Pension funds

This section provides statistical data and background information on statistics on the assets and liabilities of pension funds (PFs).

Data

Euro area pension fund (PF) statistics are available as of the first quarter of 2016. They replace the PF statistics that were previously published by the ECB as part of a broader euro area insurance corporation and pension fund (ICPF) statistical dataset. ICPF statistics are available for the reference periods from the first quarter of 2008 to the second quarter of 2016 SDW.

The discontinuation of ICPF data collection, which was triggered by the collection of harmonised insurance corporation (IC) statistics, called for the separate collection of PF data, even though PF statistics had not been harmonised. As a result, reporting schemes changed for both IC and PF statistics. To provide continuity between the old ICPF statistics and the now separate harmonised IC and non-harmonised PF statistics, a link has been created between the datasets.

The series keys of ICPF euro area aggregates have been mapped with the equivalent series keys of the harmonised IC and new non-harmonised PF euro area aggregates, when available.

Statistics on euro area PFs cover those EU Member States whose currency was the euro at the time to which the statistics relate.

The reporting population comprises all PFs located in the euro area, including those that are foreign-owned subsidiaries (*) or branches of foreign entities. Foreign branches and subsidiaries of domestically owned entities are not included.

The PF data refer to the assets and liabilities of PFs and currently cover end-of-quarter outstanding amounts and selected financial transactions.

Outstanding amounts, or stock data, refer to the value of assets and liabilities at the end of the reference period.

Transactions, or flow data, refer to the net acquisition of a given type of asset, or the net incurrence of a given type of liability, during the reference period.

* Subsidiaries are separate, distinct legal entities. For this reason, they differ from branches, which are businesses fully integrated within the main company and are not legally or otherwise distinct from the parent company. Subsidiaries are usually limited liability companies, whereas branches do not have their own legal status.

Euro area pension funds balance sheet

Aggregated balance sheet of euro area pension funds

Statistical Data Warehouse – Interactive data access

All pension funds time series

 

Background

Pension funds are financial corporations and quasi-corporations that are principally engaged in financial intermediation as a consequence of the pooling of the social risks and needs of the insured persons (social insurance). Pension funds as social insurance schemes provide income in retirement and often benefits for death and disability.

The ECB has been receiving quarterly pension fund statistics collected under the “pension fund short-term approach” and reported under the ECB Guideline on monetary and financial statistics (ECB/2014/15).

Historical data on insurance corporations and pension funds