IRELAND - Paul Carty has been appointed chairperson of the National Pensions Reserve Fund (NPRF) Commission in succession to the late Donal Geaney.
The appointment is for a 5-year term and was announced by the finance minister Brian Cowen.
Carty is a chartered accountant who was formerly managing partner of Deloitte and Touche Chartered Accountants and is currently a financial consultant.
Carty was appointed an ordinary member of the National Pensions Reserve Fund Commission in August 2005. He was a member of the National Treasury Management Agency Advisory Committee from its inception until 2005.
The National Pensions Reserve Fund Commission is independent of Government and controls and manages the National Pensions Reserve Fund which was set up to meet as much as possible of the costs of social welfare and public service pensions from 2025 until at least 2055.
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.