The average growth rate for the 22 largest pension markets worldwide was estimated to be 10.4 percent between 2022 and 2023, and the ten-year compound annual growth rate until 2023 was estimated to be 3.8 percent. Retirement savings in pension funds grew during the last decade and the amount of worldwide pension assets reached new heights in 2021, which can be partially explained by a higher share of working-age population investing in pension plans.
Which is the largest pension market?
The largest pension market worldwide is the United States, where the total pension fund assets was almost 10 times larger than in the United Kingdom, which is the second largest pension market worldwide. Despite some fluctuations during the last decade, the U.S. pension assets grew overall, and as with the worldwide pension assets, reached the highest value in 2020.
Pension assets to GDP
Despite its relatively small population size, the Netherlands was the fourth largest pension market worldwide, after the United States, United Kingdom, and Canada. The pension market in Netherlands was also the largest market worldwide when compared to the size of its own economy, followed by Canada, Australia, and Spain.
Average compound growth rate of the largest pension markets worldwide in 2023
Characteristic
Compound annual growth rate
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Estimated rates to 2023; refers to the 22 largest markets for pension assets
Supplementary notes
The countries included are the 22 largest markets for pension assets, the countries are the following: Australia, Brazil, Canada, Chile, China, Finland, France, Germany, Hong Kong, India, Ireland, Italy, Japan, Malaysia, Mexico, Netherlands, South Africa, South Korea, Spain, Switzerland, United Kingdom, and United States.
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Thinking Ahead Institute. (February 22, 2024). Average compound growth rate of the largest pension markets worldwide in 2023 [Graph]. In Statista. Retrieved July 15, 2024, from https://www.statista.com/statistics/721151/average-growth-largest-pension-markets-worldwide/
Thinking Ahead Institute. "Average compound growth rate of the largest pension markets worldwide in 2023." Chart. February 22, 2024. Statista. Accessed July 15, 2024. https://www.statista.com/statistics/721151/average-growth-largest-pension-markets-worldwide/
Thinking Ahead Institute. (2024). Average compound growth rate of the largest pension markets worldwide in 2023. Statista. Statista Inc.. Accessed: July 15, 2024. https://www.statista.com/statistics/721151/average-growth-largest-pension-markets-worldwide/
Thinking Ahead Institute. "Average Compound Growth Rate of The Largest Pension Markets Worldwide in 2023." Statista, Statista Inc., 22 Feb 2024, https://www.statista.com/statistics/721151/average-growth-largest-pension-markets-worldwide/
Thinking Ahead Institute, Average compound growth rate of the largest pension markets worldwide in 2023 Statista, https://www.statista.com/statistics/721151/average-growth-largest-pension-markets-worldwide/ (last visited July 15, 2024)
Average compound growth rate of the largest pension markets worldwide in 2023 [Graph], Thinking Ahead Institute, February 22, 2024. [Online]. Available: https://www.statista.com/statistics/721151/average-growth-largest-pension-markets-worldwide/