Pension funds dive 20%

PENSION funds got hammered last year with the average fall estimated at almost 20%.

These latest statistics reflect the reality that global stock markets fell by 30% in 2002. Tom Murphy, of Mercer Human Resource Consulting said the size of the fall was “extreme.”

It also came on the back of negative returns in the markets in each of the two previous years in 2000 and 20001 as well.