Employer Accounting

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Employers are obliged to produce financial statements which comply with the Housing of Recommended Practice (also known as the Housing SORP).

At present, employers account for their Defined Benefit SHAPS membership by including the present value of their agreed future deficit contributions. Employers can access this information from TPT's online modeller

The Housing SORP Working Party is reviewing whether 'DB accounting' (setting out assets and liabilities for each employer in the Scheme rather than the present value of the deficit contributions) could be estimated to a sufficient level of detail, and is working to agree a method and obtain audit assurance on the method and output. Once an audit assured method is approved, TPT will assess how this information is best provided and any employer costs. TPT will keep employers informed of progress.

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