Should a defined benefit provision liability have an actuarial valuation and if not done cn the liability be discounted

Question

My company is making provisions for pension liabilities in the books. The provision is equivalent to number of years saved multiplied by the current salary. the liability is not funded out side or within the company. There has been no actuarial valuation.

Answer 1

Valuation by a professional acturial is not compulsory. What is required is the use of an Acturial technique. The method you are following is clearly not an Acturial method.

Check this answer too
http://***.ifrsanswer.***/1433/is-formula-method-an-actuarial-technique?show=1433#q1433