Oireachtas Joint and Select Committees
Thursday, 22 November 2012
Public Accounts Committee
2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
10:50 am
Derek Nolan (Galway West, Labour)
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Mr. Corrigan can see why people might be quite annoyed. I understand it is not easy for the NTMA to change its investments. State Street has admitted it ripped us off to the tune of more than €3 million. It has not yet given the NTMA a full explanation of the reason for that. I assume it is taking fees, charges and management costs for the significant business it is continuing to do with us. Is Mr. Corrigan satisfied with that situation?