The UK has fallen to sixth place in the geographical rankings of the world’s largest pensions funds, according to research by Willis Towers Watson.
The US remains top, with Japan in second place, followed by The Netherland and Norway.
The UK-listed firm with the biggest pension scheme is Royal Dutch Shell, although its fund is actually domiciled in The Netherlands; this places Shell (with pension assets of 67.8 bln usd) 48th in the list of top 300 schemes surveyed. Eight places behind Shell, BT reported 63.1 bln usd in its pension scheme, while RBS and Lloyds were 60th and 62nd, with pension assets of 60.7 bln usd and 56.2 bln usd respectively.
Total assets held by the 300 top schemes increased by 6.1 pct in 2016 to 15.7 trln usd (12.1 trln stg). This increase in assets managed by the world’s largest pension funds emerged after a contraction in 2015 of 3.4 pct.
Approximately 43.2 pct of global pension assets are concentrated in these top 300 funds, compared with 42.5 pct in 2015. The largest pension fund in the world is Japan’s Government Pension Investment Fund, with 1.24 trln usd in assets under management (AuM); Norway’s scheme controls 893 bln usd AuM.