Pension fund shortfall of €7.5m for INMO

Pension fund shortfall of €7.5m for INMO
INMO general secretary Liam Doran

The organisation contributed €1 million to the scheme in 2014

The Irish Nurses and Midwives Organisation (INMO) had a pension fund shortfall of €7.5 million at the end of last year.

The defined benefit scheme, which promises staff a guaranteed income in retirement, has liabilities of €21.3 million. The total market value of its assets stands at €13.7 million, leaving a hole of €7.5 million.

The organisation contributed €1 million to the scheme in 2014, according to its annual accounts.

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