Dáil Éireann Debate, Tuesday - 18 September 2012
206. Deputy Eoghan Murphy asked the Minister for Finance the estimated amount of money currently on deposit in financial institutions in the State formerly belonging to persons who are now deceased and who did not leave any indication of any beneficiary nor any living relatives known to the authorities. [37033/12]
Amharc ar fhreagraI am advised by the National Treasury Management Agency - which is the manager of the Dormant Accounts Fund - that the balance of the Fund as at 31 August 2012 was €169,305,657. The Fund does not refer only to deposits of persons who are deceased. An account will be considered to be dormant if it has been 15 years since the last customer-initiated transaction. Under the Unclaimed Life Assurance Policies Act 2003, the net encashment value of certain life assurance policies are also transferred to the Fund where the holders of the policies in question cannot be traced. The NTMA is not in a position to determine how much of the balance in the Fund came from individuals who died intestate, or from accounts which have not been used for 15 years or more.
