2023-08-30-WTW-2023设定受益计划会计假设全球调查（英）-2023_8页_1mb

报告摘要

2023 Global Survey of Accounting Assumptions for Defined Benefit Plans Summary

Core Content

The 2023 Global Survey of Accounting Assumptions for Defined Benefit Plans is the 34th annual survey conducted by WTW, analyzing the assumptions used by major corporations worldwide for their defined benefit (DB) plans. The survey covers data from 1,000 companies across 47 countries, with a focus on economic and actuarial assumptions that influence pension liabilities and funding levels.

Key Economic Assumptions

1. Discount Rate

The discount rate is used to calculate benefit obligations and is based on bond yields.
ASC 715 typically uses AA-rated corporate bonds, while IAS 19 may use government bonds without a risk premium.
In countries with deep corporate bond markets (e.g., Canada, U.S., U.K.), discount rates for both standards are similar.
In countries with less developed markets (e.g., Argentina, Colombia, Hong Kong), IAS 19 discount rates are notably lower than ASC 715.
Figure 1 provides average discount rates for 2023 and 2022 for major economies.

2. Inflation Assumption

Inflation assumptions influence other economic factors like salary increases, pension growth, and interest crediting rates.
Long-term inflation assumptions have increased globally since 2021, reflecting rising inflation trends.
In UK and Eurozone countries, inflation curves are often used to derive assumptions.
Figure 2 shows the average inflation assumptions for 2023 and 2022.

3. Expected Rate of Return on Assets

This reflects the long-term earnings expectation on plan assets and is a component of employee benefit cost under ASC 715.
The expected return is calculated based on the asset allocation strategy of the plan sponsor.
In 2023, expected rates of return increased in all seven economies analyzed, driven by higher debt yields and a better equity outlook.
Figure 4 provides average expected rates of return for 2023 and 2022.

Actuarial Assumptions

4. Mortality Tables

Mortality assumptions are critical in calculating benefit obligations.
Figure 5 shows assumed life expectancy at age 60 for both current age 60 and age 40 males.
Most countries have implied life expectancies between 20 and 30 years, with differences in assumptions affecting liabilities based on payment elections and participant mix.

Funding and Liability Metrics

5. Projected Benefit Security Ratio

This ratio compares the market value of plan assets to the projected benefit obligation.
It improved for six of the seven major economies in 2023, due to a greater decrease in liabilities than in assets, driven by rising discount rates.
Figure 6 provides the average projected benefit security ratio for 2023 and 2022.

Methodology and Scope

The survey collects data from companies with DB plans and uses a combination of survey forms and WTW databases.
54% of participants report under ASC 715, while 46% use IAS 19 or similar standards.
The data reflects assumptions at or near the end of 2022.
The survey includes 47 countries, with a snapshot of key findings for Canada, Germany, Japan, Netherlands, Switzerland, U.K., and U.S. included in this executive summary.

About WTW

WTW is a global firm that provides data-driven, insight-led solutions in the areas of people, risk, and capital, serving 140 countries and markets. They combine global perspectives with local expertise to help organizations enhance strategy, resilience, and performance.