Mr. Seamus McCarthy:

Historically, the institutes of technology did not pay pensions. The pensions were handled by local authorities in relevant areas. In 2015, there were changes to the statutory pension scheme. Anybody who was on a pension scheme in the institutes of technology pre-2013 was brought into a new pension scheme. The legislation that set that up provided for the institutes to be liable. However, in their financial statements, they have not recognised those liabilities. The pensions are being paid by the pensions section of the Department of Public Expenditure and Reform as the agent of the Department of Education and Skills. There is a question as to where the liability should be recognised. I am just drawing attention to it because it is not compliant with the framework for accounting that the institutes of technology are following. I am obliged to do that. It is a technical matter as to where the liability exists. Nobody is suggesting that the pensions will not be paid but there are different accounting arrangements and nobody is recognising the liability that has already accrued and continues to accrue.