The European Insurance and Occupational Pensions Authority has published its 2024 IORPs in Focus report, providing a consolidated view of developments in the European market for institutions for occupational retirement provision, covering both domestic and cross-border IORPs in a single publication for the first time since 2018. The data points to continued consolidation, a further shift toward defined contribution provision and a recovery in assets under management. By end-2023, total members and beneficiaries reached 71.6 million and assets under management rebounded to EUR 2.72 trillion, up from EUR 2.3 trillion in 2022. The number of IORPs fell by 1.7% as smaller institutions merged into larger ones, while the number of multi-employer IORPs increased. On investments, IORPs continued to rely heavily on investment funds, particularly those invested in equities and debt, with notable differences in approaches across Member States. Cross-border activity remained limited, with cross-border IORPs operating in only eight Member States and the total number declining to 28.
European Insurance and Occupational Pensions Authority 2025-02-11
European Insurance and Occupational Pensions Authority reports consolidation and asset rebound in Europe’s occupational pension funds
The European Insurance and Occupational Pensions Authority's 2024 IORPs in Focus report highlights ongoing consolidation and a shift toward defined contribution schemes in the European occupational retirement market. By end-2023, assets under management rose to EUR 2.72 trillion, with members and beneficiaries reaching 71.6 million. Despite a 1.7% decline in IORPs, multi-employer IORPs increased, while cross-border activity remained limited to eight Member States.