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.
  • Willis Towers Watson

    The world’s 300 largest pension funds (Willis Towers Watson, Sept 2017)

    This comprehensive 47-page paper by Willis Towers Watson provides invaluable insights into the financial state of the largest 300 pension funds in the world. The U.S. continues to hold its position as the country with the largest share of pension assets across the top 300 funds, representing 38.6% spread across 134 funds. Meanwhile, Canada has overtaken the U.K. as the fifth ...

    • Professional
    • Views: 2150
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  • 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: 2019
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  • Focusing Capital on the Long Term

    Long-Term Investing - Portfolio Guide (FCLT, 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: 3231
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  • 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 ...

  • 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 ...

  • Franklin Templeton Investments

    EMEA investors balancing long-term liabilities with market opportunities (Franklin Templeton, 2017)

    How are institutional investors’ strategic objectives being impacted by economic and political factors? In a global environment fraught with risk, to what degree are these investors able to act tactically while maintaining their long-term strategic focus? This report considers these issues in detail with a survey of senior institutional investors throughout the EMEA region.

  • IPE - Investment and Pensions Europe

    Top 1000 European Pension Funds (IPE, Sept 2017)

    IPE's annual study of the top 1000 pension funds records a retirement pool totaling over €7 trn - an increase of 4% from last year. The three large occupational pensions markets – the Netherlands, Switzerland and the UK – account for about half of the assets between them

    IPE's ranking of retirement assets includes a sizeable pool of first-pillar ...

  • 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.

  • 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 ...

  • BNP Paribas Asset Management

    The Nordic Cluster: Leading in Innovation and Growth (BNP Paribas AM, 2017)

    The Nordic region (Sweden, Norway, Denmark, Finland and Iceland) has a collective population of 27 million and all Nordic countries are in the top 20 globally, measured on GDP per capita. The Nordic regionis strong and economically stable. Its nations are competitive and acknowledged for entrepreneurship, innovation and high mobile and broadband penetration. There are major local ...

  • European Pension Savings: The Real Return (Better Finance, 2016)

    Investment and private pension products are persistently the worst performing retail services markets of all throughout the European Union according to the European Commission’s consumer markets scorecards. The Commission also points out that “other reasons for not saving long-term are the often poor performance of financial intermediaries to deliver reasonable return ...

  • 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 ...