According to the Organisation for Economic Co-operation and Development (OECD), assets in pension funds continued to grow throughout 2020, growing by 11% from the end of 2019 to a reported USD56 trillion as of the end of 2020.
Two years have elapsed since the first reported outbreak of Covid-19. According to the Organisation for Economic Co-operation and Development (OECD), assets in pension funds continued to grow throughout 2020, growing by 11% from the end of 2019 to a reported USD56 trillion as of the end of 2020. Pension fund assets for OECD countries rose to just over USD54 trillion in 2020. With an initial drop in the first quarter of 2020, global equity markets recovered during the remainder of 2020. Among OECD countries, the US remains an outsized market, with assets in pension funds and all retirement vehicles at the end of 2020 at USD35.5 trillion. The UK is the second-largest pensions market, at USD3.6 trillion.
The latest Bright Africa Pensions research highlights the measures required to improve future pension coverage for economically active Africans.
learn moreWhere pensions systems exist across most of Africa, they do so against a backdrop of elevated levels of informality in labour markets. The result is that the pension contributions outside of the public sector are intermittent and relatively low.
learn moreThe standard narrative across the continent is of a small percentage of the population in formal employment for whom social security is possible.
learn moreAfrica can leverage its high mobile telephony penetration and digital adoption to tackle a foundational challenge to improved provision of social protection: enrollment.
learn moreAccording to the Organisation for Economic Co-operation and Development (OECD), assets in pension funds continued to grow throughout 2020, growing by 11% from the end of 2019 to a reported USD56 trillion as of the end of 2020.
learn morePension savings on the continent are growing, but this growth can be accelerated through paradigm shifts around pension policy, regulation, incentives and mediums to enable greater participation rates.
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