UCC may face €8m pension deficit

Spending watchdog criticises university’s financial statement.

University College Cork could be facing an €8.3m funding crisis in one of its pension funds as a result of a dispute with the Department of Education.

The university has also been criticised by the public spending watchdog, which claims that UCC’s treatment of the €8.3m figure in its 2012 financial statement is not in accordance with accounting standards.