F1 Exam Dumps : Financial Reporting

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The amount of the post-employment benefits paid to former employees depends on how well the scheme's investments have performed.

The employer would make additional contributions into the scheme if the actuary predicted a shortfall in the funds available to pay post-employment benefits.

The amount of the post-employment benefits paid to former employees is determined at the date of their retirement using a predefined formula.

The employer may take a contributions holiday and stop paying contributions for a period, if the scheme's assets appear to be more than are required to meet the scheme's obligations.

The government can budget its cash flows more easily.

The risk of employees defaulting on the payment of tax due is reduced

The tax authority deals directly with the employees rather than the employers.

The tax is paid after the employee completes a tax return.

Most of the administrative costs of collecting the tax are borne by the tax authority