UK pension funds have successfully weathered this year's stock market turmoil, according to the WM company.
Strong performance in the first quarter compensated for dramatic falls in the last quarter of minus 10 per cent. Pensions funds are on average up 1 per cent on the year.
WM executive director Alexa Henderson says: "Stormy markets have made a lot of investors very nervous this year. While equities showed negative returns up to the end of September, funds were cushioned by their investments in other areas such as fixed interest and property."
The latest WM Company figures show that overseas equity was hit hardest in the third quarter registering an overall negative return of 16 per cent.