Pension funds drop by 15%

IRISH pension funds have lost almost 15% of their value over the last 12 months.

This is according to new figures released by Rubicon investment consulting which said although the average return on pension funds last month was 0.2%, funds are still in the red this year by 7.5% on average.

The May figures continued a trend from the previous month when signs of hope returned to the pension funds market after steadily declining value in the market since the middle of last year.