FRS 102 company accounting for housing associations

Housing associations must meet their company accounting obligations

Housing associations participating in the Local Government Pension Scheme (LGPS) must show full details of funding position in their annual accounts under the FRS102 or IAS19 accounting standards.

Up to now, housing associations participating in the Social Housing Pension Scheme (SHPS) Defined Benefit plans have been able to treat these schemes as Defined Contribution (DC) arrangements for accounting purposes.

However now that FRS 102 has been implemented, they have to disclose the present value of contributions payable under any deficit reduction schedule within the balance sheet – rather than simply recognising actual contributions as an expense in the profit and loss account.

How can First Actuarial help?

We can help your housing association meet its company accounting requirements by:

  • Calculating the present value of your deficit contributions to date on your balance sheet
  • Providing a reconciliation of your pension liability over the accounting period, showing items passing through the profit and loss account and the statement of total gains and losses (STRGL).
FRS 102 company accounting for housing associations

Why choose First Actuarial?

We offer a simple service at a fixed and reasonable price, working quickly but thoroughly to agreed timescales.

Get in touch

Get in touch with one of our housing sector experts to discuss how we can help you.

First Actuarial are very approachable. They’re good at helping managers and Board members digest a very difficult area, and they’ve also been proactive in helping us shape an innovative solution.

- Paul Richmond, Group Director of Finance and Resources, Watford Community Housing

First Actuarial case studies

Aster Group

Housing association Aster Group extended its financial wellbeing programme and brought in First Actuarial to deliver a bespoke Retirement Planner, with supporting webinars and one-to-one sessions.

"People love the one-to-ones and are grateful for them. It’s a valuable offering that would otherwise cost them hundreds of pounds. People recognise it as a real benefit."


Royal Mail

The Communication Workers Union (CWU) enlisted the help of First Actuarial when Royal Mail proposed replacing its Defined Benefit pension fund with individual Defined Contribution arrangements.

“I can’t speak highly enough about First Actuarial – their people have been brilliant. The journey has been inspirational, nothing but a positive experience.”


Cheam School

With substantial increases in Teachers’ Pension Scheme (TPS) contributions looming for independent schools, Cheam School looked to First Actuarial for specialist support.

“We had a very good experience working with First Actuarial. I felt that they were always on the end of the phone, available to help and respond to issues as they arose."

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