Mercer Select US - IASB rescinds discount rate proposal for pensions and other retiree benefits

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IASB rescinds discount rate proposal for pensions and other retiree benefits

IASB has rescinded planned amendments to IAS 19, Employee benefits, that would have required all companies to determine discount rates for valuing pension, retiree health and other post-employment benefits from high-quality corporate bond yields. Companies in countries without deep corporate bond markets currently use government bond yields, resulting in reporting inconsistencies. The board halted the project Oct. 22, after weighing the positives (improved global consistency) against the negatives (subjectively determined discount rates due to lack of country-specific data points). (Select News, 26 Oct 2009)

Full text of IASB Update for October (26 Oct 2009) (PDF)

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