Tuesday, 7 March 2017
Department of Public Expenditure and Reform
Public Sector Pensions
362. To ask the Minister for Public Expenditure and Reform when his Department will be carrying out an actuarial valuation in respect of the accrued liability of public service occupational pensions; and if he will make a statement on the matter. [11299/17]
On foot of EU Regulation (EU) 549/2013 the C.S.O. will be required to report on the gross liabilities of Irish pension schemes as part of the National Accounts.
Reporting is mandatory, commencing with an end 2015 position. This exercise is being undertaken by D/PER on behalf of the C.S.O following on from a previous exercise to determine an Accrued liability figure in respect of the National Accounts by the former Actuary in respect of 2012.
Under the 2012 exercise the accrued liability was €98bn. This represents the present value, at end December 2012, of all expected future superannuation payments to current staff and their spouses in respect of service to date, plus the full liability for all future payments to current and preserved pensioners and to their spouses.
An updated figure will be reported in 2017.
Further information regarding the accrued pension liability exercise can be found here: .