Let's talk

LCP Pensions Accounting Briefing 2020

Pensions & benefits

LCP publishes analysis of Ireland’s largest defined benefit pension scheme finances.

Now in its twelfth year, the analysis by Lane Clark & Peacock Ireland Limited (LCP) of defined benefit pension scheme finances in Ireland’s largest publicly quoted and State-controlled companies shows that the aggregate pension deficit has fallen close to nil by Q3 2020.

LCP estimates that the aggregate pension deficit for the Irish funded schemes of the companies
analysed stood at €0.1bn as at 30 September 2020 (with total estimated assets of €28.6bn compared to total estimated liabilities of €28.7bn) compared to a deficit of €1.0bn at 31 December 2019.

The longer-term analysis shows a marked improvement in average funding levels over the ten years following the economic crash. Despite the effects of short-term volatility, the analysis shows that the average funding level of the companies analysed rose from 81% in 2008 to 92% in 2019.

Explore the report

Accounting for Pensions 2020