Pensions fund reports returns of almost 20% last year
06/03/2006 - 14:52:46The National Pensions Reserve Fund has said it enjoyed returns of 19.6% on its investments last year.
The fund was established five years ago in an effort to ensure the State can afford to pay pensions in future years, when a bigger proportion of the population will be over 65.
The Government puts 1% of GNP into the fund every year. The money is then invested in stocks and shares.
The officials who oversee the project said today that the returns for 2004 were the best to date and brought the total value of the fund to more than €15.4bn.
