New UK GAAP 2015: Application of FRS 100-102 in the UK

Chapter 23 Employee benefits

1 Introduction

2 Comparison between Sections 28, previous UK GAAP and IFRS

   2.1 Key differences from previous UK GAAP

       2.1.1 Scope

       2.1.2 Defined benefit pension schemes

1. 2.1.2.A Net interest
2. 2.1.2.B Past service costs
3. 2.1.2.C Group schemes
4. 2.1.2.D Multi-employer schemes
5. 2.1.2.E Pension surpluses
6. 2.1.2.F Presentation

   2.2 Key differences from IFRS

       2.2.1 Past service costs

       2.2.2 Asset ceilings and IFRIC 14 guidance

       2.2.3 Attributing benefit to years of service

       2.2.4 Presentation

3 The requirements of section 28 for employee benefits

   3.1 Terms used in Section 28

   3.2 Scope and general recognition principles

   3.3 Short-term employee benefits

   3.4 Post-employment benefits: Distinction between defined contribution plans and defined benefit plans

       3.4.1 Distinction between defined contribution plans and defined benefit plans

       3.4.2 Multi-employer and state plans

       3.4.3 Insured benefits

   3.5 Defined contribution plans

       3.5.1 General

   3.6 Defined benefit plans

       3.6.1 Recognition

       3.6.2 Measurement of plan liabilities

1. 3.6.2.A Legal and constructive obligations
2. 3.6.2.B Discount rate
3. 3.6.2.C Actuarial methodology
4. 3.6.2.D Actuarial assumptions
5. 3.6.2.E Frequency of valuations and use of an independent actuary

       3.6.3 Measurement of plan assets

       3.6.4 Reimbursement rights

       3.6.5 Plan introductions, changes, curtailments and settlements

       3.6.6 ...