From Department of Rural and Community Development
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The government has today (Tuesday, 8 November) published the Dormant Accounts Action Plan 2023 – a €54.5 million package aimed at disadvantaged communities and vulnerable groups across the country.
The Action Plan sets out 44 initiatives across 9 government departments, all of which are designed to support communities at a grassroots level.
From providing sporting and educational opportunities to our young people, to delivering projects for our elderly, disabled, marginalised and disadvantaged – the Action Plan aims to support those who need it most.
Funding for the Action Plan comes from unclaimed accounts in credit institutions (i.e. banks, building societies and An Post), as well as unclaimed life assurance policies in insurance undertakings.
The Action Plan was launched today at the Cherry Orchard Equine Centre by the Minister for Rural and Community Development, Heather Humphreys, Minister of State at the Department of Rural Community Development, Joe O’Brien, Minister for Sport, Jack Chambers, and Minister for Disabilities, Anne Rabbitte.
The Equine Centre is to receive €123,200 under the Action Plan, which will support Garda Youth Diversion Projects and initiatives to help young people find employment.
The projects that will be supported under the Action Plan include:
Other communities and projects being supported under the Action Plan:
Launching the Action Plan today, Minister Humphreys said:
“The Dormant Accounts Action Plan is a major initiative that aims to support communities at a grassroots level. The €54.5 million funding we are announcing today will benefit and support our young people, our elderly, people with disabilities, carers, as well as our marginalised and disadvantaged groups. The 44 projects that make up the plan have been put forward by 9 different government departments. These projects will help communities that suffer from disadvantage to overcome the challenges they face. And they will also provide great opportunities for people of all ages in terms of education, health and employment.”
Minister O’Brien stated:
“The 2023 Action Plan provides funding of €54.5 million to help address disadvantage right across Ireland. The 44 measures approved for funding will help to address a diverse range of issues such as Traveller equality, youth disadvantage, migrant integration and probation supports to prevent re-offending. Dormant Accounts funding makes a real difference to individuals and communities right across the country. The 2023 Action Plan being published today will help ensure that we can continue to support those who need it most during these challenging times. I had written to all Ministers asking that they give specific consideration to measures that would support Travellers therefore I am particularly pleased to see that €3.8 million is allocated for Traveller initiatives and services across five departments."
Also speaking today, Minister Chambers said:
“The €12 million allocation for sports measures enables us to implement a Sport for All approach for people in disadvantaged communities and for those with a disability. Sport has the power to improve and change people’s lives for the better. The health benefits of an active lifestyle are beyond dispute and everybody, irrespective of their socio-economic status, should have the opportunity to reap those benefits. That is why increasing the level of sports and physical activity participation in these marginalised communities is a top priority. We can continue to make real progress next year with the help of this Dormant Accounts funding being announced today."
Minister Rabbitte concluded:
"I'm glad to see such a big investment in supports for people with disabilities and family carers in the distribution of Dormant Accounts Funding announced today. It is another example of how we are working across Government to ensure people with disabilities are supported in their communities, particularly on their journey toward employment, self-employment, or further education. I think it is clear from the initiatives detailed in the Action Plan 2023, that there is a focus on empowering some of our most vulnerable, helping them achieve their goals, bolstering both their confidence and their skillset."
Dormant Accounts Fund Action Plan 2023
This document details the Dormant Accounts Action Plan for 2023
In total, 44 different measures, to the value of €54.5 million will be supported under the 2023 Action Plan. A full list of measures to be funded under the 2023 Dormant Accounts Fund Action Plan is set out in the table below.
Many measures have been funded in previous Action Plans and have now been approved for continued funding in 2023 to enable the measures to operate again next year. The majority of approved measures will progress in 2023, with each government department responsible for delivery of their own measures. Minister of State Joe O’Brien asked Ministers to try to propose actions that would be of benefit to the Traveller community. Measures can progress over a number of years with funding drawn down from the Fund as spending is incurred.
This Action Plan builds on previous plans and ensures continued support for individuals and organisations right across the country. Funding under the 2023 Action Plan of €54.5 million builds further on a strong growth in spend in recent years, based on the resources in the fund, and compares to €28.5 million approved in the 2016 Action Plan.
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 document provides a summary of measures and allocated funding under the Action Plan 2023 to each relevant government department. Full details are within the Action Plan itself.