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ASB change to accounting methods threatens pensions

The Accounting Standards Board is to make companies reveal more in their accounts about their pension schemes.


The change will create greater volatility in accounts as firms have to show how the value of their occupational pension funds varies with changes in the bond and equity markets.


Experts believe the reforms may fuel a movement away from traditional pension schemes based on final salary to a US defined contribution style where the employee takes more of the risk.


ASB chairman: “Sir David Tweedie says: “At the moment, shareholders know next to nothing about their pension funds.”

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