Which funds to choose for my pension?

I'm just about to start paying into a pension what is the differece between Internation equities, Managed funds and Consencus funds? Which should i choose?

International equities deal in non-US stock companies though sometimes subsidiaries of us companies I believe will show up in other countries' exchanges. You will be buying in companies trading on other country exchanges like China, Hong Kong, London Ex, etc. They may be small, mid or large or blended like US but can be much riskier depending on the countries involved.
Managed funds are just that; there is a fund manager who in charge of asset allocation (mix of cash, stocks, bonds being held at any given time and when to buy/sell securities)
Consensus funds attempt to beat the market (I've no experience in these...just a bit of reading) by taking the average of many funds and investing the CFF assets in a mix that mirrors that average for cash, intnl stocks, domestic stocks, bonds, etc.
What should you do? Your choice should be made by you and based on several factors:
1. What is your risk acceptance...generally speaking, the higher the return, the riskier the investment so can you tolerate the chance of losing your assets?
2. How many years to retirement. General theory goes that the longer until you retire, the better able you are to absorb possible risks (losses) and recover from them.
3. Look very carefully at the funds available in your pension plan. Use a fund rating ( www.morningstar.com ) is very good and flexible to use. Whatever you do, determine which are the most costly and what fits your needs.
4. Look very closely at the fees on the funds available. Some are monstrous. Your handout for your plan should give a concise estimate of fees and the percentage of your investment you will pay.
Good luck. Hope this helps a little bit!

International Equities: Stocks from other countries
Managed Fund: Basically a mutual fund, a portion of the profits will be retained by the managers for their 'expertise' in picking the stocks to buy for everyone.
Consensus Fund: you've got me on this one.

I'd probably go with a mix betweeen International and managed(80%) but personally, I like to manage individual equities (stocks) and don't know enough to do that on the international level.