Pension accounting changes impact HR

New disclosure requirements for pension and benefit plans and why HR should get involved
By Todd Humber
|CHRR, Guide to Pensions & Benefits|Last Updated: 06/29/2004

The Canadian Accounting Standards Board has put new disclosure requirements in place for pension and benefit plans.

The new requirements for “employee future benefits,” including pension benefits, post-retirement and post-employment benefits, are in effect for years ending after June 30, 2004.

Joe Nunes, an actuary and pension consultant with Actuarial Solutions Inc. in Windsor, Ont., said it’s important for HR practitioners to be able to wrap their heads around the new changes, even if they aren’t earthshaking. That’s because while finance may ultimately be responsible for ensuring compliance, a little knowledge can go a long way in making HR a strategic partner.