Dáil Éireann Debate, Tuesday - 17 May 2016
1216. Deputy Bernard J. Durkan asked the Taoiseach and Minister for Defence if he will make available the actuarial assessment used to calculate annuity value in the case of reduced payment of disability pension to a person (details supplied); and if he will make a statement on the matter. [10079/16]
View answerThe actuarial assessment in this case was received in February 1987 from the Actuary in the then Department of the Public Service.
The assessment stated that the annuity value of £2,873/€3,648 was based on the conversion of a capital sum of £29,500/€37,457 for a 24 year male, a 10% interest rate and the AP (90) standard mortality table. It stated that no account was taken of taxation.
As outlined previously to the Deputy, Section 13(2) of the Army Pension Act 1923 provides that any compensation received may be taken into consideration in fixing the amount of any pension, allowance or gratuity awarded under the provisions of the Army Pensions Acts. The underlying objective is to take into consideration awards made ‘on the double’ for the same disablement.
