11.03.2014 - Ireland: Reinventing a national pension scheme
It has been used to bail out the banking system and will soon change its name as part of a reorientation to support Irelandís domestic economy with private equity and direct investments. The NPRF, a so-called mini sovereign wealth fund managed by Irelandís National Treasury Management Agency, was first set up by the Irish government in 2001 to deal with the prospect of an ageing population. Charlie McCreevy, Irelandís minister for finance at the time, estimated that Irelandís social welfare and public service pensions costs would rocket from 4.7% of gross domestic product to 12.4% by 2050...............................................Full Article: Source
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