For accounting periods ending after 1st January 2013, a new version of IAS19 looks set to apply which will require sponsoring employers to be more transparent about the impact of their pension obligations in their company accounts.

The main change is that employers will be required to calculate the expected return on scheme assets by reference to the return on AA corporate bonds, instead of actual scheme assets. It has recently been suggested that this could reduce the reported profits of UK companies by an estimated £10billion.