Pension assets grew in 2023, partly offsetting 2022 losses: • Assets earmarked for retirement rose in 2023 thanks to the investment gains that pension plans earned on their bond and equity holdings;
•Yet, these investment gains were insufficient to fully offset losses incurred in 2022 in some of the largest pension markets.
The total pension assets in the OECD are still lower than at the end of 2021
Pension assets grew again in 2023 but remained below the level reached in 2021
Assets earmarked for retirement rose in 2023. Preliminary data show that assets in pension plans grew by over
8% in the OECD and by over 14% in a group of 33 non-OECD jurisdictions in 2023. Nearly all reporting jurisdictions
experienced an increase (Table 1), with assets declining in only 5 out of the 71 reporting jurisdictions, including
3 OECD countries: Luxembourg (due to the liquidation of two funds), Portugal (due to the transfer of the assets
of a pension fund to the public pension system) and the United Kingdom (due to a decrease in the value of bond
holdings and to defined benefit plans completing full buy-outs and deleveraging by selling assets to pay down
liabilities).
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