New Insights from Irish Pension Fund Statistics

This article provides a detailed overview of the new statistical dataset on occupational pension funds collected by the Central Bank of Ireland. It highlights the growing importance of the sector with new insights on the structure of assets, liabilities, and changes in pension fund membership. In contrast to the Euro area, a small number of large pension funds account for most direct investment, with the significant number of remaining small funds relying heavily on unit linked insurance products and investment funds to diversify their holdings. Membership of defined benefit schemes is declining while it is increasing for defined contribution schemes, resulting in a shift in risk from the corporate sector to households. The sector has grown by 6.2 per cent since 2019, with total assets amounting to €127.5 billion at end-March 2021, equivalent to 60 per cent of GNI*. However, the €8.6 billion deficit between Irish occupational pension funds’ assets and liabilities warrants further analysis.