European Pension Funds

European Pension Funds - Articles & White Papers

Academic papers and professional research relating to pension funds in Europe. The most frequently viewed white papers on European Pension Funds cover Dutch pensions, Nordic pensions, German pensions and Irish pensions, amongst others. Articles and reports covering long-term investing by pension funds are also becoming increasingly popular. Other papers and surveys examine current multinational pension issues, pension fund governance, long-term investing and hybrid pension schemes. The Towers Watson "Global Pensions Asset Study" (an in-depth comparison of global pension schemes) has been frequently downloaded. Case studies and lessons learned from European pension funds - such as PFZW and PGGM of Netherlands, AP Fonden of Sweden, PKA and ATP of Denmark - have also generated a lot of interest. To search for research relating to specific countries or funds, please use the main search bar at the top of the page.
  • Citi

    The Coming Pensions Crisis (Citi, 2016)

    • 09 Mar 2016
    • Company: Citi

    The retirement dream for many is to retire early enough to enjoy the fruits of their labours. The reality however is that for many there isn't enough money in the bank to last the entirety of their retirement. This paper by Citi looks at the scope of the problem both on the private and the public side. The author examines the issue globally then makes some recommendations ...

    • Professional
    • Views: 1938
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  • Focusing Capital on the Long Term

    Long-Term Investing - Portfolio Guide (2015)

    This 60-page report investigates a variety of approaches that may be taken by institutional investors in order to find new long-term investment strategies. Examining the five key action areas (risk appetite statements, investment mandates, benchmarking processes, evaluations and incentives, and investment benefits), this paper's authors develop a framework for the improvement ...

    • Professional
    • Views: 3023
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  • Willis Towers Watson

    Global Pensions Asset Study 2017 (Willis Towers Watson)

    The 2017 Global Pensions Asset Study covers 22 major pension markets, 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 ...

  • Norges Bank - Government Pension Fund

    Responsible Investment Report (Norges Bank IM, 2016)

    This detailed paper provides insights into how NBIM operates in the area of responsible investing. It explains the purposes behind NBIM's responsible investing philosophy and the main pillars of its process. The paper covers the standards set, the research undertaken, and the approach taken to company engagement and voting. Finally, it describes NBIM's ...

  • Invesco (Europe)

    Sizing up Europe's corporate pension gap (Invesco, 2017)

    The well documented decline in corporate bond yields driven by central bank monetary stimulus has led to a substantial rise in reported deficits among corporate Europe’s defined benefit pension schemes. In the UK alone, pension deficits of FTSE 350 companies nearly doubled over the first half of 2016.

    The pension funding gap is a regional problem, but is more acute for ...

  • Governance Practices of European Pensions: The gap between rhetoric and reality (The 300 Club, 2016)

    Significant changes have taken place in European pension fund business models since the global financial crisis. A more serious and fundamental shift in behaviour is however needed to address the vast gap between talk about good governance and the reality on the ground. This paper has been authored by Sally Bridgeland and Professor Amin Rajan.

  • DC Pension Design & Investment Europe 2016

    With the DC sector undergoing the biggest transformation since the announcement of Auto Enrollment, plan managers, trustees and pension sponsor representatives are faced with key decisions around the choice of investment solutions, platform design and member communication strategies.

    This 7th annual DC Pension Design & Investment ...

  • Willis Towers Watson

    Global Pension Assets Study 2016 (Willis Towers Watson)

    The 2016 GPAS (Global Pensions Asset Study) adds Chile, India and Spain to its study of the 19 largest pension markets in the world, (other countries being: Australia, Brazil, Canada, France, Germany, Hong Kong, Ireland, Japan, Malaysia, Mexico, Netherlands, South Africa, South Korea, Switzerland, the UK and the US). The 2016 GPAS study analyzes asset size (comparison with GDP and ...

  • How Effective Is Pension Fund Governance? Do Pension Funds Invest For The Long-Term? (2015)

    This study is part of a collection of pension fund governance research projects looking back over a period of 20 years. One of the motivations for this project was the FCLT ("Focusing Capital on the Long Term") initiative launched by McKinsey's Dominic Barton and the CPP's Mark Wiseman. In an article for the HBR, they said asset owners and asset managers needed to ...

  • Broken Promises: The Coming Global Pension Crisis (RWC, July 2017)

    In this edition of our quarterly letter Ian Lance looks at one of today's largest and yet least discussed issues: the extent to which different types of pensions across the globe are underfunded. After identifying the factors that led to this situation, he examines the potential implications of trying to deal with the shortfall and concludes they could have a very deflationary ...

  • PGGM interview: using impact investing and Sustainable Development Goals as a framework for institutional investors

    We’ve been talking to Marcel Jeucken, Managing Director of Responsible Investment at PGGM Investments about ‘Responsible investment 3.0 - Using impact investing and Sustainable Development Goals as a framework for institutional investors’.

    You can read his full interview to find out about large numbers of ESG investments that have developed sufficient ...

  • Robeco

    Conservative investing in a solvency framework (Robeco, 2017)

    Conservative investing in a solvency framework

    Are conservative credit and equity strategies attractive under solvency regulations? Conservative credits require less solvency capital than credits with average or high risk, which makes them attractive. Conservative equities, however, require the same solvency capital as equities with average or high risk. Investors therefore ...

  • Average life expectancy set to increase by 2030 (Imperial College London, 2017)

    Average life expectancy is set to increase in many countries by 2030 – and will exceed 90 years in South Korea, according to new research. The study, led by scientists from Imperial College London in collaboration with the World Health Organization, analysed long-term data on mortality and longevity trends to predict how life expectancy will change in 35 industrialised countries ...

  • De Nederlandsche Bank

    Pension funds' herding (De Nederlandsche Bank, 2016)

    This paper uses unique and detailed transaction data to analyse herding behavior among pension funds. The authors distinguish between weak, semi strong and strong herding behaviour. Weak herding occurs if pension funds have similar rebalancing strategies. Semi strong herding arises when pension funds react similarly to other external shocks, such as changes in regulation and ...