Patrick McCartan
Question:17 Mr. McCartan asked the Minister for Finance the total amount owed by his Department to the Telecom Éireann pension fund; when it is intended to clear the amount owed; and if he will make a statement on the matter.
Written Answers. - Telecom Pension Fund.
The obligations of the Minister for Finance to Telecom Éireann in respect of superannuation entitlements of former staff of the Department of Post and Telegraphs are governed by the Postal and Telecommunications Services Act, 1983, and the articles of association of the company.
I am not at present in a position to say how much may be involved. The matter is extremely complex and requires careful assessment with professional actuarial guidance. The necessary work is in hands in my Department in consultation with the Department of Tourism, Transport and Communications. I would add that, under present arrangements, the Minister is not required to make a payment until such time as the income of the pension fund becomes insufficient to pay benefits as they arise. I am advised that this situation is unlikely to come about for many years, possibly 20 or more.