Tuesday, 13 May 2014

Ceisteanna (578)

Seán Fleming


578. Deputy Sean Fleming asked the Minister for Health the number of commercial semi-State companies under the aegis of his Department; the current value of the pension fund assets held by each commercial semi-State company; the latest funding position of each; and if he will make a statement on the matter. [20907/14]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Health)

The VHI is the only commercial semi State Company under the aegis of my Department. Information in respect of their pension scheme is provided in the company annual accounts, and VHI's 2013 Annual Report and Accounts will be published in the coming months. I am informed by VHI that the following is the position.

The net assets of the VHI Defined Benefit scheme at 31 December 2013 were €170m. On an FRS 17 basis the scheme had a deficit of €34m at 31 December 2013, which is an improvement from €36.6m at 31 December 2012. On a Minimum Funding Standard basis the scheme meets the standard and has improved its position from 107% at 31 December 2012 to 115% at 31 December 2013.