asked the Minister for Transport and Power the total amount in the CIE workers' pension fund; the annual withdrawals from this fund in each of the past five years; and the total annual interest accruing over the same period.
23.
Ceisteanna—Questions. Oral Answers. - CIE Pensions Scheme.
22.
asked the Minister for Transport and Power the amount at present in the CIE regular wages staff pension scheme.
With the permission of the Ceann Comhairle, I propose to take Questions Nos. 22 and 23 together and as the reply is in the form of a tabular statement I propose to circulate it with the Official Report.
Following is the statement:
CIE Wages Grade Pension Scheme.
Amount in fund at 31/12/70: £7,108,364.
|
1966 |
1967 |
1968 |
1969 |
1970 |
|
|
£ |
£ |
£ |
£ |
£ |
|
|
Annual Withdrawals from the Fund |
275,124 |
341,676 |
350,579 |
377,726 |
407,891 |
|
Total annual interest |
241,057 |
282,368 |
318,805 |
355,847 |
406,714 |
I do not think the answer to Question No.23 is in the form of a tabular statement.
It is in the statement.
It is a simple question. It is one figure.
I have it here. If the Deputy wants me to go through this I will.
I do not think the Minister is entitled to take these two questions together. They are not the same and there is no relation between them.
I have the facts here and it is a matter for the Ceann Comhairle to decide.
Will the Minister answer Question No. 23, which asks for the amount at present in the CIE regular wages staff pensions scheme? That is a fact. It is not a tabular statement.
I answered that before.
The Minister may have answered it in the past, but would he answer it now?
The assets are £10,971,000. The liabilities are £14,036,000.
Ten million pounds? It is a good way of financing the State Capital Programme, is it not?
In long terms the assets are £10 million and the liabilities are £14 million. It is all there in the tabular statement.
Is the Minister again quoting these chaps who make calculations? Is that what he is telling me?
The men who make calculations are paid to make calculations.
They are entitled to make calculations but the Minister is not entitled to tell us it is the truth
Would the Minister state what interest is accruing on that amount?
The total annual interest is there and the Deputy should put down a question on that.
I have put a question down on it.
It varies from £241,057 in 1966 to £406,714 in 1970.
Is the interest added to the fund?
Yes, of course.