Financial reporting for pensions

Rise to the challenge of pensions reporting

In the face of volatile markets, changing accounting standards, increased scrutiny from audit regulators and ever-complicated pensions issues, it can be difficult to keep on top of your financial reporting requirements on pensions.

We bring our unique insight into market practice and an in-depth knowledge of pensions accounting to help clients stay ahead. Our experience working with a broad range of pension schemes and corporate sponsors and using our technology to deliver comprehensive financial reporting means that we can ensure that there are no pension surprises when it comes to your year-end.

Interpreting pension accounting standards isn’t always straightforward. Many schemes offer various member benefit options in order to help manage risk, but the accounting for these can be nuanced.

Sponsors are under pressure to improve the transparency of their pension arrangements amid economic uncertainty, continued low interest rates and scrutiny of defined benefit deficits. Regulators, investors and the media are all demanding more information and clearer disclosures. Furthermore, the International Accounting Standards Board is regularly reviewing the International Financial Reporting Standards disclosure requirements for pensions.

It is important that financial statements fully disclose significant accounting judgements and adequately explain pension risk. High-quality pension disclosures that go beyond the minimum requirements of the accounting standards will enhance your organisation’s relationships with investors and other audiences.

How we can help

Our pensions technology will produce compliant accounting disclosures for your defined benefit pension schemes at the click of a button. With the focus on the accuracy of pensions figures, the PwC mark of quality ensures that you will receive robust, accurate results.

If you have multiple pension schemes, particularly if they are in a number of different countries, it can be complicated and time-consuming to consolidate your pensions numbers. Our cutting edge consolidation technology enables you to consolidate your worldwide IFRS or US GAAP pension expense quickly and efficiently.