Ricerc@Sapienza

In this paper, we focus on the disclosure of pension liabilities for entities referred to in Italian Legislative Decree
30 June 1994 no. 509 (also called “old funds” for professionals), which is crucial for a suitable communication.
After illustrating the limits of current statutory financial statements‟ in relation to the information they provide
on pension benefit obligations, we propose three potential solutions to bridge the gap. Each of these proposals
helps ensure the completeness and clarity of financial reporting and improves upon the informational capacity
and quality of disclosure. In our opinion, one of these approaches, in particular, would be preferred because of its
ease of adoption. Indeed, the disclosure in the explanatory notes allows for the quantification of pension benefit
obligations, and hence a more proper evaluation of entities in the medium/long- term, with no impact on annual
economic-financial results as reported in the balance sheet and the income statement.