Oireachtas Joint and Select Committees

Thursday, 10 October 2024

Public Accounts Committee

Financial Statements 2023: Land Development Agency

9:30 am

Mr. John Coleman:

Our pension arrangements are, in general, very straightforward. They would be along the lines of other comparable State bodies, including Irish Water and others. It is a defined contribution scheme for staff whereby contributions are made by staff and the employer in the normal way. They are at the level that would be comparable to other organisations such as Uisce Éireann. That is the main scheme. Some of the narrative in the accounts around why some people came through from a different scheme may have focused on technicalities. Some of those staff members were employed by other State bodies beforehand, which gave them an entitlement - or a requirement, even - to having their existing schemes maintained for a period until the new entity was incorporated. Barring the chief executive, all staff are now in the defined contribution scheme.