Pension Liability
The shortfall on a defined benefit scheme, being the obligation less plan assets. Treated as a debt-like item in the EV bridge, usually net of the tax relief available on future contributions. Can dominate the bridge for older industrials with legacy schemes, and is highly sensitive to the discount rate used to value the obligation.
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This term comes up constantly in accounting interviews and on the desk.
IB technical questions guideRelated Accounting terms
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