Blood service pension pot insolvent, CEO confirms

The Irish Blood Transfusion Service (IBTS) has a €35m hole in its pension pot, up from €24m at the end of 2010.

The figure was confirmed by chief executive Andrew Kelly yesterday after publication of the state-sponsored body’s annual report and in advance of publishing its annual accounts.

Mr Kelly said the pension fund was “currently insolvent”, but the IBTS was in talks with the Department of Health in an attempt to resolve the issue.