Retirement benefit plans

Retirement benefit plans are arrangements whereby an entity provides benefits for its employees on or after termination of service (either in the form of an annual income or as a lump sum) when such benefits, or the employer’s contributions towards them, can be determined or estimated in advance of retirement from the provisions of a document or from the entity’s practices. (See also ‘post-employment benefit plans’.)

Retirement benefit plans are specifically discussed in IAS 26 Accounting and Reporting by Retirement Benefit Plans.

Source: Glossary of Terms of IFRSs as at 31 December 2008.