Seán Fleming (Laois, Fianna Fail) | Oireachtas source

Clear as mud. People get it. Regarding public sector bodies, if it was a private company, it would have to provide for a pension fund in its account. However, because it is a public sector body, some take the view that there will be funding from the State in due course to cover this and so do not provide for the full liability in its accounts because it knows the State, because of the statutory situation, will pick up the pension liability for those publicly-----