Oireachtas Joint and Select Committees
Thursday, 6 July 2017
Public Accounts Committee
2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of the Minister for Public Expenditure and Reform
Vote 12 - Superannuation and Retired Allowances
Vote 18 - Shared Services
Vote 39 - Office of Government Procurement
Chapter 3 - Vote Accounting and Budget Management
Comptroller and Auditor General Special Report 95: Financial Reporting in the Public Sector
9:00 am
Mr. Robert Watt:
It is not fully funded. The pension scheme we have now is pay-as-you-go. The liabilities we have every year are met from the general Exchequer. We have not pre-funded the pensions and we do not pre-fund them. Every year public sector pensions cost about €3.1 billion or €3.2 billion. That is funded-----
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