'Serious losses' for pensions in 2008

The Pensions Board has said "serious losses" were sustained by Irish pension schemes last year and that "the experience of 2008 was worse than it could, or should, have been".

At the launch of the Pensions Board Annual Report today by Social and Family Affairs Minister Mary Hanafin, the Board emphasised the serious losses sustained by both defined benefit and defined contribution schemes in 2008.