Funded and private pensions

Annual Survey of Large Pension Funds and Public Pension Reserve Funds


Annual Survey of Large Pension Funds and public pension reserve funds

Date of publication
12 November 2021










Report on pension funds’ long-term investments


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12/11/2021 - G20 leaders have identified the facilitation of long-term financing through the capital markets as a priority for helping to achieve targets for investment, growth and employment. This survey sheds light on the role that large institutional investors can play in providing a source of stable long-term capital.

This survey report is the eighth since the data collection exercise was first established in 2011. The scope of this report covers 100 public and private pension funds from 40 countries. Brazil, India, Indonesia, Nigeria, Mozambique, Peru, the Russian Federation, and South Africa are amongst the non-OECD countries included in the survey report.

The survey monitors and compares the investment behaviour, asset levels, and performances of the largest institutional investors in each region or country covered and analyses in greater depth the general trends observed at a national level. This survey is based on a qualitative and quantitative questionnaire sent directly to large pension funds (LPFs) and public pension reserve funds (PPRFs). This edition includes:

  • a summary of key trends observed in the investment portfolios of LPFs and PPRFs

  • an in-depth analysis of LPFs and PPRFs

  • an analysis of infrastructure investment by LPFs and PPRFs

  • an analysis of green investment and social impact investment by LPFs and PPRFs


It is part of the OECD Project on Institutional Investors and Long-term Investment. The insights and detailed investment information collected complement the administrative data gathered through the Global Pension Statistics Project and the Global Insurance Market Trends Project.


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Environmental, social and governance (ESG) investing

Sustainable Infrastructure Policy Initiative

Investment governance and the integration of ESG factors (2017)

Investing in Climate, Investing in Growth (2017)

G20/OECD High-Level Principles on Long-Term Investment Financing by Institutional Investors

G20-OECD work on long-term financing

OECD Centre on Green Finance and Investment

Trends in Large Pension Fund Investment in Infrastructure (2012)

Global Pension Statistics Project

Global Insurance Market Trends Project

International Organisation of Pension Supervisors (IOPS)




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