Noel Dempsey
Question:103 Mr. Dempsey asked the Minister for the Environment if he will outline the present position in relation to local authorities investing in private pension funds; and if he will make a statement on the matter.
Written Answers. - Local Authorities Investments.
The provisions governing the superannuation of local authority staff are set out in the Local Government (Superannuation) Act, 1980, and a number of statutory schemes made there-under. Under these provisions local authorities are restricted from granting pensions except in accordance with the provisions of the statutory schemes, which do not provide for funding through investment in private pension funds.