Dinny McGinley
Ceist:278 Mr. McGinley asked the Minister for Finance if he will consider transferring funds from the national pension reserve fund in order to alleviate the burden placed upon local authority superannuation payments. [15530/03]
Written Answers. - Pension Provisions.
The objective of the national pensions reserve fund is to meet as much as possible of the cost to the Exchequer of social welfare and public service pensions to be paid from the year 2025 until at least the year 2055. To that end, there is a statutory prohibition on draw-downs from the fund prior to 2025. Draw-downs thereafter will be determined under ministerial rules by reference to projected increases in the number of persons over 65 and with a view to avoiding large fluctuations in the net Exchequer balance.
The use suggested by the Deputy for fund moneys would involve legislative change. I would not propose making such change, as it would conflict with the basic objectives of the fund as set out above.