Question:
387 Dr. Upton asked the Minister for Finance the way in which the 1% contribution will be made to the national pension reserve fund for each of the next five years; and if he will make a statement on the matter. [1105/02]
Written Answers. - National Pension Reserve Fund.
Section 18 of the National Pensions Reserve Act, 2000, states that every year, commencing in the year 2001 and continuing until the year 2055, the Minister for Finance shall pay into the national pensions reserve fund from the central fund or the growing produce thereof, in equal quarterly instalments, a sum equivalent to 1% of the gross national product. Payments over the next five years will be made as provided for in section 18 of the Act.