FRC issues amendments to FRS 102 for multi-employer defined benefit plans

Released 24 May 2019

The Financial Reporting Council (FRC) has released narrow-scope amendments to FRS 102, which aims rectify a current issue ‘regarding where to present the impact of an employer’s transition from defined contribution account to defined benefit accounting.

The publication Amendments to FRS 102 – Multi-employer defined benefit plans will come into force from periods commencing on or after 1 January 2020. The amendment affects Section 1 Scope and Section 28 Employee Benefits of FRS 102, as well as the Basis for Conclusions.

The amendment enacts all of the changes proposed in FRED 71 Draft Amendments to FRS 102: Multi-employer defined benefit plans.

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