Our advice on defined benefit pension schemes includes:
We also provide a range of services in relation to accounting for post-retirement medical plans and share based payments. As well as carrying out the necessary calculations, we can advise on the choice of underlying assumptions and the sensitivity of the results to changes in assumptions.
To assist clients in setting their own assumptions we prepare an annual survey of the key actuarial assumptions used by FTSE100 companies with a reporting date of 31 December.
We have developed an interactive modelling tool, Illuminate, to help Finance Directors understand and quantify the factors influencing the financial position of their pension scheme. It also allows an instant assessment of the sensitivity of the accounts to the year-end assumptions so that the Finance Director can make a fully informed decision on the optimal approach.
We carry out annual surveys of the assumptions adopted by UK universities for determining the value of their pension liabilities for accounting purposes. The surveys focus on universities which operate Self Administered Trusts (SATs) and look at the significance of these schemes in the context of the overall finances of the university as well as at the assumptions used in their accounting disclosures.
Volatility is a particularly subjective assumption which can have a significant impact on the value placed on share-based awards – affecting both the design and accounting value of the awards.
Now is a good time for companies with June year-ends to consider how their pension scheme liabilities will affect their balance sheet - despite recent falls in equity markets IAS19 funding levels are likely to have held up reasonably well.
Now is a good time for companies with end of March or early April year-ends to consider how their pension scheme liabilities will impact their balance sheet – and it may not all be bad news.
The key financial assumptions required for determining pension liabilities under the Accounting Standards FRS102 (UK non-listed), IAS19 (EU listed) and ASC715 (US listed) are the discount rate and the rate of future inflation.
Our latest Current Issues in Pensions Financial Reporting newsletter details the key financial assumptions required for determining pension liabilities under UK and international accounting standards as at 30 September 2018.
Our latest Current Issues in Pensions Financial Reporting newsletter details the key financial assumptions required for determining pension liabilities under the FRS102 (UK non-listed), IAS19 (EU listed) and ASC715 (US listed).
After a number of difficult years, our 8th annual report on the pension provision of the FTSE350 shows that 2017 is hoping to be the turning point for the defined benefit (DB) pension schemes of the UK’s largest public companies.
DB pensions report an overall deficit decrease of £22bn for the first time in recent history. We’ve delved deeper to understand what this means for the FTSE100.
Now two years into freedom and choice in DC retirement savings, for members of a DB scheme making the most of these flexibilities will involve transferring to a DC arrangement. We provide an update on the lay of the land.
Our client, Tate & Lyle, is a global provider of solutions and ingredients for food, beverage and industrial markets, with over 11,500 members of pension and other post-retirement plans in the UK and the USA.
Our client, P&O, has around £1.5 billion of pension liabilities on an IAS19 basis, in three separate defined benefit (DB) pension arrangements.