What Is The Overview Of The Global Pension Funds Market?
A pension fund is a pool of assets set aside by an employer, employees, or both to provide retirement income for employees. It is managed to grow over time through investments in various financial instruments, ensuring that employees receive regular payments or a lump sum upon retirement. The fund provides financial security and stability for individuals in retirement by offering a reliable source of income.
Pension Funds Global Market Report 2024 provides data on the global pension funds market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The pension funds market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Projections Can We Expect For The Size And Growth Rates Of The Global Pension Funds Market?
The pension funds market has seen significant growth, increasing from $63,806.67 billion in 2023 to $69,418.63 billion in 2024 at a CAGR of 8.8%. Growth factors include aging populations, favorable economic conditions, regulatory changes, and shifting investment strategies. The market is projected to reach $97,599.10 billion in 2028, growing at a CAGR of 8.9%, driven by sustainability-focused investments, fintech adoption, economic uncertainty, and longevity risks. Key trends include defined contribution plans, digital retirement planning tools, private equity interest, and liability-driven investment strategies.
What Are The Core Factors Supporting Growth In The Pension Funds Market?
The growing demand for aging population services is expected to support the growth of the pension fund market. As life expectancy increases and birth rates decline, the proportion of elderly individuals needing financial support in retirement rises. Pension funds provide financial security for these aging populations. For example, a 2022 United Nations report predicted that the global population of people aged 65 and above would increase from 10% in 2022 to 16% by 2050. The rising demand for pension services for aging populations will drive the growth of the pension fund market.
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What Is The Segmentation Of The Global Pension Funds Market?
The pension funds market covered in this report is segmented –
1) By Type: Distributed Contribution, Distributed Benefit, Reserved Fund
2) By Application: Low Income Group, High Income Group
3) By End User: Government, Corporate, Individuals
Which Trends Are Expected To Transform The Pension Funds Market?
Companies in the pension funds sector are improving pension portability by introducing advanced pension tracing services, making it easier for individuals to locate and consolidate various pension plans accumulated throughout their careers. In April 2024, Aviva plc, a UK-based insurance firm, launched the UK’s first comprehensive "find and combine" service. This platform allows users to trace, verify, and merge multiple pension schemes into a single plan, ensuring better financial management. Utilizing cutting-edge tools, this service helps individuals maximize retirement benefits and maintain greater control over their financial futures.
What Is The Fastest Growing Region In The Pension Funds Market?
North America was the largest region in the pension funds market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pension funds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
