Dáil debates
Thursday, 23 June 2011
Ministers and Secretaries (Amendment) Bill 2011: Committee and Remaining Stages
3:00 pm
Brendan Howlin (Wexford, Labour)
----but I have no reason to believe that. I can make the inquiries for which the Deputy has properly asked. As I indicated in my earlier reply, the trustees of the fund - even though a considerable amount of money, more than €1 billion, was provided for it - were smart enough to insist that there would be a contingent liability should the event arise that it would not be sufficient to meet the pre-vesting debt liability. The pre-vesting debt liability only relates to service given before vesting day. Consequently, it is not something that is newly-accruing and the scale should be known. It does not relate to pension costs arising from the current pension fund provisioning, if the Deputy is following me.
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