Vol. 533 No. 6
181 Mr. McDowell asked the Minister for Finance if the State has a continuing liability in relation to the pension fund which caters for former employees of the Department of Post and Telegraphs, now Eircom; if he has satisfied himself that appropriate provision has been made for such pensioners; and if he will make a statement on the matter. [9678/01]
In December 1999, the State paid a sum of £800 million into a fund established to meet superannuation benefits payable to Eircom staff, who were formerly employees of the then Department of Posts and Telegraphs, in respect of pre-vesting day service.
Actuarial advice received by me indicates that this sum should be adequate to meet all the liabilities arising. However, in the unlikely event that a shortfall might arise, the State would be required to make a further payment to the fund. Equally, if there is a surplus in the fund, it would accrue to the Exchequer.
