Oireachtas Joint and Select Committees

Thursday, 24 November 2022

Public Accounts Committee

Financial Statements 2021: National Lottery Fund

9:30 am

Mr. Derek Donohoe:

On an annual basis, we obtain an actuarial review of the pension liabilities by an independent actuarial expert. That amount is obtained for inclusion in the financial statements. As of 31 December 2021, the amount was €3.2 million for those who are not members of the single scheme. While that was not provided for as a liability on the balance sheet, it was noted in the notes to the accounts that there was this liability for these pensions. There has been disclosure of the amount all along. The most recent actuarial valuation was done as at 31 December 2021 and those are the amounts included in note ten to the accounts.