Dáil Éireann - Volume 663 - 08 October, 2008

Written Answers. - Pension Provisions.

Deputy Richard Bruton asked the Minister for Finance the latest estimate of the accrued liability to the State for public service occupational pensions; and the increase in the accrued liability each year since the establishment of the National Pensions Reserve Fund. [34004/08]

  Deputy Brian Lenihan: The total accrued liability in respect of public service occupational pensions is estimated at €75bn as of 2007. This figure represents the current liability for future superannuation payments to serving public service employees and their dependents in respect of service to date along with the liability for all future payments to current pensioners and their dependents. In the past estimates of the accrued liability were not made on a regular basis. However, the Report of the Commission on Public Service Pensions (2000) provided an estimate of €25bn for the value of accrued liabilities as of 1997. The National Pension Reserve Fund was set up in April 2001 and the value of funds in the NPRF as at end 2007 was €21bn