Pension Reserve Fund dips in value to €19.4bn

THE National Pension Reserve Fund – worth €25 billion at its peak – was valued at €19.4bn on June 30.

Set up in 2001, the fund, according to Government plans, is to be built up to €140bn by 2025, when it will be used to pay for public pensions.

Recent estimates suggest the figure of €140bn will fund about 30% of the State’s public sector pension costs by that date.