details of any single investment exceeding either 5% of the net assets available for benefits or 5% of any class or type of security;

details of any investment in the employer; and

liabilities other than the actuarial present value of promised

retirement benefits;

          a statement of changes in net assets available for benefits showing the

following:

employer contributions;

employee contributions;

investment income such as interest and dividends;

other income;

benefits paid or payable (analysed, for example, as retirement,

death and disability benefits, and lump sum payments);

administrative expenses;

other expenses;

taxes on income;

profits and losses on disposal of investments and changes in

value of investments; and

transfers from and to other plans;

a description of the funding policy;

for defined benefit plans, the actuarial present value of promised retirement benefits (which may distinguish between vested benefits and non-vested benefits) based on the benefits promised under the terms of the plan, on service rendered to date and using either current salary levels or projected salary levels; this information may be included in an accompanying actuarial report to be read in conjunction with the

related financial statements; and

for defined benefit plans, a description of the significant actuarial assumptions made and the method used to calculate the actuarial present value of promised retirement benefits.

              The report of a retirement benefit plan contains a description of the plan, either

as part of the financial statements or in a separate report. It may contain the

following:

the names of the employers and the employee groups covered;

the number of participants receiving benefits and the number of other

participants, classified as appropriate;

the type of plan—defined contribution or defined benefit;

a note as to whether participants contribute to the plan;

a description of the retirement benefits promised to participants;

a description of any plan termination terms; and

changes in items (a) to (f) during the period covered by the report.

It is not uncommon to refer to other documents that are readily available to

users and in which the plan is described, and to include only information on subsequent changes.

Effective date

              This Standard becomes operative for financial statements of retirement benefit

plans covering periods beginning on or after 1 January 1988.