Research

Global Pension Assets Study 2017

January 30, 2017

The 2017 Global Pension Assets Study covers 22 major pension markets (the P22), which total USD 36,435 billion in pension assets and account for 62.0% of the GDP of these economies. China, Finland and Italy were added to this year’s study. A deeper analysis was performed for seven of these markets (Australia, Canada, Japan, Netherlands, Switzerland, UK and US) , which comprise 91.7% of total assets (the P7).

Global institutional pension fund assets
Largest pension markets

Key results include:

CAGR 2005-2015
  • Global institutional pension fund assets in 22 major markets grew to $36.4 trillion at year end 2016, representing an increase of 4.3% in the 12-month period. Total pension assets in these countries amount to 62% of their GDP.
  • Pension fund assets have grown at 3.8% on average per annum (in USD) over the past five years, with the growth rate highest in China (20.3%), where the study covers the Enterprise Annuities market, and lowest in Japan (-5.4%).
  • Growth in defined contribution (DC) assets continued to outstrip that of defined benefit (DB) assets, with DC assets now accounting for over 48% of global pensions assets, compared with around 41% in 2006. DC assets have grown at a rate of 5.6% over the past decade, compared with 2.6% for DB assets.

The analysis is organised in three sections:

  • Asset size, including growth statistics and comparison of asset size with GDP (P22)
  • Asset allocation (P7)
  • DB and DC share of pension assets (P7).

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