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
VBL picks Nordea to invest €1.25bn in Paris-aligned equities
The fund is pursuing an ambitious CO2 reduction target as it aims to cut greenhouse gas emissions by 7% per year
German bank Berenberg, Lurse join forces to set up OCIO provider
The two firms are merging their respective company pension solutions to create specialised OCIO provider for asset allocation of company pension schemes
German pensions industry pins hope on next cabinet for second pillar reform
Germany’s occupational pension industry has been let down by the sudden halt of the second pillar pension system reform process, triggered by a political crisis, as it pins its hope on the next government to build on the groundwork laid out so far.
Hapag-Lloyd, Evonik switch to defined contribution plans
Existing occupational pension contracts for senior people and captains of Hapag-Lloyd will remain in place, despite the DC switch
German SMEs sceptical of DC plans without guarantees
The majority of SMEs is in favour of guaranteed benefits that are primarily intended to support low earners, part-time workers or young professionals
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.
VBL picks Nordea to invest €1.25bn in Paris-aligned equities
The fund is pursuing an ambitious CO2 reduction target as it aims to cut greenhouse gas emissions by 7% per year
German bank Berenberg, Lurse join forces to set up OCIO provider
The two firms are merging their respective company pension solutions to create specialised OCIO provider for asset allocation of company pension schemes
German pensions industry pins hope on next cabinet for second pillar reform
Germany’s occupational pension industry has been let down by the sudden halt of the second pillar pension system reform process, triggered by a political crisis, as it pins its hope on the next government to build on the groundwork laid out so far.
Hapag-Lloyd, Evonik switch to defined contribution plans
Existing occupational pension contracts for senior people and captains of Hapag-Lloyd will remain in place, despite the DC switch
German SMEs sceptical of DC plans without guarantees
The majority of SMEs is in favour of guaranteed benefits that are primarily intended to support low earners, part-time workers or young professionals
German liberal party axes first pillar pension reform package
Labour minister Hubertus Heil says his party SPD ‘will fight’ to find a majority in Parliament to approve the reform package before elections on 23 February 2025
Aba looks beyond snap elections for comprehensive pensions reform
Germany’s three reform packages for public, occupational and private pensions are currently at different stages of the legislative process
Transition to DC plans by German firms almost complete, says WTW
Survey shows that 97% of firms in Germany now offer a defined contribution option
Collapse of German government coalition turns back clock on pension reforms
Finance minister and head of the FDP Christian Lindner, whose party pushed for an equity fund for first pillar pensions, was sacked today
German finance minister’s pension plans continue to test coalition
Chancellor Olaf Scholz rushes to hold talks today after FDP finance minister Christian Lindner puts forward new economic reform ideas
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