Pension Benefits – Underfunded (SF.BS.PensionBenefits_Underfunded)
Pension Benefits – Underfunded (SF.BS.PensionBenefits_Underfunded) refers to the valuation of a pension fund which does not have enough funds to support the Expected Liabilities.
The field also includes potential one-off adjustments from changes in regulations or in the company’s stipulated policies which lead to additional obligations and subsequent wider gap from under-contribution.
Pension Benefits – Underfunded (SF.BS.PensionBenefits_Underfunded) includes:
- Minimum pension liabilities
- Postretirement benefit liabilities
- Employee benefits other non-pension benefits when the pension plans cannot be separated from other benefits
- Deferred benefits
- Directors’ retirement plans
Pension Benefits – Underfunded (SF.BS.PensionBenefits_Underfunded) does not include:
- Termination benefits, severance payments, jubilee awards and other employee benefits not related to pensions or post retirement (SF.BS.Reserves)