Germany Investment and Pensions
The Christian Democrat-led grand coalition has reactivated the process to reform a pension system hit by high costs and an ageing population. The process will follow two main paths: on one side reinforcing statutory pensions, which remain the central and most important pillar, and on the other side nudging people towards occupational and private pension savings.
Pension Funds in Germany - Country Report
Germany country report 2025: New government faces choices on pensions reform
The collapse of Germany’s three-party coalition last year left behind a backlog of laws and proposals on pensions. What happens now?
TOP GERMAN PENSION FUNDS 2025
Pension fund/entity | Assets (€’000)
- Bayersiche Versorgungskamer (BVK) | 117,000,000
- VBL | 65,000,000
- BVV | 34,789,396
- Siemens AG | 29,063,000
- Daimler AG | 22,550,000
©IPE Research; View the Top 1000 European Pensions Funds 2025 for a comprehensive market overview
Members demand government rescue as German dentists’ pension fund faces €1.1bn losses
Members of VZB are calling for political intervention and the creation of a special fund to secure dentists’ pensions
BaFin steps in as German pension fund falls short on management
BaFin says VdW Pensionsfonds was understaffed and unable to guarantee that it would fill vacant managing director position within required timeframe
Social partner DC pensions edge forward in Germany despite reform doubts
Germany’s social partner DC pensions expand steadily, offering employees security despite lingering doubts over recent reforms
German plan sponsors opt for staged pension de-risking
Liquidity pressures push German plan sponsors towards staged and hybrid pension de-risking strategies despite economic stagnation
Germany launches €130bn fund to boost innovation and defence
Initial investments will focus on industrial and SMEs, start-ups and scale-ups, and the energy sector, particularly utilities
TOP MANAGERS: GERMAN INSTITUTIONAL ASSETS
Company | Assets (€m)
- MEAG | 284,642*
- Union Investement | 229,910**
- Allianz Global Investors | 175,140
- DWS Group | 157,286
- DekaBank | 155,906***
- Generali | 103,665****
- BayernInvest 91,761
- Amundi | 69,027
- BlackRock | 61,408
- AXA Investment Managers | 60,101*
As at 31.12.24, *30.9.24, **29.11.24, ***30.12.24, ****31.12.23
©IPE Research; Sign up to IPE Profesional to see all the data in the latest country report
Interviews
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German pension funds need to step up in fight to boost economic growth
Germany’s Christian Democratic Union (CDU) and Christian Social Union (CSU) parties, together with the Social Democratic Party (SPD), have now entered negotiations to form a new ‘grand coalition’ government
Members demand government rescue as German dentists’ pension fund faces €1.1bn losses
Members of VZB are calling for political intervention and the creation of a special fund to secure dentists’ pensions
BaFin steps in as German pension fund falls short on management
BaFin says VdW Pensionsfonds was understaffed and unable to guarantee that it would fill vacant managing director position within required timeframe
Social partner DC pensions edge forward in Germany despite reform doubts
Germany’s social partner DC pensions expand steadily, offering employees security despite lingering doubts over recent reforms
German plan sponsors opt for staged pension de-risking
Liquidity pressures push German plan sponsors towards staged and hybrid pension de-risking strategies despite economic stagnation
German buyout market eyes next growth phase as standards take shape
Clearer rules and emerging best practices are expected to unlock the next wave of German pension buyout deals
Germany launches €130bn fund to boost innovation and defence
Initial investments will focus on industrial and SMEs, start-ups and scale-ups, and the energy sector, particularly utilities
IPE DACH Briefing: German pension funds deal with capital collapse
Babcock Pensionskasse was shut down by financial regulator BaFin, while VZB, the pension fund for German dentists, had an estimated €1bn in losses
Lufthansa plans buyout take-off abroad to ease balance sheet turbulence
Airliner plans overseas DB pension buyouts to cut balance sheet risk, with Germany firmly off limits
German doctors’ pension fund makes first foray into crypto
First-pillar fund for physicians commits to €17m through two ETPs following a two-year test
German pension fund shuts down after capital collapse
Financial supervisor BaFin has revoked Babcock Pensionskasse’s licence to conduct business
IPE BEST PENSION FUND IN GERMANY AWARD WINNERS
- 2024 - Bosch Pensionsfonds
- 2023 - Bosch Pensionsfonds
- 2022 - Bosch Pensionsfonds
- 2021 - Bosch Pensionsfonds
- 2020 - Bosch Pensionsfonds
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