Document ID: chunk:federal_register_of_legislation:F2023C00383:reg:4:p14
Version: federal_register_of_legislation:F2023C00383
Segment Type: reg
Provision Reference: reg 4 (pt 14/25)
Character Range: 101162–104158

materially different risks. For example, an entity may disaggregate disclosure about plans showing one or more of the following features:
(a) different geographical locations.
(b) different characteristics such as flat salary pension plans, final salary pension plans or post-employment medical plans.
(c) different regulatory environments.
(d) different reporting segments.
(e) different funding arrangements (eg wholly unfunded, wholly or partly funded).

Characteristics of defined benefit plans and risks associated with them
139 An entity shall disclose:
(a) information about the characteristics of its defined benefit plans, including:
(i) the nature of the benefits provided by the plan (eg final salary defined benefit plan or contribution-based plan with guarantee).
(ii) a description of the regulatory framework in which the plan operates, for example the level of any minimum funding requirements, and any effect of the regulatory framework on the plan, such as the asset ceiling (see paragraph 64).
(iii) a description of any other entity's responsibilities for the governance of the plan, for example responsibilities of trustees or of board members of the plan.
(b) a description of the risks to which the plan exposes the entity, focused on any unusual, entity-specific or plan-specific risks, and of any significant concentrations of risk. For example, if plan assets are invested primarily in one class of investments, eg property, the plan may expose the entity to a concentration of property market risk.
(c) a description of any plan amendments, curtailments and settlements.

Explanation of amounts in the financial statements
140 An entity shall provide a reconciliation from the opening balance to the closing balance for each of the following, if applicable:
(a) the net defined benefit liability (asset), showing separate reconciliations for:
(i) plan assets.
(ii) the present value of the defined benefit obligation.
(iii) the effect of the asset ceiling.
(b) any reimbursement rights. An entity shall also describe the relationship between any reimbursement right and the related obligation.
141 Each reconciliation listed in paragraph 140 shall show each of the following, if applicable:
(a) current service cost.
(b) interest income or expense.
(c) remeasurements of the net defined benefit liability (asset), showing separately:
(i) the return on plan assets, excluding amounts included in interest in (b).
(ii) actuarial gains and losses arising from changes in demographic assumptions (see paragraph 76(a)).
(iii) actuarial gains and losses arising from changes in financial assumptions (see paragraph 76(b)).
(iv) changes in the effect of limiting a net defined benefit asset to the asset ceiling, excluding amounts included in interest in (b). An entity shall also disclose how it determined the maximum economic benefit available, ie whether those benefits would be in the form of refunds, reductions in future contributions or a combination of both.
(d) past