National pensions fund announces 9.3% return for 2004

The National Pension Reserve Fund has announced that it made a return of 9.3% last year, bringing its total value to €11.7bn.

The fund was established a number of years ago to put money aside to meet future pension costs.

These costs are expected to rise significantly in the coming decades due to Ireland’s ageing population.

Launching the fund’s annual review for 2004 today, NPRF chairman Donal Geaney said the ratio of workers to pensioners currently stood at 5:1, but this was expected to fall to 2:1 by the middle of this century.