Commission Regulation (EU) 2019/402 of 13 March 2019 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard 19 (revoked)

EU Regulation 2019/402 · Adopted 13 March 2019 · Extends to United Kingdom

Commission Regulation (EU) 2019/402

of 13 March 2019

amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard 19 (revoked)

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Annotations to the whole text

Textual amendments

F1: Regulation revoked (31.12.2020) by S.I. 2019/685, Sch. 2 para. 65 (as inserted by The Statutory Auditors, Third Country Auditors and International Accounting Standards (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/1392), regs. 1(2), 12(b); 2020 c. 1, Sch. 5 para. 1(1))

1Article 1 Repealed
2Article 2 Repealed
3Article 3 Repealed
Signature
Annex Repealed
Plan Amendment, Curtailment or Settlement(Amendments to IAS 19) Repealed
POST-EMPLOYMENT BENEFITS: DEFINED BENEFIT PLANS Repealed
Recognition and measurement Repealed
57Accounting by an entity for defined benefit plans involves the following steps: Repealed
Past service cost and gains and losses on settlement Repealed
99When determining past service cost, or a gain or loss on settlement, an entity shall remeasure the net defined benefit liability (asset) using the current fair value of plan assets and current actuarial assumptions, (including current market interest rates and other current market prices), reflecting: Repealed
101AWhen a plan amendment, curtailment or settlement occurs, an entity shall recognise and measure any past service cost, or a gain or loss on settlement, in accordance with paragraphs 99–101 and paragraphs 102–112. In doing so, an entity shall not consider the effect of the asset ceiling. An entity shall then determine the effect of the asset ceiling after the plan amendment, curtailment or settlement and shall recognise any change in that effect in accordance with paragraph 57(d). Repealed
Components of defined benefit cost Repealed
120An entity shall recognise the components of defined benefit cost, except to the extent that another IFRS requires or permits their inclusion in the cost of an asset, as follows: Repealed
Current service cost Repealed
122ADivision 122A Repealed
Net interest on the net defined benefit liability (asset) Repealed
123Division 123 Repealed
123ATo determine net interest in accordance with paragraph 123, an entity shall use the net defined benefit liability (asset) and the discount rate determined at the start of the annual reporting period. However, if an entity remeasures the net defined benefit liability (asset) in accordance with paragraph 99, the entity shall determine net interest for the remainder of the annual reporting period after the plan amendment, curtailment or settlement using: Repealed
125Division 125 Repealed
126Interest on the effect of the asset ceiling is part of the total change in the effect of the asset ceiling, and is determined by multiplying the effect of the asset ceiling by the discount rate specified in paragraph 123A. An entity shall determine the effect of the asset ceiling at the start of the annual reporting period. However, if an entity remeasures the net defined benefit liability (asset) in accordance with paragraph 99, the entity shall determine interest on the effect of the asset ceiling for the remainder of the annual reporting period after the plan amendment, curtailment or settlement taking into account any change in the effect of the asset ceiling determined in accordance with paragraph 101A. The difference between interest on the effect of the asset ceiling and the total change in the effect of the asset ceiling is included in the remeasurement of the net defined benefit liability (asset). Repealed
OTHER LONG-TERM EMPLOYEE BENEFITS Repealed
Recognition and measurement Repealed
156For other long-term employee benefits, an entity shall recognise the net total of the following amounts in profit or loss, except to the extent that another IFRS requires or permits their inclusion in the cost of an asset: Repealed
TRANSITION AND EFFECTIVE DATE Repealed
179Division 179 Repealed

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Signature

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Plan Amendment, Curtailment or Settlement(Amendments to IAS 19)F1

Amendments to IAS 19 Employee Benefits

Paragraphs 101A, 122A, 123A and 179 are added and paragraphs 57, 99, 120, 123, 125, 126 and 156 are amended. A heading is added before paragraph 122A.

POST-EMPLOYMENT BENEFITS: DEFINED BENEFIT PLANSF1

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Recognition and measurementF1

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57Accounting by an entity for defined benefit plans involves the following steps:F1

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99When determining past service cost, or a gain or loss on settlement, an entity shall remeasure the net defined benefit liability (asset) using the current fair value of plan assets and current actuarial assumptions, (including current market interest rates and other current market prices), reflecting:F1

(a)
the benefits offered under the plan and the plan assets before the plan amendment, curtailment or settlement; and
(b)
the benefits offered under the plan and the plan assets after the plan amendment, curtailment or settlement.

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101AWhen a plan amendment, curtailment or settlement occurs, an entity shall recognise and measure any past service cost, or a gain or loss on settlement, in accordance with paragraphs 99–101 and paragraphs 102–112. In doing so, an entity shall not consider the effect of the asset ceiling. An entity shall then determine the effect of the asset ceiling after the plan amendment, curtailment or settlement and shall recognise any change in that effect in accordance with paragraph 57(d).F1

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120An entity shall recognise the components of defined benefit cost, except to the extent that another IFRS requires or permits their inclusion in the cost of an asset, as follows:F1

(a)
service cost (see paragraphs 66–112 and paragraph 122A) in profit or loss;

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122AF1

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123ATo determine net interest in accordance with paragraph 123, an entity shall use the net defined benefit liability (asset) and the discount rate determined at the start of the annual reporting period. However, if an entity remeasures the net defined benefit liability (asset) in accordance with paragraph 99, the entity shall determine net interest for the remainder of the annual reporting period after the plan amendment, curtailment or settlement using:F1

(a)
the net defined benefit liability (asset) determined in accordance with paragraph 99(b); and
(b)
the discount rate used to remeasure the net defined benefit liability (asset) in accordance with paragraph 99(b).

In applying paragraph 123A, the entity shall also take into account any changes in the net defined benefit liability (asset) during the period resulting from contributions or benefit payments.

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