Pensions Accounting Briefing 2019


LCP's eleventh analysis of defined benefit pension scheme finances in Ireland’s largest publicly quoted and State-controlled companies shows that pension scheme deficits for the companies analysed fell by 50% over 2018 to €1.1bn in December 2018 (with total estimated assets of €28.2bn compared to total estimated liabilities of €29.3bn).

However, the analysis also points to an almost 300% rise in deficits over the first three quarters of 2019, with pension scheme deficits in the companies analysed rising to an estimated €3.0bn at September 2019 highlighting the risks and volatility remaining in the funding positions of Irish pension schemes.

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 93% in 2018.

The full Report can be downloaded below.