Average growth rate of the largest pension markets worldwide 2023

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.