Willie Penrose (Longford-Westmeath, Labour)
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Question 109: To ask the Minister for Finance the current value of the National Pensions Reserve Fund; the proportion of its total value consisting of cash or near cash holdings; and if he will make a statement on the matter. [6318/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The National Pensions Reserve Fund was established on 2 April 2001 under the National Pensions Reserve Fund Act 2000 with the objective of meeting as much as possible of the cost to the Exchequer of social welfare pensions and public service pensions to be paid from the year 2025 until at least 2055.

A preliminary 2008 end-year valuation of €16,355 million was published in the National Treasury Management Agency's Preliminary Results for the year 2008. This valuation was, in the case of direct quoted investments, based on valuations as of close of business on 30 December and, in the case of indirect investment vehicles, based on the most recently available valuations.

These preliminary results also indicated that the NPRF held cash balances of €1.7 billion (10.4% of the total Fund) at that time.