accrued benefits

Show Summary Details

Quick Reference

Benefits due under a defined-benefit pension scheme in respect of service up to a given time. Accrued benefits may be calculated in relation to current earnings or protected final earnings. Statement of Standard Accounting Practice 24 and Financial Reporting Standard 17, Retirement Benefits, contain regulations on accounting for pension costs in financial accounts. From January 2005 listed companies have to comply with International Accounting Standard 19, Employee Benefits.

Subjects: Financial Institutions and Services — Accounting.

Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.