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sheet 1 home page pension markets in focus preliminary 2021 data on pension funds june 2022 table 1 assets in pension funds and all retirement savings vehicles at end2021 preliminary ...

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Sheet 1: Home page

Pension Markets in Focus
Preliminary 2021 Data on Pension Funds - June 2022

Table 1. Assets in pension funds and all retirement savings vehicles at end-2021 (preliminary)
Figure 1. Nominal and real investment rates of return of pension funds, Dec 2020 - Dec 2021 (preliminary)
Figure 2. Asset allocation of pension funds in selected investment categories at end-2021 (preliminary)


Methodological notes
Methodological notes


Source: OECD Global Pension Statistics.
www.oecd.org/daf/pensions/gps
www.oecd.org/daf/pensions/pensionmarkets

Sheet 2: Table 1
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Table 1. Assets in pension funds and all retirement savings vehicles at end-2021 (preliminary)
























OECD countries Pension funds
All vehicles
Selected other jurisdictions Pension funds
All vehicles
% change (1) in USD million % of GDP
% of GDP
% change (1) in USD million % of GDP
% of GDP
Australia 18.0 2,272,767 146.2
148.8
Albania 27.1 43 0.2
0.2
Austria 8.0 30,553 6.7
..
Armenia 30.7 1,006 6.9
..
Belgium 8.0 52,644 9.2
36.6
Brazil 0.5 186,447 12.0
25.0
Canada .. 1,712,806 90.1
167.2
Bulgaria 12.7 11,360 14.8
14.8
Chile -4.5 167,556 60.3
..
Croatia 11.7 21,485 33.1
33.1
Colombia 8.3 86,828 29.5
29.5
Egypt 8.0 6,245 1.5
1.5
Costa Rica 20.1 24,874 40.0
40.0
Georgia 69.6 646 3.3
3.3
Czech Republic 6.0 26,173 9.4
9.4
Ghana 27.2 4,748 6.3
6.3
Denmark -8.0 190,403 50.0
210.8
Guyana 19.6 463 6.1
6.1
Estonia -15.5 5,076 14.6
16.8
Hong Kong (China) 4.9 198,039 54.0
54.0
Finland 15.3 173,962 60.7
..
India 27.4 94,098 3.0
..
France 16.6 77,247 2.7
11.1
Indonesia 3.6 22,215 1.9
..
Germany 0.4 313,807 7.8
..
Jamaica 7.9 4,721 31.7
31.7
Greece 11.9 2,083 1.0
..
Kazakhstan 4.6 31,291 16.6
16.6
Hungary 5.6 6,166 3.6
5.2
Kenya 10.6 13,677 12.9
12.9
Iceland 17.9 51,683 208.4
219.1
Kosovo 18.3 2,676 30.9
30.9
Ireland 15.1 164,227 34.4
..
Macau (China) 9.1 4,914 16.5
16.5
Israel 16.1 360,569 72.1
..
Maldives 11.9 1,130 22.3
22.3
Italy 6.4 194,592 9.7
12.6
Namibia 17.6 11,819 103.0
115.9
Japan 2.3 1,483,416 31.3
..
Nigeria 9.1 32,644 7.6
7.6
Korea 15.3 249,115 14.4
32.3
North Macedonia 21.3 1,999 15.0
15.0
Latvia 19.7 827 2.2
20.5
Pakistan 11.4 224 0.1
..
Lithuania 31.5 6,944 11.1
11.1
Peru -19.1 33,436 15.3
15.3
Luxembourg 5.0 2,193 2.6
..
Romania 18.5 21,168 7.8
7.8
Mexico 11.2 254,373 20.0
..
Serbia 4.3 473 0.8
0.8
Netherlands 7.4 2,042,637 209.5
..
Suriname 1.7 324 12.1
..
New Zealand 19.0 90,144 37.3
37.3
Thailand 6.4 40,366 8.3
..
Norway 7.0 51,109 10.9
..
Uganda 15.8 5,325 12.4
..
Poland 26.2 46,485 7.2
..
Uruguay 14.1 17,351 30.0
30.0
Portugal 4.7 27,324 11.4
..
Zimbabwe 285.8 2,015 7.6
..
Slovak Republic 16.9 17,469 15.9
15.9
Total (2) 1.7 772,349 8.3

Slovenia 20.6 4,211 7.1
7.8






Spain 7.5 142,940 10.5
14.2






Sweden .. 23,777 4.0
101.8






Switzerland .. 1,164,503 143.1
..






Turkey 41.2 18,430 3.3
..






United Kingdom 4.3 3,572,623 117.0
..






United States 11.6 22,599,191 98.3
170.0






OECD Total (2) 8.2 37,711,728 66.9


































Notes: ".." means not available. (1) The column "% change" shows the nominal change of pension fund assets in national currency compared to the amount in December 2020, except for Australia (June 2020). (2) The total is the result of the conversion of the values for each jurisdiction in USD. The total % change is calculated as the change of total assets in the considered area (in US dollar) between end-2020 and end-2021. Total pension fund assets as a % of GDP are calculated as the ratio between the sum of all pension fund assets and the sum of all the GDPs (in US dollar) of the reporting jurisdictions in the area considered.

Investments are used as a proxy of assets. The column "All vehicles" gives the amount of assets in all retirement savings plans in 2021. Exchange rates come from the IMF International Financial Statistics database. GDP values come from OECD.Stat and the IMF World Economic Outlook.

Technical provisions have been used as a proxy of assets in pension insurance contracts for Belgium and book reserves in Italy. There is a methodogical change in the estimation of pension fund assets in Canada in 2021, preventing the calculation of the nominal growth rate of assets between 2020 and 2021. Data for the United Kingdom refer to the gross assets of pension funds and exclude the net value of derivatives.

Source: OECD Global Pension Statistics; Bank of Japan; Korean Ministry of Employment and Labour

Sheet 3: Figure 1
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Figure 1. Nominal and real investment rates of return of pension funds, Dec 2020 - Dec 2021 (preliminary)














In per cent









A. Selected OECD countries













Real IRRs Nominal IRRs height

A. Selected OECD countries



B. Selected other jurisdictions



Poland 15.2 25.2 0.981481481481482











Finland 12.3 16.2 0.944444444444444











Australia 11.1 15.3 0.907407407407407











Costa Rica 10.0 13.6 0.87037037037037











Lithuania 9.2 20.7 0.833333333333333











Israel 8.4 11.5 0.796296296296296











Iceland 6.3 11.7 0.759259259259259











Colombia 3.7 9.6 0.722222222222222











Austria 3.3 7.6 0.685185185185185











United States 2.9 10.1 0.648148148148148











Norway 2.6 8.1 0.611111111111111











Canada 2.1 6.2 0.574074074074074











Netherlands 2.1 7.9 0.537037037037037











Spain 1.9 8.6 0.5











Belgium 1.9 7.7 0.462962962962963











Portugal 1.5 4.3 0.425925925925926











Italy 1.0 4.9 0.388888888888889











Greece 0.7 5.8 0.351851851851852











Estonia -0.2 11.9 0.314814814814815











Mexico -0.3 7.1 0.277777777777778











Latvia -1.0 6.8 0.240740740740741











Denmark -2.9 0.1 0.203703703703704











Slovenia -3.0 1.7 0.166666666666667
Notes: Data have been calculated using a common formula for the average nominal net investment rate of return (ratio between the net investment income at the end of the period and the average level of assets over the period) for all jurisdictions, except for Austria, Finland, Israel, Italy, Lithuania, Netherlands, Slovenia and the United States among OECD countries and for Armenia, Croatia and Hong Kong (China) where values come from the own calculations of national authorities or from other official sources. Average real net investment rates of return have been calculated using the nominal investment rate of return (as described above) and the variation of the end-of-period consumer price index (extracted from OECD.Stat, the IMF’s online database or the IMF's World Economic Outlook published in April 2022) usually for the same period over which the nominal return is calculated, i.e. between June 2020 and June 2021 for Australia, between December 2020 and September 2021 for Canada, and between December 2020 and December 2021 for the other jurisdictions. These results may deviate from the own calculations of national authorities. The investment rate of return is net of tax and investment expenses for Australia. The investment rate of return of pension funds is calculated only for new pension funds in Israel, contractual pension funds in Italy (and is net of taxes), mutual pension funds in Slovenia, pension funds in charge of the accumulation phase in Croatia, Mandatory Provident Fund (MPF) schemes in Hong Kong (China).

Source: OECD Global Pension Statistics.
Chile -3.2 3.7 0.12962962962963
Hungary -4.7 2.4 0.092592592592593
Czech Republic -5.5 0.8 0.055555555555556
Turkey -9.7 22.9 0.018518518518519










B. Selected other jurisdictions









Real IRRs Nominal IRRs height
Egypt 8.8 14.2 0.980769230769231
Uganda 7.7 10.8 0.942307692307692
North Macedonia 4.6 9.6 0.903846153846154
Indonesia 4.0 5.9 0.865384615384615
Uruguay 3.9 12.1 0.826923076923077
Maldives 3.5 3.5 0.788461538461538
Kosovo 3.2 10.1 0.75
Thailand 2.0 4.2 0.711538461538462
Kazakhstan 1.7 10.3 0.673076923076923
India 1.4 7.1 0.634615384615385
Croatia 1.4 6.9 0.596153846153846











Albania -0.4 3.3 0.557692307692308











Macau (China) -0.5 0.5 0.519230769230769











Guyana -1.3 4.3 0.480769230769231











Romania -1.8 6.2 0.442307692307692











Peru -2.4 4.5 0.403846153846154











Bulgaria -2.5 5.1 0.365384615384615











Hong Kong (China) -2.6 -0.3 0.326923076923077











Georgia -3.2 10.2 0.288461538461538











Armenia -4.6 2.8 0.25











Nigeria -5.5 9.3 0.211538461538462











Serbia -6.1 1.3 0.173076923076923











Pakistan -6.5 5.0 0.134615384615385











Ghana -9.8 1.6 0.096153846153846











Suriname -26.5 18.0 0.057692307692308











Zimbabwe -31.8 9.7 0.019230769230769













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...Sheet home page pension markets in focus preliminary data on funds june table assets and all retirement savings vehicles at end figure nominal real investment rates of return dec asset allocation selected categories methodological notes source oecd global statistics wwwoecdorgdafpensionsgps wwwoecdorgdafpensionspensionmarkets to the menu countries other jurisdictions change usd million gdp australia albania austria armenia belgium brazil canada bulgaria chile croatia colombia egypt costa rica georgia czech republic ghana denmark guyana estonia hong kong china finland india france indonesia germany jamaica greece kazakhstan hungary kenya iceland kosovo ireland macau israel maldives italy namibia japan nigeria korea north macedonia latvia pakistan lithuania peru luxembourg romania mexico serbia netherlands suriname new zealand thailand norway uganda poland uruguay portugal zimbabwe slovak total slovenia spain sweden switzerland turkey united kingdom states quot means not available column...

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