The Economic and Social Research Institute (ESRI), which last year accused the government of blowing the finances from the boom years, has developed financial difficulties of its own with a "significant" deficit in its pension fund.

The Sunday Tribune has learned the state's economic think-tank has recently alerted the government to the issue with its pension fund.

A spokeswoman for the ESRI said that its "parent department [the Department of Finance] was fully aware of all its finances, including the pension fund", but did not wish to comment further "at this time".

The ESRI is not unique in having a deficit in its pension fund. The Sunday Tribune last year reported that the cabinet had been informed that 90% of defined benefit sche­mes were expected to be in deficit. The total deficit in all pension schemes in the state is estimated to be in the region of €20bn-€30bn.

However, government ministers may find it ironic that the state's leading body on economics is experiencing such difficulties.

This development with the ESRI pension fund coincides with the passing through the Dáil of legislation that will see the state take over the pension liabilities of five of the country's oldest universities. A number of these funds are also in deficit and the National Treasury Management Agency (NTMA) will take over their management. While the move will boost the exchequer finances – because of the addition of the assets of the pension funds to the state's books – government sources said the decision to absorb the pension funds was not made for this reason.

One possible scenario for the government would be to similarly absorb the pension fund of the ESRI, which has close links with the universities.

However, it is unclear whether there would be an appetite in the Department of Finance for such a move.