FINANCE COMPANIES will be hit by as much as £325m of extra costs as a result of the new International Financial Reporting Standard IAS19, a new survey has found.
FTSE350 finance companies told actuary and consultancy firm Barnett Waddingham their disclosed profits would be hit by the new rule, which was launched last week.
It forces companies to set the expected return on pension schemes' assets in terms of AA-rated corporate bonds, which generally offer lower returns than typical schemes' investment strategies.
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