Singapore legislation
Regulation 19
Regulation 19
Accrued pension expense
Subregulation 1
This regulation applies in a financial year where a constituent entity of an MNE group —
has made any contribution to a pension fund in the financial year;
has received any amount from the pension fund in the financial year; or
otherwise has any amount of income or expense relating to the pension fund reflected in its FANIL.
Subregulation 2
The FANIL of the constituent entity for the financial year must be adjusted by deducting an amount A + B − C, where —
A is the amount of income (expressed as a positive amount) or expense (expressed as a negative amount) for the financial year that has accrued in respect of the pension fund in the FANIL of the constituent entity;
B is the amount of contributions made to the pension fund by the constituent entity in the financial year; and
C is the amount received by the constituent entity from the pension fund in the financial year.