For companies whose pension obligations constitute a substantial item in the balance sheet, a high degree of confidence in the financial reporting of pensions is essential. However, the international financial reporting of pensions, for example in ?International Financial Reporting Standards? (IFRS), has recently been subject to controversy and lead companies as well as standard setting entities to express concerns about complexity and transparency of items regarding to pensions, especially defined benefit obligations. Financial reporting of pensions continues to be a world-wide problem, which can be attributed to the fact that the existing accounting models were developed 20 to 30 years ago and are based on a simplistic view of arrangements. Therefore standard setters like the ?International Accounting Standards Board? (IASB) face the urgency to adapt the existing regulations of financial reporting of pensions. With regard to IFRS, until a long term improvement of the relevant standard IAS 19 can be achieved, meanwhile the board addressed for a short term improvement the main problems with pension accounting under this standard via a discussion paper and added an invitation to comment on the suggestions made in this discussion paper. Interpreting some of the comments sent to the IASB it becomes clear that mostly the different options in IAS 19 to recognize defined benefit obligations and expenses cause concerns and that in the future standard no deferral mechanism should be implemented. In this master thesis the existing options are compared and it is shown, that the fair value option, suggested by the IASB, represents no significant advantages unless transitory gains and losses are separated from more persistent income parts. Nevertheless, according to the author?s opinion all options are just different ways to describe the same reality, which all provide advantages and disadvantages. Over the long term a comprehensive review of this standard is necessary.