Domestic pension funds fall 20% in Q3

THE fall in global asset values have wiped billions off the value of Irish pensions this year.

Hewitt Associates 2008 pooled pension fund survey of pooled funds available to pension and AVC investors in the Irish market shows they are down 20% for the third quarter.

“2008 is proving a very difficult year for pension investors with managed fund returns down over 20% in 2008. The Irish equity market was the biggest loser to the end of September with all funds in the survey down more than 40%.