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September 02, 2013 01:00 AM

P&I/Towers Watson World 300: The largest retirement funds

Ranked by U.S. dollars, in millions. U.S. fund data are from the P&I 1,000, published Feb. 4, 2013; non-U.S. fund data are as of Dec. 31, 2012, unless otherwise noted.

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    RankFundCountryTotal assets
    1Government Pension InvestmentJapan$1,292,003
    2Government Pension FundNorway$712,606
    3ABPNetherlands$372,860
    4National PensionSouth Korea$368,450
    5Federal Retirement ThriftU.S.$325,682
    6California Public EmployeesU.S.$244,754
    7Local Government Officials1Japan$201,443
    8Central Provident FundSingapore$188,430
    9Canada Pension1Canada$184,425
    10National Social SecurityChina$177,486
    11PFZW1Netherlands$177,311
    12Employees Provident FundMalaysia$175,720
    13California State TeachersU.S.$155,739
    14New York State CommonU.S.$150,110
    15Florida State BoardU.S.$134,345
    16New York City RetirementU.S.$132,071
    17Ontario TeachersCanada$130,198
    18ATPDenmark$129,009
    19GEPF2South Africa$122,225
    20Pension Fund AssociationJapan$119,199
    21General MotorsU.S.$117,812
    22Texas TeachersU.S.$112,443
    23IBMU.S.$93,985
    24National Public ServiceJapan$93,149
    25BoeingU.S.$91,406
    26New York State TeachersU.S.$88,561
    27National Wealth FundRussia$88,064
    28Wisconsin Investment BoardU.S.$86,399
    29Future FundAustralia$85,546
    30AlectaSweden$83,989
    31North CarolinaU.S.$83,976
    32Fondo de Reserva SeguridadSpain$81,857
    33PreviBrazil$81,160
    34AT&TU.S.$81,024
    35Ohio Public EmployeesU.S.$79,615
    36New JerseyU.S.$74,754
    37Bayerische VersorgungskammerGermany$73,111
    38Washington State BoardU.S.$70,265
    39Employees' Provident2India$68,138
    40Public School EmployeesJapan$67,976
    41BT Group1U.K.$67,511
    42General ElectricU.S.$67,155
    43Ohio State TeachersU.S.$65,485
    44Royal Dutch Shell3Netherlands$62,764
    45Metaal/tech. BedrijvenNetherlands$61,953
    46Ontario Municipal EmployeesCanada$61,083
    47Oregon Public EmployeesU.S.$60,989
    48Universities SuperannuationU.K.$58,471
    49PFA PensionDenmark$57,264
    50Virginia RetirementU.S.$56,867
    51BouwnijverheidNetherlands$56,734
    52Michigan RetirementU.S.$55,834
    53California UniversityU.S.$55,755
    54AustralianSuperAustralia$55,354
    55Georgia TeachersU.S.$55,348
    56Organization for WorkersJapan$54,788
    57Lockheed MartinU.S.$53,725
    58Labor Pension FundTaiwan$53,099
    59Public Institute for Social Security1Kuwait$53,036
    60Minnesota State BoardU.S.$52,873
    61Ford MotorU.S.$51,654
    62AMF PensionSweden$51,428
    63Massachusetts PRIMU.S.$50,725
    64Electricity Supply Pension4U.K.$50,642
    65VerizonU.S.$49,829
    66Lloyds TSB Group5U.K.$49,322
    67Pennsylvania School Empl.U.S.$49,050
    68FRR1France$48,301
    69Healthcare of OntarioCanada$47,661
    70Public Service Pension Plan2Canada$47,389
    71AFP ProvidaChile$45,703
    72Quebec Government & PublicCanada$45,597
    73VarmaFinland$45,406
    74KevaFinland$44,247
    75United Nations Joint StaffU.S.$43,769
    76PME4Netherlands$43,160
    77Royal Bank of Scotland Group5U.K.$42,830
    78Colorado EmployeesU.S.$42,502
    79Afore XXI Banorte6Mexico$42,038
    80QSuperAustralia$41,958
    81AFP HabitatChile$41,795
    82Alcatel-LucentU.S.$40,961
    83United TechnologiesU.S.$40,719
    84Tennessee ConsolidatedU.S.$40,652
    85Private Schools EmployeesJapan$40,611
    86Los Angeles County Empl.U.S.$39,832
    87Quebec PensionCanada$39,685
    88Bank of AmericaU.S.$38,998
    89IlmarinenFinland$38,958
    90Northrop GrummanU.S.$38,834
    91Maryland State RetirementU.S.$38,474
    92Bundes PensionskasseSwitzerland$38,319
    93United Parcel ServiceU.S.$37,865
    94First State SuperAustralia$37,484
    95Illinois TeachersU.S.$37,470
    96State SuperAustralia$37,238
    97Barclays Bank U.K.U.K.$37,105
    98AP Fonden 3Sweden$36,746
    99AP Fonden 2Sweden$36,403
    100AP Fonden 1Sweden$35,561
    101Exxon MobilU.S.$35,130
    102AFP CapitalChile$34,822
    103AP Fonden 4Sweden$34,767
    104UniSuperAustralia$34,472
    105British Coal Pension Schemes4U.K.$34,114
    106Wells FargoU.S.$33,884
    107AFP CuprumChile$33,246
    108Sampension7Denmark$33,074
    109PetrosBrazil$32,571
    110B.C. Municipal7Canada$31,224
    111Teamsters, Western Conf.U.S.$31,028
    112BVVGermany$30,757
    113Railways PensionsU.K.$30,694
    114ING St. Psf.5Netherlands$30,180
    115Alabama RetirementU.S.$29,666
    116HSBC BankU.K.$29,092
    117Retirement Fund-KWAPMalaysia$29,059
    118National Pension AssociationJapan$28,843
    119KaiserU.S.$28,790
    120British AirwaysU.K.$28,516
    121Missouri Public SchoolsU.S.$28,430
    122Arizona State RetirementU.S.$28,417
    123RaytheonU.S.$28,354
    124National Grid1U.K.$28,248
    125Pennsylvania EmployeesU.S.$27,640
    126CSCAustralia$27,505
    127Hewlett-PackardU.S.$27,484
    128Illinois MunicipalU.S.$27,448
    129ChevronU.S.$27,366
    130FedExU.S.$27,354
    131BPU.K.$27,346
    132BAE SystemsU.K.$26,980
    133Nevada Public EmployeesU.S.$26,895
    134South Carolina RetirementU.S.$26,755
    135J.P. Morgan ChaseU.S.$26,538
    136Afore Banamex 6Mexico$26,523
    137Indiana Public RetirementU.S.$26,265
    138ZilverfondBelgium$25,304
    139Utah State RetirementU.S.$25,296
    140Mitsubishi UFJ Financial1Japan$25,282
    141FUNCEFBrazil$25,253
    142RESTAustralia$25,219
    143Chrysler GroupU.S.$25,139
    144HoneywellU.S.$24,912
    145Connecticut RetirementU.S.$24,793
    146DuPontU.S.$24,735
    147Texas EmployeesU.S.$24,683
    148BVK des Kantons ZurichSwitzerland$24,499
    149Nippon Telegraph & Telephone1Japan$24,338
    150PensionDanmarkDenmark$24,302
    151State FarmU.S.$24,298
    152RabobankNetherlands$24,024
    153UBSSwitzerland$23,818
    154National RailroadU.S.$23,641
    155Unilever5U.K.$23,323
    156Iowa Public EmployeesU.S.$23,244
    157Local Authorities Pension BoardCanada$22,981
    158ABN AMRONetherlands$22,806
    159Nestle5Switzerland$22,597
    160HestaAustralia$22,479
    161SunsuperAustralia$22,418
    162Mississippi EmployeesU.S.$22,369
    163PfizerU.S.$22,159
    164BASF5Germany$22,090
    1653MU.S.$22,010
    166VBL8Germany$21,643
    167CbusAustralia$21,465
    168Panasonic1Japan$21,269
    169Industriens PensionDenmark$21,241
    170CitigroupU.S.$21,220
    171Afore Sura6Mexico$21,130
    172Strathclyde Pension Fund1U.K.$21,080
    173Alaska RetirementU.S.$21,013
    174AkzoNobel5U.K.$20,294
    175Novartis5Switzerland$20,282
    176State PensionFinland$20,269
    177Texas Municipal RetirementU.S.$20,108
    178Migros-Genossenschafts-BundSwitzerland$20,104
    179PhillipsNetherlands$20,063
    180National Pensions Reserve2Ireland$20,059
    181Johnson & JohnsonU.S.$19,709
    182Aviva OFEPoland$19,696
    183B.C. Public Service2Canada$19,542
    184PorvenirColombia$19,534
    185British Steel Pension Scheme1U.K.$19,478
    186Shell OilU.S.$19,472
    187American AirlinesU.S.$19,410
    188Texas County & DistrictU.S.$19,260
    189Delta Air LinesU.S.$19,135
    190PrudentialU.S.$18,979
    191AvivaU.K.$18,917
    192ExelonU.S.$18,841
    193Greater ManchesterU.K.$18,789
    194ESSSuperAustralia$18,658
    195Government PensionThailand$18,547
    196AP Fonden 7Sweden$18,468
    197B.C. TeachersCanada$18,443
    198Siemens9Germany$18,418
    199Afore Profuturo GNP6Mexico$18,154
    200United Methodist ChurchU.S.$18,148
    201San Francisco City & CountyU.S.$18,127
    202Teamsters, Central StatesU.S.$18,022
    203CaterpillarU.S.$17,988
    204Deutsche Bank5Germany$17,951
    205Public Service Pension FundTaiwan$17,882
    206Bell CanadaCanada$17,819
    207Dow ChemicalU.S.$17,748
    208ProtecciónColombia$17,652
    209Mizuho Financial Group1Japan$17,462
    210CenturyLinkU.S.$17,247
    211Wal-Mart StoresU.S.$17,223
    212Zenkoku Shinyo Kinko1Japan$17,153
    213Grafische Bedrijven4Netherlands$17,097
    214Ontario Pension BoardCanada$17,088
    215Government Service Insurance9Philippines$16,887
    216Canada PostCanada$16,867
    217Telmex4Mexico$16,816
    218PG&EU.S.$16,800
    219Labor Insurance FundTaiwan$16,685
    220BBC1U.K.$16,568
    221Hydro-QuebecCanada$16,499
    222Hitachi1Japan$16,365
    223Zurich Financial Services5Switzerland$16,268
    224SpoorwegpensioenfondsNetherlands$16,236
    225GlaxoSmithKlineU.K.$16,211
    226PepsiCoU.S.$16,200
    227SBB PensionskasseSwitzerland$16,156
    228DaimlerGermany$16,025
    229Rolls-RoyceU.K.$15,907
    230Canadian National RailwaysCanada$15,893
    231Verboer6Netherlands$15,836
    232PK PostSwitzerland$15,785
    233MerckU.S.$15,752
    234Credit SuisseSwitzerland$15,751
    235Super SAAustralia$15,741
    236Magistrenes PensionskasseDenmark$15,580
    237General DynamicsU.S.$15,421
    238Laegernes PensionskasseDenmark$15,340
    239Kentucky TeachersU.S.$15,278
    240Federal Reserve EmployeesU.S.$15,227
    241Los Angeles Fire & PoliceU.S.$15,219
    242Illinois State UniversitiesU.S.$15,195
    243World BankU.S.$15,162
    244City of ZurichSwitzerland$15,146
    245BP AmericaU.S.$15,115
    246Illinois State BoardU.S.$15,090
    247GESBAustralia$15,055
    248ConocoPhillipsU.S.$14,856
    249Procter & GambleU.S.$14,842
    250SygeplejerskerDenmark$14,808
    251Allianz5Germany$14,789
    252OPSEUCanada$14,781
    253Georgia EmployeesU.S.$14,753
    254West Midlands MetropolitanU.K.$14,696
    255National ElectricU.S.$14,675
    256Quebec Construction IndustryCanada$14,551
    257FEFSSPortugal$14,443
    258DeereU.S.$14,342
    259West Yorkshire2U.K.$14,268
    260Baden-WurttembergischeGermany$14,230
    261Nordrheinische Ärzteversorgung 4Germany$14,229
    262New York State Def. Comp.U.S.$13,934
    263MetLifeU.S.$13,865
    264Louisiana TeachersU.S.$13,852
    265RWEGermany$13,677
    266Fonds de Comp./Securite SocialeLuxembourg$13,620
    267Teachers' Pension4South Korea$13,564
    268Duke EnergyU.S.$13,539
    269Kansas Public EmployeesU.S.$13,533
    270United Continental HoldingsU.S.$13,518
    271International PaperU.S.$13,409
    272Air CanadaCanada$13,322
    273Tapiola Mutual Pension Ins.Finland$13,291
    274Telstra SuperAustralia$13,130
    275New Zealand Superannuation7New Zealand$13,078
    276Kraft FoodsU.S.$12,844
    277New Mexico Public Empl.U.S.$12,713
    278Eastman KodakU.S.$12,705
    279Toyota Motor1Japan$12,585
    280Abbott LaboratoriesU.S.$12,462
    281Ohio Police & FireU.S.$12,427
    282Idaho Public EmployeesU.S.$12,413
    283Southern Co.U.S.$12,384
    284NPF GazfondRussia$12,365
    285Fujitsu1Japan$12,334
    286Hoffman La Roche5Switzerland$12,261
    287Banco Santander (U.K.)U.K.$12,133
    288Consolidated EdisonU.S.$12,114
    289Prima10Peru$12,085
    290Siemens (USA)U.S.$11,974
    291Sumitomo Mitsui Financial Group1Japan$11,960
    292New York City Def. Comp.U.S.$11,742
    293Hawaii EmployeesU.S.$11,739
    294OFE PZUPoland$11,734
    295Tesco1U.K.$11,704
    296Integra10Peru$11,615
    297Operating Eng. InternationalU.S.$11,591
    298AerzteVersorgung Westfalen LippeGermany$11,540
    299AlcoaU.S.$11,520
    300Walt DisneyU.S.$11,488
     Total$13,995,194
    Notes: 1 As of March 31, 2013;

    2 As of March 31, 2012;

    3 Global figure (ex-U.S.);

    4 Estimate;

    5 Global figure;

    6 As of May 31, 2013;

    7 As of June 30, 2012;

    8 As of Nov. 30, 2012;

    9 As of Sept. 30, 2012;

    10 As of April 30, 2013.

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