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 2025: New government faces choices on pensions reform
The collapse of Germany’s three-party coalition last year left behind a backlog of laws and proposals on pensions. What happens now?
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
Funding Solutions completes German pension buyout as market momentum builds
The latest pension buyout deal is with automotive supplier Sinterwerke Herne
German pension funds turn to Asia due to concerns over US assets
SOKA-BAU aims to increase its overall allocation to Asian assets to 35% of its total portfolio, up from the current 12.7% level
AllianzGI, Lurse launch occupational pension solution for SMEs
Allianz Plug-In Pension offers range of options for designing customised retirement plans, including flexible contribution structures and payout choices
Germany’s VBL to face court ruling on investment transparency
Fund argues that plaintiff is not entitled to details, noting that existing rule already imposes extensive disclosure obligations
Industry bodies bemoan new German government’s pension plans
New coalition government’s plan represents ‘a commitment to maintaining existing structures’ rather than a basis for far-reaching reforms
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 funds need to step up in fight to boost economic growth
Germany’s Christian Democratic Union (CDU) and Christian Social Union (CSU) parties, together with the Social Democratic Party (SPD), have now entered negotiations to form a new ‘grand coalition’ government
Funding Solutions completes German pension buyout as market momentum builds
The latest pension buyout deal is with automotive supplier Sinterwerke Herne
German pension funds turn to Asia due to concerns over US assets
SOKA-BAU aims to increase its overall allocation to Asian assets to 35% of its total portfolio, up from the current 12.7% level
AllianzGI, Lurse launch occupational pension solution for SMEs
Allianz Plug-In Pension offers range of options for designing customised retirement plans, including flexible contribution structures and payout choices
Germany’s VBL to face court ruling on investment transparency
Fund argues that plaintiff is not entitled to details, noting that existing rule already imposes extensive disclosure obligations
Industry bodies bemoan new German government’s pension plans
New coalition government’s plan represents ‘a commitment to maintaining existing structures’ rather than a basis for far-reaching reforms
Metzler launches new DC plan to drive social partner model strategy
The arrangement involves trade union Ver.di and WBO, the association for private bus operators in Baden-Württemberg, to launch a DC plan on 1 January 2026
Funding resilience and strategic reallocation drive German pensions
WTW estimates that DAX companies faced a combined cost of €250m in 2024 to adjust pensions for inflation
Frankfurt public prosecutor fines DWS after greenwashing investigation
A €25m fine has been issued against DWS Group and DWS Investment
SOKA-BAU’s chief investment officer to step down
Gregor Asshoff will leave the German pension fund after almost 10 years
SOKA-BAU tweaks strategy as new investment rule comes into force
Construction industry pension fund will increase allocations to infrastructure, private equity, equities, and ‘riskier’ fixed income
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