Millions of euro in compensation payout investments lost by State

A Dáil report has called for an independent review of how compensation payouts to vulnerable people are invested by the State, after millions of euro were wiped out during the recession.

The Public Accounts Committee will make the call today, alongside claims some recipients are in danger of dying in poverty because their funds are running out, following a three-month examination of the wards of court system.

Under the current system, the State is responsible for overseeing the investment of €1.47bn in court-ordered payouts to 14,000 children until they turn 18, and 4,500 adults who due to “catastrophic” brain injuries and other issues cannot represent themselves.