Spain & Portugal: Pensions and Investment News and Analysis
A new, simplified pension vehicle (PPES) is gaining traction but a publicly-promoted counterpart scheme (FPEPP) has no participants or savings as yet, and five members have resigned from its control commission. Spain’s fiscal responsibility monitoring body AIReF has warned that recent reforms have not improved first pillar sustainability. A shrinking workforce and low fertility rates threaten future GDP growth and the ability of the government to support pensions.
With one of the highest rates of population ageing in the EU, pensions reform should arguably be a higher priority that it currently is in Portugal. Over a third of the working population is over 50, up from a quarter in 2011. The current government of Luis Montenegro and his centre-right Democratic Alliance has vowed to increase pensions
Pension Funds in Spain & Portugal - Country Report
Spanish country report 2024: Pension funds eye a new rate environment
Buoyed by strong returns, pension funds have been lengthening the duration in their fixed-income portfolios
TOP SPANISH & PORTUGUESE PENSION FUNDS 2024
Pension fund/entity | Assets (€’000)
Spain
- Pensions Caixa 30 | 8,279,672
- PSE Grupo Endesa | 3,054,994
- Empleados Telefònica de España | 2,916,006
Portugal
- FEFSS | 26,700,000
- Grupo Banco Comercial Português | 3,649,600
- BPI Vida e Pensões | 3,257,000
©IPE Research; View the Top 1000 European Pensions Funds 2024 for a comprehensive market overview
Spanish pension funds mirror global market falls with 8.8% loss for 2022
Alternative, especially private markets, continue to grow in importance
Spanish insurer MAPFRE adds SRI approach to all asset managers’ strategies
“The idea is to grow distribution capacity in France and to increase our SRI capabilities,” says MAPFRE’s chief economist for investments
Contributions lowest in Sweden, Finland, but highest in Italy, Denmark, study finds
Finnish Centre for Pensions compares totality of contributions in eight European countries
Portuguese pension funds return 6.3% for 2024, despite low bond returns
Global equities made strong returns in Q4, but not enough to compensate for the low returns from bonds, says WTW
Spanish pension funds mirror global market surges with 2.3% return to June 2023
Asset allocation figures show that fixed income still dominates portfolios, although in declining proportions, with an average 55.3% allocation at end-June
Portuguese pension funds return 1.6% for Q2 2023
Global equities had the highest impact on performance over the quarter, with returns close to 6%, according to WTW
Spain: Pension policy in paralysis
Spain is nowhere near on track to enrol 13m of its citizens in occupational pensions over the next five years
Portuguese pension funds return 6.3% for 2024, despite low bond returns
Global equities made strong returns in Q4, but not enough to compensate for the low returns from bonds, says WTW
Spanish country report 2024: Pension funds eye a new rate environment
Buoyed by strong returns, pension funds have been lengthening the duration in their fixed-income portfolios
Private equity remains a key building block for pension schemes
While allocations vary, pension funds value solid returns and private equity’s role as a diversifier. Funds use PE to gain both domestic and international exposure.
Pension funds on euro fixed income: navigating the rate cycle
We asked pension funds in Spain, Germany and Finland about their current views on European fixed income and credit as the ECB looks carefully at the timing and sequence of its rate cuts
Portugal: Sticking to the pension promise
The country’s new government has vowed to increase retirement payments
Spain: Sweeping pension reforms fail to get off the ground
The country’s unstable political environment means pensions are not a priority
Spanish pensions report 2023: funds ride a wave of uncertainty
Diversification remains a key tool in pension fund portfolios
Spanish pension funds mirror global market surges with 2.3% return to June 2023
Asset allocation figures show that fixed income still dominates portfolios, although in declining proportions, with an average 55.3% allocation at end-June
Portuguese pension funds return 1.6% for Q2 2023
Global equities had the highest impact on performance over the quarter, with returns close to 6%, according to WTW
IPE BEST PENSION FUND IN SPAIN AWARD WINNERS
- 2023 - GM Pensiones | Pensions Caixa 30
- 2022 - GM Pensiones
- 2021 - GM Pensiones
- 2020 - Plan de Pensiones Nestlé
- 2019 - Plan de Pensiones Nestlé
IPE BEST PENSION FUND IN PORTUGAL AWARD WINNERS
- 2023 - FP Banco Santander Totta
- 2022 - FP Banco Santander Totta
- 2021 - Ageas Pensões | Fundo Pensões Banco Santander Totta
- 2020 - Ageas Pensões
- 2019 - Ocidental Pensões
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