Terence Flanagan
Question:265. Deputy Terence Flanagan asked the Minister for Public Expenditure and Reform his plans to review costs (details supplied); and if he will make a statement on the matter. [1195/14]
View answerWednesday, 15 January 2014
Questions (265)
Written answers
The most recent C&AG exercise showed the accrued liability in respect of public service occupational pensions to have been €116bn as of December 2009. This figure covers the liability in respect of serving staff and pensioners from all Public Service pension schemes i.e. Health, Education, Civil Service, Defence Forces, Local Authorities, Garda Síochána, Ministerial and non-commercial state bodies. The figure represents the present value of the benefits earned by serving staff based on service to that date and the present value of future payment to current pensioners and their spouses together with the value of benefits to preserved pensioners also at that date.
Work has now commenced in my Department on updating this figure; this new exercise will estimate the position as of December 2012. The exercise will take into account the relevant changes in public service pay and pensions in recent years. It is intended to have an updated estimate of the accrued liability figure early this year.