Dáil Éireann díospóireacht -
Tuesday, 2 Dec 1997

Vol. 483 No. 6

Written Answers. - Pension Provisions.

Michael Noonan

Ceist:

133 Mr. Noonan asked the Minister for the Marine and Natural Resources the arrangements, if any, he will make to fund pensions for certain officers of the Limerick Port Authority for which no provision was made by Limerick Harbour Board; and if he will make a statement on the matter. [21395/97]

Minister for the Marine and Natural Resources (Dr. Woods)

The adequacy of the pension funds in place at Shannon Estuary Ports Company, in the first instance, is a matter for that company since it was vested as the successor to the Limerick Harbour Commissioners in March 1997.

Section 41 of the Harbours Act, 1996 provides that the Exchequer may contribute, in specified circumstances, where a fund established by a port company does not comprise sufficient moneys or where the company concerned does not have the necessary resources to discharge benefit payments as they fall due.

Any such Exchequer contribution is confined to addressing the pre-vesting date liabilities.

As the Deputy may be aware, a total of eight port companies were vested in March 1997 including Shannon Estuary Ports Company. I am at present examining the situation for pension funds established at all eight port companies, having regard to each company's resources and all the possible options to address shortfalls where they occur, including any Exchequer intervention, in the context of the port companies discharge of their essential commercial mandate.