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Pension returns trail inflation rate for the second year
Pension schemes made a weighted average return of 1.4 percent in 2023, which was lower than the 1.7 percent return recorded in 2022. PHOTO | SHUTTERSTOCK
Pension contributors are staring at a major erosion of their savings after annual returns on investments in 2023 by pension funds shrunk below the rate of inflation.
A periodic pension industry survey done by fund administrator Zamara shows that pension schemes made a weighted average return of 1.4 percent in 2023, which was lower than the 1.7 percent return recorded in 2022.
