Oireachtas Joint and Select Committees
Thursday, 17 October 2013
Public Accounts Committee
Forfás Annual Accounts 2012
11:05 am
Mr. Martin D. Shanahan:
Again, it depends. The figure for the future liability depends on the assumptions underlying the liability. It is primarily driven by the discount rate and we will have to decide at the end of the year what discount rate should be applied to this. It is actuarially derived. That is the liability out into the distant future in terms of pensions. It could increase in 2013 but if a higher discount rate was applied, it might reduce slightly.