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How is the Contribution treated in the financial statements? Foe example, I understand the payment is credited to cash but do not know whether the contribution is a charge to P or L in addition to the Service Cost Component. Please help.
Hi,
The contribution is what is paid in to the scheme, so is the amount the company is investing in the scheme assets. The debit entry is therefore to the pension assets and not a charge to the profit or loss.
Thanks
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