Pensions in Germany Report
In-depth reporting and analysis of the pensions sector in Germany for our pension fund and asset management readers from IPE’s award-winning journalists.
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Country ReportPensions in Germany report 2026: Berlin embarks on DC push
Legislative changes and the reform of private pensions remain hurdles to developing a sound retirement system
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Country ReportVZB: Anatomy of a scandal
Versorgungswerk der Zahnärztekammer Berlin has faced accusations of mismanagement as the pension fund disclosed losses of €1.1bn
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Country ReportSiemens Fonds Invest: A holistic approach to pension management
“We have the goal to scale everything we do” - Heiko Fischer and Erik Macharzina. Interview by Luigi Serenelli
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Country ReportGermany’s pension buyout market set to expand
Companies are looking to remove unwanted liabilities from their balance sheets
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Country ReportGermany’s fragmented pensions landscape heads towards consolidation
Berlin’s attempt to push mergers between pension funds has run into resistance from unions and members
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Country ReportPension funds line up to fix the Germany's crumbling infrastructure
Investors are ready to commit capital to rebuild Germany’s economy. But the government must first issue much-needed clarity about its long-term plans
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Country ReportSpezialfonds investors sit tight
Investors have become hardened to the many doomsday scenarios and remain undeterred in the face of political upheaval, as shown by an analysis of Spezialfonds holdings
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Country ReportGermany 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?
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Country ReportCan pension funds help German economy get back on its feet through investment in growth start-ups?
WIN, a government-sponsored initiative to boost investment in growth start-ups, has received widespread but not wholesale backing
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Country ReportA long-term view on German institutional investment
A 10-year Spezialfonds analysis of German institutional funds highlights how significantly the institutional investment landscape has evolved
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NewsEthos and DSW push DAX firms to scrap virtual AGMs
Ethos has teamed up with its German partner DSW, Shareholders for Change and Better Finance to bring back in-person shareholder meetings
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NewsBroaden DC scheme access to SMEs, say German employers
Industry employers’ body calls for broadest possible access to DC plans, including to SMEs that do not yet offer occupational pensions
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NewsGerman pension dashboard developers discuss next steps after portal development ‘achievement’
The portal had been in development for almost 20 years
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Country ReportGermany Country Report 2024: Unions take a more active role in pensions
Unions have a new role in determining the shape of occupational pensions but are mindful of their duty to protect workers
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Country ReportGermany turns its back on sustainability
A recent rightwards pivot has softened Germany’s ambition on ESG both at home and in Brussels
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Country Report
Germany’s pension buyout market shows signs of life
Companies are increasingly looking to offload their pension liabilities
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Country ReportCommentary: Pension funding options for German employers
Pension schemes have a choice of ways in which they can exercise their funding obligations
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Country ReportGerman pension reforms remain controversial
The governing coalition is running out of time to overhaul the three-pillar retirement system
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Country Report
German employers use pensions to tackle skills shortage
German companies are reworking HR policies in a changing labour market as they hunt for skilled workers and seek to retain experienced employees
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Country ReportCountry 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.
