Pension projections, which assumed a continuation of the high growth rates in investment markets of recent years, are unlikely to be achieved, says a leading insurance actuary.

Irish Life assurance actuary Mr Eoghan Burns warned recently that the impact of lower investment returns needed to be brought to public attention. A 2 per cent drop in long-term investment returns could halve the pension a 30 year old would expect at retirement.

A Consumers' Association of Ireland spokesman said projections of all returns should not be based on one assumed return for all investment mediums.