Kevin Humphreys (Dublin South East, Labour)
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79. To ask the Minister for Finance if he has held any discussions with the National Pension Reserve Fund, the Department of Environment, Community and Local Government or Dublin City Council about the use of funds in the NPRF for the funding of the incinerator at Poolbeg, Dublin 4; if he will provide details of any such discussions; if he will outline his position on this matter; and if he will make a statement on the matter. [32778/13]

Michael Noonan (Limerick City, Fine Gael)
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The National Pensions Reserve Fund was established in 2001 to meet as much as possible of the costs of social welfare and public service pensions from 2025 when these costs are projected to increase significantly1 due to the ageing of the population.

Under the National Pensions Reserve Fund Act 2000, the National Pensions Reserve Fund Commission controls and manages the National Pensions Reserve Fund (NPRF). The Commission has discretionary authority to determine the Fund’s investment strategy in accordance with the Fund’s statutory investment policy of securing the optimal total financial return provided the level of risk to the moneys held or invested is acceptable to the Commission.

The NPRF does not comment on potential investments for reasons of commercial confidentiality. For various reasons not all opportunities considered by the NPRF necessarily result in an investment. Where the NPRF does ultimately make an investment commitment, these are detailed each year in the Portfolio of Investments section of its Annual Report and where significant are announced at the time.