Pensions accounting for employers and schemes
Pensions accounting for employers and schemes

The following Pensions practice note provides comprehensive and up to date legal information covering:

  • Pensions accounting for employers and schemes
  • Company reporting frameworks
  • IFRS and Brexit
  • Corporate accounting for defined benefit pensions under IFRS and FRS 102
  • Balance sheet
  • Income statement and other comprehensive income
  • Group plans
  • Tax relief
  • Tax accounting impact
  • UK pension scheme accounting
  • More...

Pensions accounting for employers and schemes

Contributed by Peter Westaway of Deloitte LLP and reviewed by Martin Hooper of Barnett Waddingham

CORONAVIRUS (COVID-19) UPDATE: The Pensions Regulator (TPR) has issued guidance on reporting duties and enforcement activity which stated that TPR would take a pragmatic approach to the late preparation of audited accounts and would accept delays to 30 September 2020. From 1 October 2020, TPR resumed its normal enforcement approach in respect of delays to audited accounts.

In June 2020, the Institute of Chartered Accountants of Scotland (ICAS), the Institute of Chartered Accountants in England and Wales (ICAEW) and the Pensions Research Accountants Group (PRAG) also published joint guidance on pension scheme reports and financial statements, including the additional challenges likely to be experienced as a result of the coronavirus pandemic.

For more information, see Practice Note: Coronavirus (COVID-19)—the pensions implications for trustees — Scheme accounts.
FORTHCOMING DEVELOPMENT: In March 2021, the International Accounting Standards Board (IASB) published papers proposing to replace the prescriptive disclosure requirements in IAS 19 with a high-level, catch-all disclosure objective which is intended to result in more decision-useful information in financial statements. Consultation closure: 21 October 2021.

For further information, see: IASB press release — March 2021 and Exposure draft.


Pensions accounting can be complex, especially

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