Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Pension image via Shutterstock
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.

Read: OECD report recommends mandatory pensions for private workers>

Read: Older people in poverty ‘picking between eating and heating’>

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Your Voice
Readers Comments
13
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.