Pension Reserve Fund losses ease to €332m

THE massive losses of the National Pension Reserve Fund (NPRF) were substantially reduced in the first half of this year, according to the latest figures.

Reflecting stock market improvements the total loss incurred by the Fund has eased from €737m to €332m in the six months to end June, 2003.

NPRF chairman Donal Geaney ruled out any curtailment of the build-up of the fund to boost capital spending in the coming years in order to divert cash to capital projects.