IRELAND - The FAS Training and Employment Authority Pension Scheme is awaiting recommendations from the Department of Finance before implementing a new investment strategy, according to MandateWire.
Brendan Byrne, secretary to the fund, told MandateWire: "The Department of Finance has to make a plan on how we will go, and until that happens we won't be able to take it any further."
The options include leaving the strategy as it is, going to specialist routes, or moving members to a pay-as-you-go basis like the rest of the public sector, according to Byrne.
Byrne said: "We are a non-commercial service state, so we don't generate money. We're just a spender of government funds, that's the reason why they're trying to figure out what they would like to do with the fund.
"I'll be keeping all the options open, because when the time comes I will need to be able to then advise what we want to do."
This week's edition of Professional Pensions is out now.
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