Public pension accounts move towards market-consistency
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The future international public sector accounting standard (IPSAS) relating to employee benefits is likely to stipulate entities use market yields of high quality corporate bonds to determine the risk-free discount rate to discount pension benefits. The IPSAS board will discuss the matter at its meeting in Montreal next week and is likely to adopt such a ruling then, according to Mike Hathorn, London-based chairman of the IPSAS board.
With cash flow accounting or actuarial discounting of pension
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