Global Pension Assets Study 2019

Thinking Ahead Institute

Roger Urwin

Research

41 Pages

Thinking Ahead Institute explores the evolution of global pension systems, focusing on funding challenges, shifting asset allocations, and the rise of defined contribution structures across major markets. It highlights how 2018’s weak returns tested resilience, yet diversification into alternatives helped stabilize outcomes, raising questions about long-term sustainability.

Key Takeaways

DC Growth Dominance: Defined contribution assets grew 8.9% annually over 10 years versus 4.6% for DB, now exceeding 50% of total assets across major pension markets.
Private Markets Cushion: With roughly 20% allocation, private assets helped offset one of the worst years in 20, supporting a 5-year return of 2.9% and 10-year return of 6.5%.
Asset Allocation Shift: Equity allocations declined while alternatives increased, reflecting a structural pivot as funds adapt to volatility and evolving liability pressures across global systems.
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