The members of the National Pensions Reserve Fund Commission are appointed by the Minister for Finance. Under the National Pensions Reserve Fund Act, the Minister may only appoint people with substantial expertise and experience at a senior level in a number of specified areas as follows:
- investment or international business management,
- finance or economics,
- the law,
- actuarial practice,
- accountancy and auditing,
- the Civil Service,
- trade union representation,
- the pensions industry,
- consumer protection.
The Commission controls and manages the Fund with discretionary authority to determine and implement the Fund's investment strategy.
The members of the Commission are:
- Mr. Paul Carty - Chairperson
Financial Consultant, and former Managing Partner, Deloitte & Touche, Ireland.
- Dr. Brian Hillery
Chairman Providence Resources plc and Former Director of the Central Bank and Financial Services Authority of Ireland.
- Mr. Maurice Keane
Company Director (including, Irish Bank Resolution Corporation Limited), and Retired Group Chief Executive of Bank of Ireland.
- Mr. Knut N. Kjaer
Chairman of FSN Capital, Former President Risk Metrics Group and Former Chief Executive of Norges Bank Investment Management.
- Prof. Frances Ruane
Director of the Economic and Social Research Institute (ESRI).
- Mr. John Corrigan
Chief Executive, National Treasury Management Agency (ex-officio member).
Codes of Conduct
A code of business conduct is in place for Commission members. The code underscores the Committee’s commitment to the highest standards of conduct. While it is not possible for a set of rules or guidelines to provide for all situations that may arise, Commission members are expected to ensure that all their activities are governed by the ethical standards reflected in the code.