EIOPA · 2000
Pensions Reporting
- Regulation
- EIOPA-BoS/18-114 - Information request towards NCAs regarding provision of occupational pensions information
- Article
- Template PF.29.05.24, R0020
- Topic
- Pensions Reporting
- Submitted
- 2019-09-05
- Answered
- 2023-01-13
Question
What is meant by "Past service costs" (PF.29.05.24, R0020)? Is it the same definition as under IFRS? The description in the Technical Specifications is very vague ("Accrual of obligations during the reporting period"). Is the service cost generally meant (past service cost and current service cost in total)? Can you illustrate the filling by a simple example?
Answer
The Past service costs in our reporting refers to the change in the present value of the defined benefit obligation resulting from employee service over the past year (i.e. changes in the present value of the defined benefit obligations of the employees for being one year longer affiliated to the scheme) . These do not only include the resulting change in the present value of the defined benefit obligation as a result of an introduction of, or changes to, the employee benefits offered which is often referred to as “past service costs" or “prior service costs" from an accounting principles.
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
Similar Q&As
More Q&As on this topic
📋 Track EU financial regulation continuously
Forseti monitors EU financial regulation and delivers personalised alerts anchored to verified official sources.
14-day free trial. No credit card required.