Pulse – Thailand – October 2017
Danny Quant & Mark Whatley | 20 Oct 2017
Thailand: New mortality assumptions for long-term employee benefits accounting
The Thai insurance regulator, the Office of Insurance Commission (OIC), has recently released new insured lives mortality tables. It is expected that companies will adopt the new TMO17 tables as the mortality assumption for valuing their post-retirement and other long-term employee benefits under Thai Accounting Standard 19 (TAS19) and similar international accounting standards.
In this edition of Pulse, we provide commentary on the introduction of the new mortality tables, compare the new tables to the previous ones, and estimate the likely impact on companies’ balance sheet liabilities and profit or loss costs for post-retirement benefits.