Two countries have half the world’s retirement wealth. Britain has only one fund in the top 50 – but the BBC nearly makes the top 200. Andrew Oxlade offers lessons from the top 300.
Reports on the pensions industry can be dull and are easily overlooked.
One such study published last week attracted few headlines yet offered wonderful insights.
The world’s 300 largest pension schemes, a study put together by Towers Watson, allowed for interesting conclusions to be drawn on who owns the world’s retirement wealth – and what that says about how each country will meet future pension costs.
First, I was surprised that only one British scheme made the top 50: BT Group which has accumulated $68bn to ensure it can pay employees past and present sufficient retirement income.
The next biggest British pensions were the Universities Superannuation Scheme, with big banks’ and utility companies’ schemes close behind.
BT may have only just made the top 50 but lower sections of the list were loaded with UK pensions.