IRELAND – The total assets in Ireland’s Personal Retirement Savings Accounts have grown to €451m – although there is no change in the overall trend on take-up, the Pensions Board says.

The regulator used data from all 10 PRSA providers to the end of December 2005.

It said: “The data shows that 68,257 PRSAs have now been taken out, comprising 53,001 Standard PRSAs and 15,256 non-Standard PRSAs, with a total asset value of €451m.”

As at the end of December, 76,304 employers had signed up with a PRSA provider and that 27,381 employees had taken out PRSAs through their employer.

“The Pensions Board welcomes the additional pension coverage but the figures do not show any change in the overall trend on PRSA take up,” said Pensions Board chief executive Anne Maher.

Meanwhile, Tiarnan O’Mahoney has taken over as chair of the Pensions Board from Michael McNulty.

O’Mahoney, former chief operating officer at Anglo Irish Bank, is the founder and chief executive of International Securities Trading Corp.

Topics