Pension fund losses lead to workers deferring retirement

ALMOST €8 billion has been wiped off the value of Irish pension funds so far this year, prompting workers to consider holding off on retirement.

The Irish Association of Pension Funds (IAPF) said in addition to this drop, the value of Irish funds fell by fall in five years.

Pension scheme assets dropped to €86.6bn last year from €87.7bn at the end of 2006.