Paul Murphy (Dublin South West, Solidarity)
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901. To ask the Minister for Rural and Community Development for an update on the future of the dormant accounts fund; the plans in place to support those projects and programmes currently funded by the dormant accounts fund when the funding finishes; the discussions he has had on this; and if he will make a statement on the matter. [13876/25]

Dara Calleary (Mayo, Fianna Fail)
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The main purpose of the Dormant Accounts Acts is to reunite account holders with their funds. Unclaimed funds are transferred to the Dormant Accounts Fund, which is managed by the National Treasury Management Agency. The beneficial owner has a right to reclaim their money at any time.

Legislation governing Dormant Accounts established an administrative framework within which Departments could apply for funding from the Dormant Accounts Fund. Since July 2017 the Minister for Rural and Community Development has held responsibility for this function. Under this administrative framework a 3 year high level Disbursement Scheme is put in place, which indicates broad areas for support. Annual Action Plans are developed each year which approve funding for specific measures or projects.

With regard to the current status of funding available for the Dormant Accounts Fund, at the end of 2024 there was €217 million in the Dormant Accounts Fund, with €126 million of that held in reserve for those reclaiming their funds. This leaves €91 million available for disbursement. This will be supplemented by inflows in April 2025, the level of which depends on the number of accounts becoming dormant. Ensuring a sustainable use of this funding is central to the work of my Department, and future levels of funding are dependant on the levels of inflow into the fund.

My Department published the 2025 Dormant Accounts Fund Action Plan in November 2024. It outlines measures and funding across 10 Departments, with total funding of €44.8 million to support 51 measures. The programmes and projects in the Action Plan target social, economic and educational disadvantage, and people with a disability - in line with the objectives detailed in the legislation. My Department operates an interdepartmental steering group so as to ensure funding is put to best use, pressures in terms of funding need are understood across Departments, and any particular challenges are considered when developing Action Plans.

Further information on the Dormant Accounts Fund, including all published Action Plans and Annual Reports, is available on my Department’s website at the following link: www.gov.ie/en/collection/769773-dormant-accounts-fund-annual-action-plans-and-reports/