Countries with the richest pensions in 2025
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Pension systems are the basis of retirees' financial security, pooling trillions of dollars in assets around the world to support an aging population.
To learn more about this important sector, we have visualized global pension assets by country, based on January 2025 data. Global SWF.
Data and key points
Public pension schemes provide retirement and disability benefits to workers and are regulated by public sector legislation.
Usually they are structured like this Defined benefit (DB) planThis means that workers make mandatory contributions and receive monthly benefits for the rest of their lives after they retire.
The benefits you receive are determined by a formula, usually calculated as a percentage of your average salary for your highest earning years of service.
The numbers used to create this graphic are shown in the following table.
| rank | country | Public pension assets ($B) |
|---|---|---|
| 1 | 🇺🇸United States | $11,760 |
| 2 | 🇯🇵Japan | $2,066 |
| 3 | 🇨🇦Canada | $1,804 |
| 4 | 🇳🇱 Netherlands | $1,131 |
| 5 | 🇦🇺Australia | $1,121 |
| 6 | 🇰🇷South Korea | $948 |
| 7 | 🇬🇧 United Kingdom | $610 |
| 8 | 🇨🇳China | $588 |
| 9 | 🇩🇰Denmark | $569 |
| 10 | 🇸🇪Sweden | $489 |
| 11 | 🇸🇬Singapore | $413 |
| 12 | 🇸🇦 Saudi Arabia | $349 |
| 13 | 🇲🇾Malaysia | $318 |
| 14 | 🇮🇳India | $305 |
| 15 | 🇫🇮Finland | $256 |
| 16 | 🇹🇼Taiwan | $241 |
| 17 | 🇩🇪Germany | $224 |
| 18 | 🇫🇷France | $218 |
| 19 | 🇿🇦South Africa | $187 |
| 20 | 🇨🇭Switzerland | $149 |
| twenty one | 🇰🇼Kuwait | $137 |
| twenty two | 🇳🇴Norway | $117 |
| twenty three | Thailand | $107 |
| Not applicable | 🌍Other | $913 |
The United States holds the most pension assets in the world, but the world's largest pension fund by assets belongs to Japan.
It was established by the Japanese government in 2006. Government Pension Investment Fund (GPIF) is a recent outcome of the country's pension system reform.
GPIF invests in a 50:50 ratio of stocks and bonds. Each of these components is further divided equally into domestic securities and international securities.
America's largest pension fund
America's largest public pension system is Federal Retirement Savings Investment Board (FRTIB), California Public Employee Retirement System,and California Teacher Retirement System.
FRTIB manages: frugal savings plantargeted at a wide range of federal employees, including the Postal Service, Congress, and the military.
The latter two are California-based pension plans designed to provide benefits to the state's public employees.
Challenges facing pensions
Pensions must invest their assets responsibly to ensure sufficient cash flow to pay member benefits.
This is not an easy task, as there are trends such as Global agingthe proportion of retirees is increasing.
According to recent reports, Equality InstitutePublic pensions across the United States were running out of funds. $1.6 trillion This is pushing plans to seek riskier investments, which could cause problems down the road.
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