Probe into 'cash mountain' in colleges

Irish Independent 14 August 2015

The Dáil's spending watchdog is to investigate an "anomalous" €160 million (US$178 million) cash mountain in Irish universities which is growing by €30 million a year, write Daniel McConnell and Katherine Donnelly for the Irish Independent.

The substantial cash reserves have arisen since 2009 when pension schemes in five universities were transferred into the central state fund. However, the Higher Education Authority, or HEA, has continued to pay €30 million a year into the universities as if their schemes were still operating, and members of parliament are now demanding answers as to what is going on.

The universities at the centre of the new investigation by the Dáil's Public Accounts Committee are: University College Dublin, University College Cork, NUI Galway, NUI Maynooth and Trinity College Dublin. The HEA has denied the payments amount to a "bail out" of the schemes which were hugely in deficit, insisting it is simply ensuring that retired employees receive their legal entitlements agreed with their employers at the time.
Full report on the Irish Independent site

Receive email updates from UWN

Global newsletters    Africa newsletters    Other
    (other includes related events and webinars)

Data will be processed according to our standard terms & conditions.

Sponsored Article

Apply for Wege Prize – Change the world and earn cash rewards

Ferris State University staff

Around the globe, university students with big ideas for making their communities and the world better and helping solve some of today’s biggest problems – pollution, hunger, waste, and more – are applying for Wege Prize, an international design competition with a prize pool of US$65,000.

Promoted by Ferris State University.

Sponsored Article

Sustainability-centred Impact Hub at Stellenbosch University

Stellenbosch University staff

Stellenbosch University’s vision to be a systemically sustainable institution addressing continental and global sustainable development challenges is beginning to bear fruit. Not only is it educating future leaders, policy-makers and professionals in this space, but it is also finding solutions through research, training and development.

Promoted by Stellenbosch University.

Sponsored Article

Supporting Pride is about commitment to campus diversity

University of Victoria staff

ABET, the global accreditor of science, computing, engineering and technology programmes, is supporting Pride Month and prioritising equality, diversity and inclusion. It believes collaboration between a diverse pool of talent is a vital contributor to finding the best solutions to the world’s problems.

Promoted by ABET.

Sponsored Article

Ground-breaking research on seawater biodesalination

UAE University staff

As water scarcity reaches critical levels globally, a research team at the United Arab Emirates University seeks to revolutionise seawater desalination practices, offering a path to mitigate water scarcity while championing environmental preservation.

Promoted by United Arab Emirates University.