obligations en termes de pension

English translation: for info

12:04 May 4, 2007
French to English translations [PRO]
Bus/Financial - Investment / Securities / European pension fund rules
French term or phrase: obligations en termes de pension
Standards de comptabilité (IFRS / IAS 19). Ces nouveaux standards obligent à une plus grande transparence des bilans ; il n’est dorénavant plus possible de cacher les ****obligations en termes de pension.*****

This is about the implementation of new pension fund rules for the E.U. I'd like an explanation as much as a translation about what you're no longer allowed to do please.
Alain Pommet
Local time: 06:39
English translation:for info
Explanation:
Pensions Go on the Balance Sheet: FASB
In a unanimous vote, the accounting standards board decided last week to look into an overhaul of the retiree-benefit accounting system.
Lisa Yoon, CFO.com
November 14, 2005
Employers would be facing a bumpy road ahead if they're no longer permitted to smooth results over a number of years when they account for the pensions and retiree health benefits they provide.

That possibility became much more immediate last Thursday, when the Financial Accounting Standards Board voted to add a project to its agenda studying pension accounting. Specifically, FASB will take a fresh look at its guidance in Statements 87, "Employers' Accounting for Pensions," and 106, "Employers' Accounting for Postretirement Benefits Other than Pensions."

The first part of the two-phase project is expected to be completed by the end of 2006. That phase would require companies to show on their ** balance sheets any assets or liabilities ** from overfunded or underfunded pensions. The currently prevailing practice is to show those figures in footnotes.

The next phase will be much more complex. Probably as a joint project with the International Accounting Standards Board, FASB will look at overhauling the entire system for accounting for and reporting on postretirement benefits.

http://www.cfo.com/article.cfm/5157438

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Note added at 1 hr (2007-05-04 13:15:19 GMT)
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I also think it's possible to drop the 'en termes de' (relating to, related etc) and just say 'pensions liabilities' if you want

pensions related liabilities OR pensions liabilities

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Note added at 1 hr (2007-05-04 13:17:55 GMT)
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Alan - your last question, I took this from the same link as above:

"....which steps in when companies can't make good on their pension obligations..."
Selected response from:

Julie Barber
United Kingdom
Local time: 05:39
Grading comment
Thanks Julie and everyone else for your fantastic response - I'd have liked to give everyone some points since you all contributed to making things a lot clearer.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1additional expl. - pension commitments
BusterK
5retirement obligations
Béatrice Huret-Morton
4pension obligations
rkillings
4in regard to pensions
chaplin
3for info
Julie Barber


Discussion entries: 8





  

Answers


48 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
in regard to pensions


Explanation:
bon courage!

chaplin
United Kingdom
Local time: 05:39
Native speaker of: French
PRO pts in category: 4
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1 hr   confidence: Answerer confidence 5/5
retirement obligations


Explanation:
I believe this is the IFRS expression. Otherwise I also see retirement liabilities or commitments.

Cheers,

Béa

Béatrice Huret-Morton
Local time: 06:39
Specializes in field
Native speaker of: Native in FrenchFrench, Native in EnglishEnglish
PRO pts in category: 12
Notes to answerer
Asker: Thanks Béa, very helpful

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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
for info


Explanation:
Pensions Go on the Balance Sheet: FASB
In a unanimous vote, the accounting standards board decided last week to look into an overhaul of the retiree-benefit accounting system.
Lisa Yoon, CFO.com
November 14, 2005
Employers would be facing a bumpy road ahead if they're no longer permitted to smooth results over a number of years when they account for the pensions and retiree health benefits they provide.

That possibility became much more immediate last Thursday, when the Financial Accounting Standards Board voted to add a project to its agenda studying pension accounting. Specifically, FASB will take a fresh look at its guidance in Statements 87, "Employers' Accounting for Pensions," and 106, "Employers' Accounting for Postretirement Benefits Other than Pensions."

The first part of the two-phase project is expected to be completed by the end of 2006. That phase would require companies to show on their ** balance sheets any assets or liabilities ** from overfunded or underfunded pensions. The currently prevailing practice is to show those figures in footnotes.

The next phase will be much more complex. Probably as a joint project with the International Accounting Standards Board, FASB will look at overhauling the entire system for accounting for and reporting on postretirement benefits.

http://www.cfo.com/article.cfm/5157438

--------------------------------------------------
Note added at 1 hr (2007-05-04 13:15:19 GMT)
--------------------------------------------------

I also think it's possible to drop the 'en termes de' (relating to, related etc) and just say 'pensions liabilities' if you want

pensions related liabilities OR pensions liabilities

--------------------------------------------------
Note added at 1 hr (2007-05-04 13:17:55 GMT)
--------------------------------------------------

Alan - your last question, I took this from the same link as above:

"....which steps in when companies can't make good on their pension obligations..."

Julie Barber
United Kingdom
Local time: 05:39
Native speaker of: Native in EnglishEnglish
PRO pts in category: 18
Grading comment
Thanks Julie and everyone else for your fantastic response - I'd have liked to give everyone some points since you all contributed to making things a lot clearer.
Notes to answerer
Asker: That's great Julie. -in the article we have 'burden', 'responsibilities' etc. My text is intended for financial professionals so I'd like to use the most 'technical' register of language.

Asker: Just seen your extra notes -brilliant!

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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
additional expl. - pension commitments


Explanation:
The standard is IAS 19 (although all new standards are labelled IFRS).
Obligation is a term used for the value of the commitment determined using actuarial methodology. I would thus recommend commitment which has a broader meaning.
Liability is the figure that is recorded in the balance sheet (equal to obligation less funds less other adjustments).
Pension is a payment made from a date (generally retirement but may be an accident) until death of the beneficiary. I would thus prefer it to retirement or post-retirement because it is closer to the French word used.


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Note added at 1 heure (2007-05-04 13:54:17 GMT)
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Before IFRS, pensions were recorded based on local accounting rules that were different from a country to another. Now all have the same requirements.
In France, pensions were sometimes only disclosed in the financial statements as Off balance sheet commitments (engagements hors bilan).
Now you should record a liability in the balance sheet, for an amount that is different from the obligation (see above) but you should also explain what they consist in (for ex. post retirement, medical insurance, compensations in case of accident).

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Note added at 1 heure (2007-05-04 13:56:58 GMT)
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a summary in English, but quite technical
http://www.iasplus.com/standard/ias19.htm

BusterK
Local time: 06:39
Native speaker of: Native in FrenchFrench
PRO pts in category: 16
Notes to answerer
Asker: Thanks Buster


Peer comments on this answer (and responses from the answerer)
agree  Julie Barber
30 mins
  -> thanks
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11 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
pension obligations


Explanation:
Standard term in English that is being consciously imitated here. IFRS counts it among other post-employment benefit obligations. The word "obligation" is firmly entrenched in industry abbreviations such as PBO (projected benefit obligation), ABO (accumulated benefit obligation), etc.

rkillings
United States
Local time: 21:39
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 131
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