Country Reports

In-depth regular coverage and asset manager surveys on European countries and regions

Latest Country Report

Amsterdam netherlands

Country report: Netherlands

September 2021 (Magazine)

Dutch pension funds are hesitant to exclude companies or entire sectors from their investments universe and instead prefer to take the route of engagement, as we find out in our latest in-depth report on Dutch pensions. The report also covers how experiences from other countries can help illuminate the current Dutch pension reform, and analyses why the traditionally sleepy market for pension administration is undergoing unprecedented upheaval.

  • Oslo, Norway

    Regional report: Nordics

    June 2021 (Magazine)

    Two years have passed since AP Pension became the first of Denmark’s main commercial pension providers to launch a pension product labelled as sustainable. Since then, other players have followed suit, launching new ‘sustainable’ pension products in response to demand from customers. In this report, we also look at other developments  across the Nordic region, including the strong investment returns of Sweden’s AP6 and how Norway’s municipal pension market is opening up to competition.

  • City of London

    Country report UK

    May 2021 (Magazine)

    The UK’s Pension Schemes Act was finally signed in February 2021, after nearly two years of negotiations in parliament that were severely disrupted by elections, Brexit-related negotiations and the COVID-19 pandemic. The new rules have given the Pensions Regulator (TPR) new powers that could see it intervene in corporate actions such as mergers and acquisitions, as we analyse in this report. The report also looks at other key topics impacting the UK pensions sector, including DB funding, climate change, risk management and pension dashboards.

  • Country report - Germany

    Country report: Germany

    April 2021 (Magazine)

    Social partner pensions are just one of the new defined contribution (DC) pension arrangements which have emerged in Germany in the past three year and more more could follow, as we analyse in this report. Will this bring a boost to the country’s neglected second pillar? We also look at pension risk management and find how investors are evolving to adapt to new realities in terms of assets and liabilities, and assess why German politicians are looking abroad for ways to boost exposure to equities in long-term savings.

  • Amsterdam canal houses, Netherlands

    Country report: Netherlands 2021

    March 2021 (Magazine)

    After decades of intense debate surrounding pension reform, a ‘historic’ deal was reached last year between the social partners and the government about the direction of the new Dutch pension system. The move from defined benefit (DB) to defined contribution (DC) under the new pension contract is having an impact on the sector as a whole. In this report, we explore some of the key issues facing the industry including funding pressures, assessing members’ risk appetite, the future of fiduciary management, and the surge in alternative strategies

  • Ireland

    Country report: Ireland 2021

    February 2021 (Magazine)

    In 2018, the Irish government published its “Roadmap for Pensions Reform”, which set out plans for a national auto-enrolment system to be implemented for 2022. The implementation of changes has been dogged by delays, with COVID-19 joining the long list of obstacles slowing the country’s pension reform, as we analyse in this report. We also look at how volatile financial markets have impacted funding levels of defined benefit (DB) pension schemes, and explore the potential of the new regulated investment limited partnerships for institutional investors in private assets.

  • Szymon Ożóg

    CEE - Poland: Auto-enrolment limps to the finishing line

    January 2021 (Magazine)

     Lack of trust underpins poor take-up of new plans 

  • Female staff members at ATP

    Denmark's ATP: Accelerating diversity

    December 2020 (Magazine)

    ATP has written its own manual to boost diversity among its senior workforce 

  • MartinElingpic

    Switzerland: The road to digital pensions

    November 2020 (Magazine)

    From letters still sent by pension funds, to apps and portals, the road to digitise the Swiss pension system looks long but promising

  • Estelle Castres

    France: U-turn for FRR

    October (2020) Magazine

    COVID-19 has put paid to the FRR pension reserve fund’s planned transition to a new status and investment model

  • Netherlands

    Netherlands: New paths

    September 2020 (Magazine)

    The new Dutch pension agreement could unleash a new wave of thinking around risk taking and portfolio construction, with strong similarities to the way some Nordic schemes are run

  • Paolo Stefan

    Italy: Ready for the challenge

    July/August 2020 (Magazine)

    Italy’s occupational pension funds are primed to deal with the after-effects of the COVID-19 pandemic

  • Thorey Thordardottir

    Nordic Region: Pension funds step up to the plate

    June 2020 (Magazine)

    Nordic pension funds have been quick to offer support to local ecomomies affected by the coronaviris crisis

  • David Fairs

    UK country report: Regulator plans twin-track funding code

    May 2020 (Magazine)

    Consultation continues to prepare DB schemes to be less reliant on sponsors as the sector matures

  • Heribert Karch 1

    Germany & Austria: Do social partners pensions have a future?

    April 2020 (Magazine)

    The implementation of social partner pensions between employer and trade unions has yet to take off

  • Netherlands

    Netherlands: Still searching for yields

    March 2020 (Magazine)

    Dutch pension funds are looking towards illiquid assets as they search for returns in the challenging low-interest-rate environment 

  • The High Court in Dublin

    Ireland's pensions: All set for big changes

    February 2020 (Magazine)

    2020 will have to be a busy year if the Irish government is to meet its ambitious targets

  • Małgorzata Rusewicz

    Poland: Auto-enrolment off to a slow start

    January 2020 (Magazine)

    Disappointing take-up in first phase of auto-enrolment pension plan

  • nordic region index

    Denmark: Fresh blood replaces the obsolete

    December 2019 (Magazine)

    Consolidation has reduced consumer choice within the commercial pensions sector, but it has encouraged two labour market funds to fill the void

  • spanish pension funds asset allocation

    Spain: The tide turns

    November 2019 (Magazine)

    Investors hope that this month’s general election brings much needed stability to a faltering economy 

  • estelle castres

    France: PACTE changes the landscape

    October 2019 (Magazine)

    The new PACTE law will transform pension saving in France

  • claire jones

    UK: ESG moves up the trustee agenda

    September 2019 (Magazine)

    UK pension scheme trustees now bear the responsibility to weigh ESG and climate change risks more explicitly

All Country Reports