Quite interesting how big a deal this is for RTÉ financially:
>The trustees and their investment managers have looked after RTÉ pensioners’ money very well. Last year’s performance, in particular, was exceptionally good. The superannuation fund generated €144.1 million in returns – a rate of over 13 per cent. In other terms, it added three times as much to the value of its investments than it paid out in pensions.
>With another €2 million in interest and returns on assets owned by the “50/50” scheme last year, income from RTÉ’s two main pension funds was hot on the heels of the €148.3 million the broadcaster generated in commercial revenue over the same period, from ad sales to mast transmission fees and sales of the RTÉ Guide all combined.
>The licence fee, meanwhile, provided just under €200 million to RTÉ last year.
>The RTÉ Superannuation Scheme alone generated returns much larger than the group’s advertising and sponsorship income of €120.5 million. Only once in the past decade, in 2014, did returns from pension investments come so close to catching up with RTÉ’s overall commercial revenue.
>. . .
>As its performance improves and members get older, the RTÉ Superannuation Scheme will also become increasingly safer in actuarial terms. If it remains as well-run as it is today, its ultimate surplus is on course to crystallise into a much larger sum than one full year of RTÉ’s commercial revenue.
>Whether any such windfall is used to give pensioners more generous benefits or to support the public broadcaster – or to do something entirely different – has yet to be decided. “There is no policy in relation to the distribution of future scheme surpluses,” a spokesperson for RTÉ told The Currency.
Also nice to see a proper declaration of interests, would be good to see this more often in media coverage:
>Declaration of interest: The Currency’s Editor Ian Kehoe is Deputy chair of RTÉ’s board. He is currently on annual leave and did not edit this article.
2 comments
Thats capitalism for ya. Dead money.
Quite interesting how big a deal this is for RTÉ financially:
>The trustees and their investment managers have looked after RTÉ pensioners’ money very well. Last year’s performance, in particular, was exceptionally good. The superannuation fund generated €144.1 million in returns – a rate of over 13 per cent. In other terms, it added three times as much to the value of its investments than it paid out in pensions.
>With another €2 million in interest and returns on assets owned by the “50/50” scheme last year, income from RTÉ’s two main pension funds was hot on the heels of the €148.3 million the broadcaster generated in commercial revenue over the same period, from ad sales to mast transmission fees and sales of the RTÉ Guide all combined.
>The licence fee, meanwhile, provided just under €200 million to RTÉ last year.
>The RTÉ Superannuation Scheme alone generated returns much larger than the group’s advertising and sponsorship income of €120.5 million. Only once in the past decade, in 2014, did returns from pension investments come so close to catching up with RTÉ’s overall commercial revenue.
>. . .
>As its performance improves and members get older, the RTÉ Superannuation Scheme will also become increasingly safer in actuarial terms. If it remains as well-run as it is today, its ultimate surplus is on course to crystallise into a much larger sum than one full year of RTÉ’s commercial revenue.
>Whether any such windfall is used to give pensioners more generous benefits or to support the public broadcaster – or to do something entirely different – has yet to be decided. “There is no policy in relation to the distribution of future scheme surpluses,” a spokesperson for RTÉ told The Currency.
[Breakdown of assets ](https://i.imgur.com/JNUOCuj.png)
Also nice to see a proper declaration of interests, would be good to see this more often in media coverage:
>Declaration of interest: The Currency’s Editor Ian Kehoe is Deputy chair of RTÉ’s board. He is currently on annual leave and did not edit this article.