IAPF welcomes pensions move

The Irish Association of Pension Funds has welcomed the proposals in the Finance Bill to establish stability funds for State pensions.

IAPF chairman Mr Tom Finlay said the "decision will stand the test of time". He added that the management and operation of these funds, which are to meet the State's very long-term pension liabilities, must be on a commercial basis if they are to be able to achieve long-term realistic returns.