Industry Statistics and Trends
Pension Funding in Europe key trends
Precarious financial markets hit investment income.
The rising base rate environment and subdued economic growth have hurt both the equity and bonds markets, weighing on investment income.
An ageing population ratchets up liabilities.
Countries across Europe are seeing their populations grow older, creating greater benefit obligations for pension funds to meet.
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Pension Funding in Europe
Industry Revenue
Total value and annual change from 2011-2029. Includes 5-year outlook.
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Pension Funding in Europe market size (2019-2024)
Industry revenue has declined at a CAGR of 4.2 % over the past five years, to reach an estimated €793.0bn in 2024.
Trends and Insights
Pension funds across Europe see a sharp decline in assets as financial markets falter
- Pension fund assets must be able to meet their liabilities – the benefits given to retirees. This is known as the funding ratio.
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Pension Funding in Europe outlook (2024-2029)
Market size is projected to grow over the next five years.
France and Germany look well positioned to capitalise on AI excitement
- Economic conditions are set to improve in the short term as inflationary pressures subside and central banks adopt looser monetary policy. This means a decline in interest rates, supporting bond prices as investors look to lock in higher yields.
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Revenue
€793.0bn
Employees
107k
Wages
€X.Xbn
European Leaders & Laggards
Top 5 Countries
Bottom 5 Countries
* CAGR values are for the years 2019-2024.
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Biggest companies in the Pension Funding in Europe
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Allianz SE | 168,329.1 | 15,431.5 | 9.2 | |
Legal & General Group | 43,935.3 | 4,294.6 | 9.8 | |
Aegon NV | 22,194.5 | 2,525.7 | 11.4 |
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Pension Funding in Europe
Products & Services Segmentation
Industry revenue broken down by key product and services lines.
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Top Questions Answered in this Report
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What is the market size of the Pension Funding industry in Europe in 2024?
The market size of the Pension Funding industry in Europe is €793.0bn in 2024.
How many businesses are there in the Pension Funding in Europe industry in 2024?
There are 164k businesses in the Pension Funding industry in Europe, which has grown at a CAGR of 0.1 % between 2019 and 2024.
Has the Pension Funding industry in Europe grown or declined over the past 5 years?
The market size of the Pension Funding industry in Europe has been declining at a CAGR of 4.2 % between 2019 and 2024.
What is the forecast growth of the Pension Funding industry in Europe over the next 5 years?
Over the next five years, the Pension Funding industry in Europe is expected to grow.
What does the Pension Funding in Europe include?
Defined Contribution schemes and Defined Benefit schemes are part of the Pension Funding industry.
Which countries have the most businesses in the Pension Funding industry in Europe?
The European country with the most businesses in the Pension Funding industry is Cyprus.
How competitive is the Pension Funding industry in Europe?
The level of competition is high and increasing in the Pension Funding industry in Europe.
Related Industries
This industry is covered in 37 countries
- Pension Funding in Greece
- Pension Funding in Romania
- Pension Funding in Czechia
- Pension Funding in Estonia
- Pension Funding in Slovenia
- Pension Funding in Europe
- Pension Funding in Austria
- Pension Funding in France
- Pension Funding in Slovakia
- Pension Funding in Belgium
- Pension Funding in Switzerland
- Pension Funding in Denmark
- Pension Funding in Bulgaria
- Pension Funding in Luxembourg
- Pension Funding in the Netherlands
- Pension Funding in Lithuania
- Pension Funding in Italy
- Pension Funding in Cyprus
- Pension Funding in Latvia
- Pension Funding in Spain
- Pension Funding in Norway
- Pension Funding in Portugal
- Pension Funding in Hungary
- Pension Funding in Poland
- Pension Funding in Finland
- Pension Funding in Croatia
Table of Contents
About this industry
Industry definition
The Pension Funding industry provides retirement benefits for people no longer earning an income. It includes both occupational and personal pension schemes, but doesn’t cover state pensions.
Related Terms
DEFINED BENEFIT SCHEME DEFINED CONTRIBUTION SCHEME ASSETS UNDER MANAGEMENT (AUM)What's included in this industry?
Defined Contribution schemesDefined Benefit schemesCompanies
Allianz SELegal & General GroupAegon NVIndustry Code
653 - Pension funding in Europe
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Performance
Key Takeaways
Pension funds across Europe see a sharp decline in assets as financial markets falter
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Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue in the Pension Funding in Europe industry (2011 -2029)
- Employees in the Pension Funding in Europe industry (2011 -2029)
- Business in the Pension Funding in Europe industry (2011 -2029)
- Profit in the Pension Funding in Europe industry (2011 -2029)
Analysis
What's driving current industry performance in the Pension Funding in Europe industry?
Outlook
Analysis
What's driving the Pension Funding in Europe industry outlook?
Volatility
Analysis
What influences volatility in the Pension Funding in Europe industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Pension Funding in Europe industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Low interest rates trigger a shift away from DB schemes. DB schemes have struggled in the low interest rate environment, making it difficult for pension funds to compensate for higher inflation.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Pension Funding in Europe industry's products and services performing?
Analysis
What are innovations in the Pension Funding in Europe industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Pension Funding in Europe industry?
International Trade
Highlights
- Total Imports into Europe
- Total Exports into Europe
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Revenue by Region (2024)
- Share of Total Industry Enterprises by Region (2024)
- Share of Total Industry Employment by Region (2024)
- Share of Total Industry Wages by Region (2024)
Industry Geographic Breakdown
Data Tables
Values and annual change provided for 37 European countries:
- Revenue (2024)
- IVA (2024)
- Enterprises (2024)
- Employment (2024)
- Exports (2024)
- Imports (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
The pension funding market remains fragmented. However, concentration varies across different countries in Europe; some have a larger number of smaller funds, while others are dominated by a few large funds.
Supply Chain
Charts
Buyer and supply industries
Companies
Market Share
Charts
- Industry Market Share by Company (2019-2024)
Companies
Data Tables
Top 10 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit Margin (2024)
Data Tables
- Countries of operation for Allianz SE
- Countries of operation for Legal & General Group
- Countries of operation for Aegon NV
- Countries of operation for Abrdn plc
- Countries of operation for Aviva plc
- Countries of operation for Swiss Life Holding AG
- Countries of operation for Prudential plc
- Countries of operation for Assicurazioni Generali
- Countries of operation for NN Group NV
- Countries of operation for PFA Holding A/S
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Pensions funds face heavy regulatory scrutiny. Pension providers must adhere to pension, finance and tax regulations, which can vary between countries.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Pension Funding in Europe industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Struggling investment markets weigh on profitability. Rising interest rates and subdued economic growth have hit investment markets hard, cutting into pension funds’ returns.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Pension Funding in Europe industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.
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France
Italy
Spain