Germany: Pensions and Investment News and Analysis

Latest news and analysis of pensions, asset management, regulation and trends in Germany from our award-winning journalists.

Pension Funds in Germany - Country Report

Frankfurt, Germany

Country Report – Pensions in Germany (March 2023)

Angela Merkel’s governments largely dodged the political hot potato of first-pillar pension reform, which means the current overhaul to the state system is overdue. But it barely gets to grips with the issues. For one, it does not deal with entitlements or increase the retirement age; second it introduces a funded component that will probably only take effect in the 2030s, when the post-war demographic peak is passing. 

TOP GERMAN PENSION FUNDS 2023

Pension fund/entity | Assets (€’000)

  1. Bayerische Versongungskammer (BVK) | 106,800,000
  2. BVV | 33,586,973
  3. VBL | 30,210,900
  4. Siemans AG | 26,524,000
  5. Daimler AG | 20,526,000

©IPE Research;  See IPE’s Top 1000 Pension Funds for the full ranking

 

Key fund data for Germany

Germany key pension data

Sources: Pension assets - IPE research; Occupational pension assets as % of GDP - OECD June 2022; Working population, data as of end 2021 - World Bank; Projected old-age dependency ratio 2050 per 100 people - Eurostat 2021; Gross average replacement rate - OECD Pensions at a Glance, 2021; Asset Allocation - OECD Pension Funds in Fugures, June 2022

TOP MANAGERS: GERMAN INSTITUTIONAL ASSETS

Company | Assets (€m) 

  1. MEAG | 255,457*
  2. Union Investement  | 204,708**
  3. Allianz Global Investors | 161,152*
  4. DekaBank | 159,148***
  5. DWS | 145,326
  6. BayernInvest | 94,758
  7. Helaba Invest 86,010
  8. Generali Investments | 84,436
  9. LBBW Asset Management | 71,518**
  10. AXA Investment Managers | 57,898*

As at 31.12.22, *30.9.22, **30.11.22, ***30.12.22

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IPE European Pension Fund Awards

 

IPE BEST PENSION FUND IN GERMANY AWARD WINNERS

  • 2023 - Bosch Pensionsfonds
  • 2022 - Bosch Pensionsfonds
  • 2021 - Bosch Pensionsfonds
  • 2020 - Bosch Pensionsfonds
  • 2019 - Ärzteversorgung Westfalen-Lippe | Telekom Pension Fund

Find out more about the IPE awards and how to be involved