Written answers

Thursday, 11 December 2008

Department of Finance

National Pensions Reserve Fund

8:00 pm

Photo of Michael D HigginsMichael D Higgins (Galway West, Labour)
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Question 35: To ask the Minister for Finance the work of a person (details supplied) on the review of the National Pension Reserve Fund; the terms of reference for this review; if consideration is being given to the adoption by the fund of comprehensive principles or rules on ethical investing; if consideration is being given to modifying the investment criteria to encourage investment in domestic infrastructure or public private partnership projects; and if he will make a statement on the matter. [45375/08]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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I announced in my Budget speech that I was conducting a review of the National Pensions Reserve Fund in the context of recent economic and fiscal developments. I asked Mr Maurice O'Connell, former Governor of the Central Bank, to conduct the review. Mr O'Connell has now submitted his review to me and I am considering his conclusions.

As I stated in my Budget speech, any changes requiring legislation will be brought forward in due course.

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