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Pension fund returns surge

Pensions - Average returns of 11.8%
Pensions - Average returns of 11.8%

The third quarter of 2009 was the best quarter for Irish pension funds since 1999, with funds seeing average returns of 11.8%.

The latest figures from consultants Rubicon show that for the seventh month in a row, pension funds delivered a positive performance in September, with a 2.6% average return.

The best performing fund last month was Irish Life Investment Managers, which saw growth of 3.1%.

Friends First saw the weakest growth in the month at 2.1%.