Written answers
Wednesday, 14 October 2009
Department of Finance
Social Insurance
Michael Ring (Mayo, Fine Gael)
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Question 165: To ask the Minister for Finance if the surplus in the social insurance fund has been invested over the past ten years; the returns from these investments in tabular format; and if he will make a statement on the matter. [36149/09]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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An annual surplus on the Social Insurance Fund first arose in 1997 and this has been invested, subject to ministerial guidelines, since then. In 2001, the Minister for Finance delegated his investment authority to the NTMA. As a result of increases in social welfare expenditure it is now expected that the surplus will disappear during 2010. Full information on the position of the surplus and interest on its investment in 2009 is not available yet. Annual accrual figures (in euros) from the investment of the accumulated surplus of the Social Insurance Fund are as follows:
Interest received to date €m
31 December 2008 160.2
31 December 2007 112.0
31 December 2006 53.1
31 December 2005 49.0
31 December 2004 34.6
31 December 2003 40.7
31 December 2002 51.0
31 December 2001 45.8
31 December 2000 26.6
31 December 1999 3.5
31 December 1998 1.7
31 December 1997 .3
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