Armed Robbery at Irish Pensions Reserve Fund

29 Nov

CCTV of Bank Heist: €17.5 billion Grabbed

Gardaí are investigating an armed robbery which occurred at 6:30 pm on Sunday at the National Pensions Reserve Fund at the Treasury Building, Dublin 2.

Two men armed with what Gardaí believe was a Fianna Fail ‘Recovery Plan’ entered the national pensions reserve and threatened staff and demanded cash. A black Mercedes was used to ram the security doors and a quantity of cash was handed over (estimated to be in the region of €17.5 billion). The raiders then fled the scene.

In a follow up operation Gardaí apprehended one of the suspects and detained him for questioning under section 40 of the Offences against the Sovereign State Act. Sources say that the Dublin West man was tested for liquidity and found to be under-the-influence-of-banks.

The other suspect fled the scene and Gardai have issued a composite sketch and are appealing to the public for information – click here for sketch details.

Captured Ram Raider Shuns Cameras

The Pensions Reserve Fund was established in 2001 to meet as much as possible of the costs of Ireland’s social welfare and public service pensions from 2025 onwards.

Every year 1% of national income was paid into the fund and legislation prohibited any withdrawals until the year 2025. Until this audacious robbery, the vault of the reserve was thought to be impenetrable.

Postscript: Laura Slattery has an excellent obituary to the pensions reserve on her blog – see here.


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