Providing a Framework for Developing an Optimal Model of Financial Reporting of Pension Funds in Iran

Social security systems have been created with the aim of providing social support and providing alternative income for disabled and retired people and their dependents. In our country, the first action in the field of social security was to insure national railway workers in 1309, and after that insurance protections were gradually developed and expanded. The purpose of this research is to provide a framework for developing an optimal model of the financial reporting of pension funds, suitable for Iran's conditions, through describing the current situation of pension fund reporting in Iran and then recognizing the issues and measures taken by the successful countries of the world in the field The reporting of pension funds has been achieved. In this research, the current state of reporting and disclosure of pension funds in Iran has been explained. After that, by recognizing the issues and problems of pension funds and the measures taken by the successful countries of the world in the field of pension fund reporting, and discussing most of the important issues that the standard compilers have when creating new approaches to reporting for pensions with they face it; This research has provided an optimal model for financial reporting of pension funds that is suitable for the conditions of Iran. 

This research is qualitative in nature and deals with qualitative data. This method of data collection and analysis includes the review of researches and related documents in this field, as well as conducting interviews with 16 financial experts and specialists of pension funds in 1400 and 1401. Currently, there are 16 pension funds in Iran, and the financial statements and explanatory notes of some of these funds have been studied in order to check their reporting methods. 

Using the grounded theory research method, a model including causal conditions, intervening conditions, background conditions, strategies and optimal reporting consequences of pension funds was presented, whose main categories include the non-compliance of standard 27 with the conditions of Iran. , knowledge and awareness are the influential areas, Political management, Lack of actuarial standards, Structural and environmental weaknesses and the absence of an institution overseeing actuarial reports. In the subclasses included is included in the subclasses Strengthening the reporting of actuarial information, paying more attention to GASB67, Providing analytical information in the notes section, Compilation of instructions for preparation of actuarial reports, The need to confirm the actuary's work in terms of assumptions and techniques, The necessity of the actuary's opinion about the assumptions, Harmonization of actuarial principles Production of more reliable, scientific and standardized data and reports with the existence of a regulatory body, Lack of corporate governance, Absence of government actuary and  Absence of reports to provide insight into the future of the funds.By examining the financial statements of the Social Security Organization as the largest pension plan, it should be emphasized that the most important requirements of Iran's Standard 27, which include the calculation of the fair value of net assets, excluding tangible fixed assets, and comparing it with the current value actuarial-based retirement benefits, disclosure of actuarial assumptions in explanatory notes to financial statements, description of resource provision policies, which is the reporting objective of this standard, and has been emphasized in order to meet one of the important information needs of users. , the description of the investment policies that, in order to maintain the insurance nature of the funds, should be paid from the income, obligations and pensions are not observed. This shows that in the financial statements and actuarial reports, almost all important actuarial requirements are not met and special measures should be taken in this regard. 

The attention and optimal development of the field of financial reporting of pension funds inside the country and the creation of an institution to supervise reporting as well as the creation of actuarial standards are important achievements of this research, which can improve the quality and quantity of financial reporting of pension funds. If the strategies are implemented, the expected consequences in different fields include the creation of a supervisory body in order to prevent actuarial calculations by different individuals and ministries for each of the funds, coordination of actuarial principles by the actuary, more scientific and accurate actuarial calculations. Saving the organization from the current situation, postponing the aging period of the funds and therefore paying attention to the issue of asset valuation, doing the correct and accurate current evaluation of pension benefits based on actuaries, correctly displaying financing information according to standard 27, strengthening the framework, principles And the appropriate factors for measurement and reporting are by creating an institution that oversees actuarial reports, the existence of a data center in actuarial calculations, eliminating the optionality of applying actuarial rates and assumptions, and preventing the shrinking of funds with optimal resource provisioning policies.