Paul McGrath
Ceist:221 Mr. P. McGrath asked the Minister for Finance the present financial situation of the social insurance fund; the accumulated surplus; and the areas in which these funds are deposited. [18809/03]
Written Answers. - Social Insurance Fund.
As Minister for Finance, I have responsibility for the investment account of the social insurance fund. The Minister for Social and Family Affairs has responsibility for the current account of the fund. By order made under section 28 of the National Treasury Management Agency (Amendment) Act 2002, I have delegated my functions in respect of the investment of the funds to the National Treasury Management Agency.
On 25 June 2003, the market value of the assets in the investment account was approximately €1.383 billion. The assets of the investment account are held in a series of bank deposits with the Central Bank and Financial Services Authority of Ireland and with commercial banks both in Ireland and elsewhere in the euro zone. All deposits are denominated in euro.