Third-level pension fund plan mooted

Ireland“The Government could transfer the pension fund assets of universities and third-level colleges to the exchequer tomorrow in a bid to close the overall deficit and regain the confidence of the financial markets, according to Ulster Bank economist Pat McArdle. Reclassifying the third-level pension funds, which had been touted as an option for the Government last autumn, could add 1 to 1.5 per cent to Gross Domestic Product (GDP), Mr McArdle said. ‘The department has had six months to prepare and this could be the rabbit in the hat in Tuesday’s budget,’ he said …” (more)

[Laura Slattery, Irish Times, 6 April]

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