Joan Burton (Dublin West, Labour)

Earlier in the summer we were told of the Minister's arrangement to take on the assets and liabilities of certain semi-State and public bodies, including universities. Has an actuarial analysis being carried out as to the extent of these assets and liabilities and the further liabilities the State may be taking on? Will legislation be necessary in this area?

In his Budget Statement, the Minister stated he was carrying out a review of the terms of reference for the National Pensions Reserve Fund. When is this report due? When will any necessary legislation be brought before the House? The Minister has not made it clear whether he intends to continue contributing 1% of GNP to the National Pensions Reserve Fund. From some of his more recent comments, I gather he does not intend to do so because it may force him to borrow.

The latest figures from the fund show that in the nine months to September 2008, it lost 17% in value. Is that a concern, given that it is an important element in meeting provision for certain public service and social welfare pension liabilities in 2025?

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