No public funds for University of Limerick pension debacle

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The University of Limerick campus

TAXPAYERS money will not pay for the more than €1million that was added to the University of Limerick pensions bill referred to in last month’s Comptroller and Auditor General’s (C&AG) report.

Instead, the university told the Higher Education Authority that private funding generated from commercial activities will foot the bill.

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The C&AG report revealed that UL added two employees from a subsidiary company, Plassey Campus Centre (PCC) to the UL pension scheme and added benefits totalling €1.2 million.

The report concluded that UL misrepresented the circumstances surrounding severance deals put in place for two employees and withheld information from the Public Accounts Committee the Department of Education and Skills and its own legal team.

This Monday, the Irish Times reported that UL insists that public taxpayers money will not be used to fund the pension scheme.

The C&AG report found that two employees from PCC had individual and company contributions on €708,000 transferred to the UL scheme.

It also emerged that UL added 324 professional service years to employees during 2012 and 2016, three times that of Dublin City University who operate a similar scheme.

The university said that it does not condone what happened and that a new management team is working to find solutions.