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 government pushes back on further review of CSRD
Rules put forward by the cabinet have unsettled the company pension industry in Germany
German church scheme KZVK appoints new CIO
Christoph Metz will replace Stefan Heidelfrom from January next year
German institutional investors slowly return to hedge funds, liquid alternatives
This points to a ‘trend reversal, and an important signal for the industry that many have been waiting for years’, says BAI’s Philipp Bunnenberg
Third pillar draft reform likely to cause lasting damage to company pensions, says aba
Only 15% of German companies back actions to further strengthen the country’s social partner model with its pure DC plans, according to WTW
German Insurance Association calls on government to improve third pillar reform draft
GDV says the value of lifelong benefits is underestimated in the public perception
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
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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 politicians pronounce on pensions policy ahead of next year's election
With federal elections likely to be held on 28 September next year, German politicians have started to reveal ideas on pensions.
German government pushes back on further review of CSRD
Rules put forward by the cabinet have unsettled the company pension industry in Germany
German church scheme KZVK appoints new CIO
Christoph Metz will replace Stefan Heidelfrom from January next year
German institutional investors slowly return to hedge funds, liquid alternatives
This points to a ‘trend reversal, and an important signal for the industry that many have been waiting for years’, says BAI’s Philipp Bunnenberg
Third pillar draft reform likely to cause lasting damage to company pensions, says aba
Only 15% of German companies back actions to further strengthen the country’s social partner model with its pure DC plans, according to WTW
German Insurance Association calls on government to improve third pillar reform draft
GDV says the value of lifelong benefits is underestimated in the public perception
IPE DACH Briefing: KENFO claims Generational Capital concept will meet expectations
Plus: Rentenpaket II reform debate brings division; Swiss schemes use Swiss National Bank Bills
KENFO slams Greenpeace’s claim of poorly effective ESG strategy
Greenpeace’s research raised doubts about the effective implementation of KENFO’s sustainability strategy
KENFO rejects further ESG requirements to invest first pillar equity fund assets
According to KENFO, ‘there should be no legal requirements for sustainability’ when investing Generationenkapital’s assets
German companies ditch stronger social partner model
Almost 40% of German companies believe greatest leverage to spread company pension schemes is the introduction of auto-enrolment, WTW survey shows
Germany’s third pillar pension reform is no ‘game changer’, critics say
Savers continue to struggle to choose retirement provision products, says BdV
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