Departmental Agencies Pension Provisions

Dáil Éireann Debate, Thursday - 18 July 2013

Thursday, 18 July 2013

Questions (266)

Michael McGrath

Question:

266. Deputy Michael McGrath asked the Minister for Public Expenditure and Reform in respect of each State agency and commercial State company under the aegis of his Department, if he will provide details of the name of each pension scheme; details of the salary percentage contributions made by the employer and the employees; the latest information on the funding position of the scheme; if any changes are planned; and if he will make a statement on the matter. [36377/13]

Written answers

Minister for Public Expenditure and Reform

In response to the Deputy’s question there are two State agencies under the aegis of my Department as follows:

Economic and Social Research Institute

1. The Economic and Social Research Institute Pension Plan

Employer Contribution 25%

Employee Contribution 8.5%

2. The Economic and Social Research Institute Superannuation Plan

Employer Contribution 15%

Employee Contribution – Non-integrated staff - 6.5%

Employee Contribution – Integrated staff - 1.5% of pensionable remuneration and 5% of net pensionable remuneration

3. Single Public Service Pension Scheme

From the 1st January all new entrants are members of the Single Public Service Pension Scheme.

Employer Contribution – Nil

Employee Contribution – 3% of pensionable remuneration and 3.5% of net pensionable remuneration

The assets of the ESRI pension schemes were transferred to the National Pension Reserve Fund on 30 June 2010. The present value of the benefit obligations of the schemes at the 31st December 2012 was €36,093,000.

Institute of Public Administration

The pension scheme for the Institute of Public Administration is a public sector scheme and, as such, has no funding issues nor are there any pension contributions to a pension fund.