Accounting for Pensions

row of stonesFor many companies, the pensions accounting costs and liabilities are amongst the most significant and volatile items in their accounts. Proposed changes to pensions accounting standards are only likely to increase their impact. Taking control of these items and, where necessary, robustly challenging the status quo may have significant benefits for your company and its stakeholders.

We have extensive experience in the production and audit of pensions accounting figures and in helping clients manage and derisk their accounting costs. Our experience covers international, Irish and US accounting standards and is backed up by Deloitte’s global accounting experts and infrastructure. Also, being part of an audit firm, we know how auditors think, so can tailor our documentation to anticipate and address their specific requirements.

We can help clients: 

  • Robustly set and challenge pensions accounting assumptions, ensuring that they are appropriate to their schemes and not simply with a 'house range'
  • Prepare pensions accounting figures under international, Irish and US accounting standards
  • Model future pensions accounting costs under various scenarios, including the impact of changes to accounting standards
  • Manage the production and consolidation of global pensions accounting figures
  • Create robust controls to minimize the risks of errors in the figures and maximize the efficiency of audits
  • Ensure that the accounting treatment is compliant with the relevant standard
  • Manage the volatility associated with pensions accounting costs and align funding, accounting and investments
  • Manage the communication of pensions costs to the Audit committee, shareholders and other stakeholders, ensuring that the disclosures are compliant and reflect emerging best practice

Please do not hesitate to contact a member of our Pensions and Reward Services team with any queries you might have.