Support for RETURNING xxx INTO yyy for INSERT and UPDATE?

Does anyone know if Postgres supports some form of:

insert into mytable(column1,column2)
values ('a','b')
returning mytable_pk into :new_mytable_pk

Where 'mytable_pk' is defaulted to type of SERIAL?

I am really used to having this on Oracle, but can't
seem to find anything about it in the documentation or
searching around the mailing lists.

If not, what methods can I use to reliable and
efficiently return new primary keys from inserts? I
am thinking I could use a function, but then I would
need to create one for each table in the database,
which seems really messy to me.

Sorry if this question has been answered somewhere
else. I figure it must have been, since this seems
like such a basic thing to me, but I just can't find
it :)

--john

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