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Pensions
Pension fund values see growth of 11 per cent
The growth comes despite the government levy on savings which took almost €500 million last year.
THE VALUE OF Irish private pension funds grew 11 per cent in 2012 to €80.5 billion, according to a survey by the Irish Association of Pension Funds (IAPF).
The growth comes despite the government levy on savings which took almost €500 million last year.
Results of the survey also showed that 63 per cent of total assets are managed on behalf of defined benefit schemes while 37 per cent are managed on behalf of defined contribution schemes.
THE IAPF said that strong performance across international equity and fixed income markets drove much of the improvement in fund values.
Equities comprised 47 per cent of total defined benefit scheme assets last year, compared to 52 per cent in 2011.
The survey also found that the allocation of long-dated bonds continues to grow, reaching 69 per cent in 2012 versus 58 per cent in 2011.
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