Thomas Byrne
Question:268. Deputy Thomas Byrne asked the Minister for Social Protection the number of defined benefit pension schemes in deficit. [18149/16]
View answerTuesday, 28 June 2016
Questions (268)
Written answers
According to information published by the Pensions Authority in May 2016 based on data submitted during 2014 and 2015 to the Pensions Authority under the Annual Actuarial Data Return, of a total of 666 defined benefit schemes 203 schemes were in deficit while some 463 schemes satisfied the requirements of the funding standard as set out in the Pensions Act.
The majority of these schemes in deficit have put in place funding proposals to bring them back into a funded position. The overall deficit in defined benefit pension schemes is estimated at €3.7bn. It is estimated that there are currently some €60.4 billion of assets in defined benefit pension schemes.
I hope this clarifies the matter for the Deputy.