Bank of Ireland pension deficit rises to record €1.6bn

clock •

IRELAND - Bank of Ireland's (BoI) pension deficit hit record negative levels at the end of 2009, when it reached €1.6bn (US$2.1bn), the bank's preliminary results for the nine months up to December 31 revealed.

  The deficit has been worsening since March 2007 when it stood at €795m due to increased longevity of pensioners, lower interest rates, historically high wage inflation and subdued investment r...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

Author spotlight

Giovanni Legorano

View profile
More from Giovanni Legorano

FEATURE: Dutch funding levels battered by low discount rates

Ready for new scenarios

More on Ireland

Ireland

Building Ireland's new pensions regime

Like many other European countries, Ireland has been faced with the question of how to deal with its public sector pension liabilities. However, as the Bill makes its way through Parliament Helen Morrissey assesses whether the proposed changes will prove...

Helen Morrissey
clock 01 November 2011 •
Ireland

Taking a long-term view of Ireland's pensions

The Irish Association of Pension Fund's Jerry Moriarty looks at some of the major policy developments of the past year and asks what impact they will have in the future

Jerry Moriarty
clock 01 November 2011 •
Ireland

Brendan Howlin: Bringing change to Irish pensions

The Irish government has implemented a raft of contentious changes to its public sector pensions as it looks to reign in costs including raising the pension age and increasing contributions. Helen Morrissey talks to minister for public expenditure and...

Helen Morrissey
clock 01 November 2011 •
Trustpilot