Pension funds have been badly hit this year with the average funds falling more than 20 per cent, according to new figures from the consultants Mercer.
On average Irish pension funds lost just over 12 per cent in the third quarter of the year in the face of ongoing uncertainty on global markets.
The picture for the whole year is even bleaker with the average fund having fallen more than 20 per cent since the beginning of the year.
If this year's trend is borne out in the final quarter it will be the third consecutive year of negative equity market returns.
