Dáil Éireann Debate, Tuesday - 27 November 2012
243. Deputy Pearse Doherty asked the Minister for Finance in view of the statement in Allied Irish Bank's report and accounts for the six months ending 30 June 2012 that the group pension deficit at that date was €1,457 million; if he will confirm the deficit that now exists in the AIB group pension scheme after the transfer of loan assets by AIB to the scheme, announced in August 2012, which have a book value of €1.1 billion. [52881/12]
View answerI have been informed by AIB that the bank reports the deficit under IAS 19 for financial reporting purposes twice a year, namely June and December after incorporating movements in the scheme liabilities including changes in actuarial assumptions and movement in the scheme assets. The December 2012 results will be announced in Quarter 1, 2013 and the deficit will take into account the loan assets transferred at fair value which will form part of the scheme assets.
