Ó An Roinn Forbartha Tuaithe agus Pobail
Foilsithe
An t-eolas is déanaí
Teanga: Níl leagan Gaeilge den mhír seo ar fáil.
Minister of State at the Department of Rural and Community Development, Joe O’Brien, today (24 June 2022) published the 2021 Dormant Accounts Fund Annual Report.
Money in the Dormant Accounts Fund can be used to fund measures that address economic, social, or educational disadvantage and to support people with a disability. The 2021 Annual Report details that expenditure on Dormant Accounts measures over the year amounted to €51.8 million across 11 government departments.
Publishing the Annual Report today, Minister O’Brien said:
“I am delighted to publish the Dormant Accounts Fund Annual Report 2021 which shows that funding of over €51 million was provided in 2021 to help address disadvantage right across Ireland. The 51 measures included in the report were implemented across Government and have helped to address a diverse range of issues such as providing programmes to support children and youths; prisoners; carers; victims of crime; those suffering domestic violence; homelessness; and marginalised groups such as the Traveller and Roma Community.”
The Minister continued:
“Dormant Accounts funding makes a real difference to individuals and communities right across the country. It is helping vulnerable individuals, supporting social inclusion, and strengthening our communities. I am particularly happy to see a successful focus in 2021 on assisting the Traveller and Roma communities, for example.”
Minister Heather Humphreys noted:
“I welcome the publication of the 2021 Dormant Accounts Annual Report which outlines how over €51 million in funding supported disadvantage groups last year. Within our department, €12.5 million was channelled towards the likes of the Senior Alerts Scheme, Social Enterprise and our libraries. I am delighted too with the progress made in terms of increasing Dormant Account funding across Government over the last few years and I look forward to the continued positive impact it is having in disadvantaged communities throughout Ireland.”
Total expenditure from Dormant Account Fund in 2021 was €51.8 million for 51 measures across 11 departments. The Annual Report provides information on these measures and also detailed 3 case studies of measures/projects funding in 2021.
Expenditure occurred across a range of departments, funding measures to support children and youths; prisoners; carers; victims of crime; those suffering domestic violence; homelessness; and marginalised groups such as the Traveller and Roma Community.
The Dormant Accounts Acts 2001-2012, together with the Unclaimed Life Assurance Policies Act 2003, provide a framework for the administration of unclaimed accounts in credit institutions (that is, banks, building societies and An Post) and unclaimed life assurance policies in insurance undertakings.
The main purpose of the legislation is to reunite account or policy holders with their funds in credit institutions or insurance undertakings and in this regard, these bodies are required to take steps to identify and contact the owners of dormant accounts and unclaimed life assurance policies.
However, in order to utilise the unused funds the legislation also introduced a scheme for the disbursement of funds that are unlikely to be reclaimed from dormant accounts and unclaimed policies for the purposes of measures to assist:
1. the personal and social development of persons who are economically or socially disadvantaged
2. the educational development of persons who are educationally disadvantaged, or
3. persons with a disability
The following table provides a summary of measures and funding provided in 2021 to each relevant government department. Full details are within the Annual Report itself:
