PUBLIC sector pensions make up a quarter of the pension money owed to households in the State. New figures show that total liability of public sector defined benefit schemes amounted to just short of €150bn in 2018. Defined benefit pension still exist in the public sector, but are disappearing from the private sector as they are so expensive to fund. The total liability equated to a staggering €607.9bn, when the State pension, private sector pensions and public sector pensions are added together. State pension schemes liabilities amounted to €359.2bn.

Source: Irish Independent February 10, 2021 12:31 UTC