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Issue detail

2. Employer retirement pension schemes
Issue description and recommendation

In the 1993 SNA, promises to pay future pension benefits are not recognized as liabilities of social security schemes or unfunded employer schemes. The review will investigate the analytical relevance of recording liabilities for the latter in the national accounts and, if appropriate, formulate recommendations regarding their valuation and measurement. The review should also address the problems of under- and over-funded defined benefit schemes where at present liabilities are recognized only to the extent that reserves have been built up. The implications for the definition of output of pension schemes, compensation of employees and saving as well as measurement issues need to be addressed. The review will also lead to a reconciliation of the recommendations of the 1993 SNA and the IMF Government Finance Statistics Manual regarding the treatment of unfunded employer pension schemes.

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Chapters affected by this issue, and their status (For more information click corresponding chapter from the list)
  No draft yet, AEG/world review draft, Final draft
6. The production account
8. The redistribution of income accounts
9. The use of income accounts
11. The financial account
12. The other changes in assets accounts
13. The balance sheet
17. Cross-cutting and other special issues
24. The households sector

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