Oireachtas Joint and Select Committees

Thursday, 27 February 2014

Public Accounts Committee

Payments to Section 39 Companies: Discussion

1:20 pm

Photo of Gerald NashGerald Nash (Louth, Labour) | Oireachtas source

It was in 2012 and Ms Kerins put that on the record earlier. From an accounting point of view, there was a total gain to the company of €59 million. That is an accounting mechanism to reflect the wind-down of the defined benefit pension scheme. On page 17, there is a point in respect of a settlement obligation of €7 million in respect of the defined benefit scheme. I ask Ms Kerins to elaborate on this. What does it involve?

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