Germany: Pensions and Investment News and Analysis
There has been much talk and little progress in German occupational pensions in recent years – certainly when it comes to DC-style ‘social partner pensions’, introduced in 2018, where takeup has been minimal. Now the government is looking reform the law to make them more attractive. A state buffer fund has been under discussion for several years – this could amass assets of €200bn. The current finance minister, Christian Lindner, is now also looking to boost third-pillar savings. With federal elections in September 2025, time is looking tight.
Pension Funds in Germany - Country Report
Germany 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
TOP GERMAN PENSION FUNDS 2024
Pension fund/entity | Assets (€’000)
- Bayersiche Versorgungskamer (BVK) | 111,900,000
- VBL | 59,300,000
- BVV | 34,158,074
- Siemens AG | 26,055,000
- Daimler AG | 21,890,000
©IPE Research; View the Top 1000 European Pensions Funds 2024 for a comprehensive market overview
German insurance association backs Commission’s plan for ESG omnibus package
‘We need sustainability reporting that focuses less on quantity and more on the quality of the information,’ says Jörg Asmussen, GDV’s chief
BarmeniaGothaer AM ditches third-party managers for corporate bonds
‘The new team we will be able to manage certain types of investments such as corporate bonds in the future,’ says co-CEO
Germany’s AfD proposes employment pension account for capital market investments
Capital flowing to the employment pension account would be invested in capital markets through ETFs, funds and stocks, according to proposal
DAX-listed firms’ pension schemes see funding ratios reach new record of 83%
Pension assets of DAX companies increased last year by €6bn year-on-year to €264bn, while pension liabilities fell to €320bn last year, from €324bn in 2023
German liberal party pushes programme for pension investments in equities
FDP is campaigning for a “real statutory equity pension” based on the Swedish premium pension model
TOP MANAGERS: GERMAN INSTITUTIONAL ASSETS
Company | Assets (€m)
- MEAG | 261,068
- Union Investement | 211,291**
- Allianz Global Investors | 163,831***
- DWS | 162,690***
- DekaBank | 146,760*
- Generali Asset Management | 103,665***
- BayernInvest 91,462***
- LBBW Asset Management | 71,518**
- AXA Investment Managers | 65,951
- Amundi | 59,951
As at 30.9.23, *29.10.23, **30.11.23, ***31.12.23
©IPE Research; Sign up to IPE Profesional to see all the data in the latest country report
IPE BEST PENSION FUND IN GERMANY AWARD WINNERS
- 2023 - Bosch Pensionsfonds
- 2022 - Bosch Pensionsfonds
- 2021 - Bosch Pensionsfonds
- 2020 - Bosch Pensionsfonds
- 2019 - Ärzteversorgung Westfalen-Lippe | Telekom Pension Fund
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German pension reforms in limbo after coalition government collapse
The collapse of Germany’s three-way ‘traffic light’ coalition in November opens questions about the fate of the pension reforms it had drafted over the past couple of years. The government, led by Olaf Scholz, started in 2021 with a mission to reinforce the capital-funded component of the pension system.
German insurance association backs Commission’s plan for ESG omnibus package
‘We need sustainability reporting that focuses less on quantity and more on the quality of the information,’ says Jörg Asmussen, GDV’s chief
BarmeniaGothaer AM ditches third-party managers for corporate bonds
‘The new team we will be able to manage certain types of investments such as corporate bonds in the future,’ says co-CEO
Germany’s AfD proposes employment pension account for capital market investments
Capital flowing to the employment pension account would be invested in capital markets through ETFs, funds and stocks, according to proposal
DAX-listed firms’ pension schemes see funding ratios reach new record of 83%
Pension assets of DAX companies increased last year by €6bn year-on-year to €264bn, while pension liabilities fell to €320bn last year, from €324bn in 2023
IPE DACH Briefing: Germany’s reform zeal to enter unchartered waters
Plus: SPRIN-D calls to deploy capital-funded pensions to support research and development projects; SPD wants to strengthen occupational pensions
German liberal party pushes programme for pension investments in equities
FDP is campaigning for a “real statutory equity pension” based on the Swedish premium pension model
Using investment profits to finance social security can impact private pensions
BVI CEO Thomas Richter has labelled the plan of chancellor candidate for the Green Party, Robert Habeck, as a ‘populist foolish idea’
WPV asset management reshuffles team as it shifts to thematic focus
German pension fund for auditors and chartered accountants manages around €5bn for approximately 17,000 members and beneficiaries
German economists push for review of civil servants pension system
By splitting first and second-pillar pensions for civil servants, new contributions remain available to finance old pensions, says Martin Werding
German insurers create €50bn asset management company
The transfer of assets under the new firm follows the merger of the two insurance companies officially completed last September
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