Iceland Investment and Pensions
Two court cases – one likely pending, the other settled – dominate Icelandic pension fund news. In one, the country’s Supreme Court has ruled that pension funds can bake in expected liability increases following the revision of longevity rates. In the other, pension funds are battling the Ministry of Finance over the relationship between social security payments and disability pension payments.
Pension Funds in the Nordic region - Country Report
Nordic Region pension funds report 2025: ATP hits back at critics on risk structure
An academic discussion in a leading business journal has spilled over into a fully fledged debate with the fund’s leadership
TOP ICELANDIC PENSION FUNDS 2025
Pension fund/entity | Assets (€’000)
- Lífeyrissjóður starfsmanna ríkisins | 10,844,672
- Lífeyrissjóður verslunarmanna | 10,089,045
- Gildi lífeyrissjóður | 7,798,458
- Birta lífeyrissjóður | 4,818,311
- Brú Lífeyrissjóður starfsmanna sveitarfélaga | 3,856,585
©IPE Research; View the Top 1000 European Pensions Funds 2025 for a comprehensive market overview
Iceland’s pension fund consolidation has further to go
Fewer pension funds mean more robust entities, but some diversity is good too, says LL chief
Frjálsi, Farmers’ Pension Fund emerge as latest Icelandic pensions fusion
Frjálsi Pension Fund set to boost its AUM to ISK622bn after signing letter of intent to merge with LSB
Frjálsi to merge with LTFÍ after unanimous member vote
In latest Icelandic pension fund merger to be approved by scheme members, fifth-largest provider Frjálsi to add 2% to total assets
Almenni-Lifsverk to become Iceland’s fifth largest pension fund after vote
Brú and Akureyri pension funds receive confirmation of their merger from ministry
IPE Nordic Briefing: Norway’s Council on Ethics comes to a halt
Norway withdraws ethical investment rules for its sovereign wealth fund
TOP MANAGERS: NORDIC REGION INSTITUTIONAL ASSETS
Company | Assets (€m)
- SEB | 65,000*
- BlackRock | 61,541
- DNB Asset Management | 53,712**
- Nordea Asset Management | 52,442
- Storebrand Asset Management | 35,386***
- State Street Global Advisors | 29,768
- Nykredit Asset Management | 26,163
- Northern Trust Asset Management | 22,607
- Morgan Stanley Investment Management | 8,936*
- Amundi | 8,344
As at 30.9.3.23, *30.16.23, **15.11.23, ***10.6.22
©IPE Research; Sign up to IPE Profesional to see all the data in the latest country report
Iceland’s pension fund consolidation has further to go
Fewer pension funds mean more robust entities, but some diversity is good too, says LL chief
Frjálsi, Farmers’ Pension Fund emerge as latest Icelandic pensions fusion
Frjálsi Pension Fund set to boost its AUM to ISK622bn after signing letter of intent to merge with LSB
Frjálsi to merge with LTFÍ after unanimous member vote
In latest Icelandic pension fund merger to be approved by scheme members, fifth-largest provider Frjálsi to add 2% to total assets
Almenni-Lifsverk to become Iceland’s fifth largest pension fund after vote
Brú and Akureyri pension funds receive confirmation of their merger from ministry
IPE Nordic Briefing: Norway’s Council on Ethics comes to a halt
Norway withdraws ethical investment rules for its sovereign wealth fund
Iceland’s LV shifts entire foreign equities portfolio to segregated accounts
Pension Fund of Commerce completes three major investment management exercises - pooled funds to SMAs, new custodian, and SAA
IPE Nordic Briefing: Pension fund consolidation in Iceland
Plus: Proposed changes to the investment rules for Icelandic pension funds; Disagreements over AP Funds’ merger
Iceland’s Brú takes over Akureyri municipal pension fund
Brú Pension Fund will keep LSA scheme separate, according to the terms of the agreement
Almenni, Lífsverk agree merger as Icelandic pension fund consolidation continues
If fusion wins membership and government approval, new merged fund is set to start on 1 January
Norway, Ireland, Denmark climb in 2025 retirement-security ranking
Smaller countries can more easily reach consensus on key issues affecting pensioners, Natixis observes
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