Tag Archives: Deficit

This morning.

Via Independent.ie:

A huge deficit has emerged in the pension fund covering thousands of credit union staff.

The €78m deficit is so large it has the potential to financially destabilise the sector, according to credit union sources.

The shortfall has ballooned from just €6m in 2017. It hit €20m in 2020, but it has jumped to €78m for this year, due to the impact of low interest rates on the scheme.

The scheme is overseen by the Irish League of Credit Unions and covers staff in that organisation along with employees in affiliated credit unions.

The shortfall will have to be made up by individual credit unions that are members of the league, it states in a memo from pension advisers to the league marked “confidential” and seen by the Irish Independent.

Vanessa!

€78m deficit in credit union pension fund has potential to destabilise sector (Independent.ie)

RollingNews

The launch of RTÉ’s Autumn/Winter 2018/2019 schedule last Summer.

This afternoon.

RTÉ ‘s annual report has revealed a net deficit of €13m in 2018.

The media organisation said although there had been a modest increase in total revenue, and a reduction in operating costs, the cost of special events – including the Papal Visit, the Presidential Election and coverage of the FIFA World Cup – contributed to the overall deficit.

Director General Dee Forbes said RTÉ could do a lot to help itself, but it needed action from Government and that had not come in to play, and that the licence fee system was no longer fit for purpose.

Ms Forbes added that RTÉ cannot continue in deficit because it will not have the cash to facilitate those deficits.

RTÉ reports net deficit of €13m for 2018 (RTÉ)

Rollingnews