HC Deb 08 June 1896 vol 41 c612

I beg to ask the Secretary to the Treasury, what is the present condition of the Irish Teachers' Pension Fund; when the last actuarial report upon the Fund was made, and by whom; whether this Report has been published; what is the total balance in cash and investments standing to the credit of the fund, and on what securities it is invested; and, whether he will lay before the House a complete statement of the dealings with the fund since its establishment?


The valuation of the Fund on 31st December 1895 showed that it possessed a sum of £482,416 invested in Government securities, besides the charge of £1,300,000 on the Irish Church Fund. The valuation shows considerable ultimate excess of liabilities over assets, though the latter are sufficient to meet all demands on the Fund for many years to come. It was immediately submitted to the Government Actuary, Mr. Finlaison, who has furnished a confidential Report, and a Committee has been appointed to consider the steps necessary to establish the solvency of the Fund. As soon as the Report of the Committee has been considered by the Government, a full explanation of the position of the Fund will be made to Parliament. The hon. Member is probably acquainted with the account presented on 20th March 1896 and similar accounts in previous years, also with House of Commons Paper No. 332 of 1893.