Pensions fund nets €2.2bn profit

THE National Pension Reserve Fund (NPRF) made a €2.2 billion profit on its investments in 2005.

The fund, set up to finance the payment of public sector pensions, increased in value by €3.6 billion to €15.3 billion this year. Excluding the Government’s €1.3 billion contributed to the NPRF, it made a 19.2% return on its investment in world stock markets, property, bonds and other assets.

The National Treasury Management Agency (NTMA), which oversees the Fund’s investments, said the rise in share prices in 2005 drove the fund skywards.