Survey: Pension funds grew 14%

DESPITE growth of almost 14% to €72 billion last year, Irish pension funds are still 16% below their 2007 peak of close to €87bn.

A survey from the Irish Association of Pension Funds also found that for the first time since 2006, the proportion of assets in defined benefit (DB) schemes increased to 67% from 62%.

Director of policy at the IAPF Jerry Moriarty said, however, this did not reflect a resurgence in DB schemes but more likely reflected a fall in defined contribution payments, combined with additional cash injections to fund DB deficits.