IFRIC 14

IFRIC 14

IFRIC Interpretation 14

IAS 19—The Limit on a Defined Benefit
Asset, Minimum Funding Requirements and their Interaction
In July 2007 the International Accounting Standards Board issued IFRIC 14 IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction. It was developed by the Interpretations Committee. In November 2009, IFRIC 14 was amended to address prepayments of future minimum funding requirement contributions.
IAS 1 Presentation of Financial Statements (as revised in September 2007) made minor consequential amendments to IFRIC 14.

஽ IFRS Foundation

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CONTENTS from paragraph

IFRIC INTERPRETATION 14
IAS 19—THE LIMIT ON A DEFINED BENEFIT ASSET,
MINIMUM FUNDING REQUIREMENTS AND THEIR
INTERACTION
REFERENCES
BACKGROUND

1

SCOPE

4

ISSUES

6

CONSENSUS

7

Availability of a refund or reduction in future contributions

7

The effect of a minimum funding requirement on the economic benefit available as a reduction in future contributions

18

When a minimum funding requirement may give rise to a liability

23

EFFECTIVE DATE

27

TRANSITION

28

FOR THE ACCOMPANYING DOCUMENTS LISTED BELOW, SEE PART B OF THIS
EDITION
APPROVAL BY THE BOARD OF PREPAYMENTS OF A MINIMUM FUNDING
REQUIREMENT ISSUED IN NOVEMBER 2009
ILLUSTRATIVE EXAMPLES
BASIS FOR CONCLUSIONS

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IFRIC Interpretation 14 IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding
Requirements and their Interaction (IFRIC 14) is set out in paragraphs 1–29. IFRIC 14 is accompanied by illustrative examples and a Basis for Conclusions. The scope and authority of Interpretations are set out in paragraphs 2 and 7–16 of the Preface to
International Financial Reporting Standards.

஽ IFRS Foundation

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IFRIC Interpretation 14
IAS 19—The Limit on a Defined Benefit Asset, Minimum
Funding Requirements and their

References: ● IAS 19 Employee Benefits (as amended in 2011)