Pension funds see marked upturn since March

THE financial position of Irish pension schemes has improved by between €8 billion and €10bn over the last two months, a pensions expert has claimed.

Noel Collins, a senior investment consultant with Mercer said the improvement was due to a combination of rising stock markets and favourable movements in the discount rates used to value pension liabilities.

“In total, the funding position of pension schemes is likely to have improved by between €8bn-€10bn since the middle of March,” he said.