Mercer Select US - IASB proposes change to discount rate for valuing pension and other retiree benefits

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IASB proposes change to discount rate for valuing pension and other retiree benefits

Planned amendments to IAS 19, Employee benefits, would require all companies to determine discount rates for valuing pension and other post-employment benefits from high-quality corporate bond yields. Currently, companies in countries without deep corporate bond markets must use government bond yields, resulting in reporting inconsistencies as spreads between corporate and government bond yields have widened in the financial crisis. The proposal is on the fast track to take effect for 2009 year-end. IASB intends to issue an exposure draft in August with a Sept. 30 comment deadline. (Select News, 7 Aug 2009)

IASB proposes change to discount rate for valuing pension and other retiree benefits

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