Written answers
Tuesday, 7 June 2011
Department of Finance
National Pensions Reserve Fund
9:00 pm
Pádraig Mac Lochlainn (Donegal North East, Sinn Fein)
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Question 74: To ask the Minister for Finance the total funds currently contained in the National Pensions Reserve Fund; and his plans for these funds. [14235/11]
Michael Noonan (Limerick City, Fine Gael)
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The total value of the National Pensions Reserve Fund (NPRF), according to its most recently published figures, was €23.2 billion at 31 March 2011. Of this, - €7.9 billion is invested in Bank of Ireland and Allied Irish Banks on the direction of the Minister for Finance; - €5.5 billion is held in cash on foot of a direction from the Minister for Finance in February 2011. This will form part of the contribution required from the Exchequer under the EU-IMF Programme of Financial Support for Ireland;
- €8.4 billion represented the value of investments held by the NPRF Commission, and
- €1.4 billion was held in cash by the NPRF Commission.
The NPRF Commission was directed to realise a further €4.5 billion in April 2011, bringing the amount set aside from the Fund for the EU/IMF Support Programme from €5.5 billion to the full €10 billion envisaged.
The Government is currently examining the role which the NPRF may play in assisting economic growth having regard to the provisions of the Programme for Government.
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