Pension Costs

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Definitions
Accrued Benefits Method
Accrued Benefits Method Actuarial Accounting Pension Costs Pension Liabilities Future Earnings Pension Planning Financial Reporting
An actuarial method used in accounting for pension costs that calculates the actuarial value of liabilities based on current and deferred pensioners' benefits as well as the benefits of current employees for services rendered up to a given date.
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Definitions
Defined-Benefit Pension Scheme
Defined-Benefit Pension Scheme DB Scheme Employee Benefits Pension Costs Final Salary Scheme Financial Reporting IAS 19 Defined-Contribution Pension Schemes
A defined-benefit (DB) pension scheme is an occupational pension plan where the retirement benefits are predetermined by a specific formula, typically incorporating years of service and salary levels. The pension is funded accordingly, and accounting for pension costs presents specific challenges governed by Section 28 of the Financial Reporting Standard in the UK and IAS 19.
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