Pearse Doherty
Question:110. Deputy Pearse Doherty asked the Minister for Finance his views on the solvency of the Anglo Irish Bank pension scheme at the date of the appointment of the special liquidator in February 2013. [32774/13]
View answerThursday, 4 July 2013
Questions (110, 111)
Pearse Doherty
Question:111. Deputy Pearse Doherty asked the Minister for Finance the value of the Anglo Irish Bank pension fund at the date of the appointment of the special liquidator in February 2013. [32775/13]
View answerWritten answers
I propose to take Questions Nos. 110 and 111 together.
The Special Liquidators are unable to provide an opinion on the solvency or provide the value of the pension funds at the date of their appointment as the funds are held by independent trustees. The Special Liquidators have advised staff that their pensions are controlled by the scheme trustees who will have to independently assess the impact of the IBRC Act 2013 and the appointment of the special liquidators. I am further advised that the vast majority of IBRC staff were on defined contribution schemes (or no pension scheme) as opposed to a defined benefit scheme and the funds of these pensions schemes are held independently.