Mr. Barry O'Brien:

I have checked my records. This matter was clarified by Mr. Kiely at our second last engagement when he distinguished between the two pension funds operating in the CRC, one of which was the voluntary hospitals pension fund - the VHSS that has been referred to - and the other relating to a group of workers in the CRC who were in a privately-funded pension scheme. He made reference to the fact that:

The Central Remedial Clinic's advisers on its pension fund, Irish Pensions Trust, took the opportunity of putting together an application in order that the clinic could address the deficit in the pension fund for the Pensions Board ... The 70 staff members were balloted. The partnership arrangement to meet the minimum funding standard by 2017 meant that the individuals had to increase their rate of contribution. They had to double their rate of contribution. The clinic had to increase its rate of contribution by 2.5% and put in a lump sum which was actuarially calculated. Consider the reason the books show the transfer of the €3 million. The €3 million was the lump sum that went in for those 70 individuals because it was unanimously accepted by the staff to protect their pensions.