Dáil Éireann Debate, Tuesday - 16 July 2013
80. Deputy Niall Collins asked the Minister for the Environment, Community and Local Government the net amount transferred into the dormant accounts fund net of repayments to the financial institutions each year since the inception of the fund; the total amount transferred; and if he will make a statement on the matter. [33735/13]
View answerUnder the Dormant Accounts legislation, balances on dormant accounts with banks, building societies and An Post and the net encashment value of certain life assurance policies are paid into the Dormant Accounts Fund (DAF), which is managed by the National Treasury Management Agency. The primary purpose of the legislation is to reunite the original account holders with their moneys, including all interest due. In addition, the legislation also provides that disbursements from the fund may be made for charitable purposes or for purposes of community benefit.
Information on net inflows to the Dormant Accounts Fund, net of repayments to the financial institutions each year since the inception of the Fund are set out in the table below. Full details of all inflows, outflows and liabilities on the Fund can be found in tabular form on www.environ.ie in the Dormant Accounts section of the Community and Voluntary Supports area under the Community heading.
Net amount transferred into the Dormant Accounts Fund, net of repayments to the financial institutions from 2003 to date
|
Year |
Inflows minus repayments to financial institutions |
|
2003 |
€ 174,984,306 |
|
2004 |
€ 38,746,660 |
|
2005 |
€ 21,960,684 |
|
2006 |
€ 41,788,552 |
|
2007 |
€ 40,998,527 |
|
2008 |
€ 21,094,769 |
|
2009 |
€ 23,223,601 |
|
2010 |
€ 19,455,009 |
|
2011 |
€ 19,872,026 |
|
2012 |
€ 23,336,387 |
|
2013 |
€ 35,598,549 |
