120 defined benefit pension schemes still had not submitted funding proposals to the Pensions Board as of last Thursday.

The figures were provided by the Board to Fianna Fáil Finance spokesman Michael McGrath.

The trustees of DB schemes are required by law to submit proposals on how they will address deficits.

The deadline for the submission of the proposals was June 30, at which point over 200 schemes had not submitted their proposals.

An estimated 200,000 workers are members of defined benefit pension schemes here.

They are more favourable to the worker as essentially the employer undertakes to guarantee a fixed portion of final salary.

The measures used by some schemes to address deficits include increasing contributions by employers or workers or both. Other measures include reducing benefits and in some cases even closing schemes.

Over 400 defined benefit schemes have shut down since 2008.