Dáil Éireann Debate, Wednesday - 24 April 2013
81. Deputy Stephen S. Donnelly asked the Minister for Finance further to Parliamentary Question Numbers 275 and 278 of 16 April 2013 if he will indicate the total pension funds affected, including those contained in client accounts;; and if he will make a statement on the matter. [19463/13]
View answerI have been advised by the Special Liquidators that the total value of the 23 individual Irish pension fund accounts placed on deposit with Irish Bank Resolution Corporation at the time of liquidation was €1m. I am advised that this excludes any funds placed on deposit with the Bank in client accounts opened on behalf of beneficiaries, where these beneficiaries are Irish pension funds. Funds in client accounts are placed by intermediaries, including brokers and the Special Liquidators and/or the bank would not have the details of the underlying deposit holders. The Special Liquidators are therefore unable to confirm the total value of pension funds that could be contained in client accounts at the time of liquidation. The status of all deposits in IBRC is currently under review with the respective Guarantee Scheme Operators, regarding consideration for payment under the respective schemes.
