Dr. Colm O'Reardon:

I will ask Mr. Moynes to give a little history. There was a funded university scheme that covered five institutions which the State effectively took over in 2009. The State took on whatever pension funds were there, but it also took on the responsibility for paying out the pensions through the higher education institutions. There is an ongoing process of estimating what the deficit is or what the requirements are. It depends on the number of people who retire in a given year. Year by year, the Department is trying to address an historic deficit in those pension funds.