Pension plans, and benefit plans that have characteristics similar to pension plans and provide benefits other than pensions, apply the accounting standards for pension plans in Part IV of the CICA Handbook – Accounting. They do not apply IAS 26 Accounting and Reporting by Retirement Benefit Plans, included in Part I of the Handbook.
Section 4600, Pension Plans, in Part IV of the Handbook refers to either International Financial Reporting Standards in Part I of the Handbook, or accounting standards for private enterprises in Part II of the Handbook. Thus, pension plans should monitor activities related to the standards in Part I or Part II since amendments made to those standards may affect them.
Effective Dates for New Standards
- CICA Handbook
— Promises Made Clearer — New accounting standards developed in Canada for pension plans include some changes and improvements, CAmagazine, September 2010
- Basis for Conclusions
— Benefit Plans and Fair Value Disclosures by Pension Plans — Amendments to Section 4600 — Fair Value Measurement by Pension Plans — Amendments to Section 4600 — Section 4600, Pension Plans
- Implementation Guidance
— High-level Comparison of Section 4600 (Part IV) to Section 4100 (Part V) of the Handbook — Optional Presentation Format for a Pension Plan's Statement of Financial Position
Nancy A. Estey, CA
Principal, Accounting Standards
Phone: +1 (416) 204-3271