Written answers

Tuesday, 9 November 2010

Department of Education and Science

Pension Provisions

9:00 am

Photo of Denis NaughtenDenis Naughten (Roscommon-South Leitrim, Fine Gael)
Link to this: Individually | In context

Question 71: To ask the Tánaiste and Minister for Education and Skills the deficit in the FÁS pension fund; and if she will make a statement on the matter. [36396/10]

Photo of Seán HaugheySeán Haughey (Dublin North Central, Fianna Fail)
Link to this: Individually | In context

General Government policy is that public service pensions in the non-commercial semi-State sector are administered on a pay-as-you-go (PAYG) basis and the pre-funding for pensions in this sector is via the National Pensions Reserve Fund (NPRF). Following a Government Decision (S29075C) concerning certain universities' and non-commercial State Bodies' schemes, the FÁS closed superannuation scheme was converted to a Pay-As-You-Go scheme. The FÁS closed superannuation scheme relates to former employees of ANCO who made contributions to a Fund that was managed by FÁS. The assets of the Fund were transferred to the NPRF on 31 December 2009 on foot of a Transfer Order made under the Financial Measures (Miscellaneous Provisions) Act 2009. As the scheme is now administered on a PAYG basis, the question of a deficit does not arise.

Comments

No comments

Log in or join to post a public comment.