September 09, 2024 06:02 AM
The P&I/Thinking Ahead Institute World 300: Largest retirement funds
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Ranked by total assets, in millions. U.S. fund data is as of Sept. 30, 2023, from the P&I 1,000, published Feb. 12, 2024; non-U.S. fund data is as of Dec. 31, 2023, unless otherwise noted. Defined benefit and defined contribution breakouts were not available or applicable to all non-U.S. funds.
Rank | Fund | Country | Total assets | DB assets | DC assets |
---|---|---|---|---|---|
1 | Government Pension Investment | Japan | $1,593,141 | $1,593,141 | |
2 | Government Pension Fund | Norway | $1,584,524 | ||
3 | National Pension | South Korea | $801,864 | $801,864 | |
4 | Federal Retirement Thrift | U.S. | $782,835 | $782,835 | |
5 | ABP | Netherlands | $552,376 | $552,376 | |
6 | Canada Pension 1 | Canada | $477,676 | $477,676 | |
7 | California Public Employees | U.S. | $452,453 | $450,289 | $2,164 |
8 | Central Provident Fund | Singapore | $432,509 | $432,509 | |
9 | National Social Security 2 | China | $364,351 | ||
10 | California State Teachers | U.S. | $309,931 | $307,868 | $2,063 |
11 | PFZW | Netherlands | $262,261 | $262,261 | |
12 | New York City Retirement | U.S. | $247,999 | $247,999 | |
13 | Employees Provident Fund | Malaysia | $247,268 | $247,268 | |
14 | New York State Common | U.S. | $246,307 | $246,307 | |
15 | Local Government Officials | Japan | $226,803 | $226,803 | |
16 | AustralianSuper 3 | Australia | $204,631 | ||
17 | Florida State Board | U.S. | $194,659 | $180,466 | $14,193 |
18 | Ontario Teachers | Canada | $186,897 | $186,897 | |
19 | Texas Teachers | U.S. | $181,656 | $181,656 | |
20 | Labor Pension Fund | Taiwan | $176,267 | $35,606 | $140,661 |
21 | Employees’ Provident 2 | India | $176,246 | $176,246 | |
22 | Australian Retirement Trust 3 | Australia | $173,844 | ||
23 | Washington State Board | U.S. | $167,033 | $140,495 | $26,538 |
24 | Public Institute for Social Security 2 | Kuwait | $144,911 | ||
25 | Future Fund | Australia | $144,312 | ||
26 | Public Service Pension Plan 4 | Canada | $134,566 | ||
27 | Wisconsin Investment Board | U.S. | $130,932 | $124,565 | $6,367 |
28 | New York State Teachers | U.S. | $130,783 | $130,783 | |
29 | Alecta | Sweden | $126,614 | $126,614 | |
30 | North Carolina | U.S. | $126,472 | $111,796 | $14,676 |
31 | GEPF 4 | South Africa | $124,573 | $124,573 | |
32 | Bayerische Versorgungskammer 5 | Germany | $123,526 | $123,526 | |
33 | Boeing 2 | U.S. | $119,225 | $51,005 | $68,220 |
34 | California University | U.S. | $118,284 | $85,684 | $32,600 |
35 | ATP | Denmark | $112,611 | $112,611 | |
36 | Virginia Retirement | U.S. | $110,665 | $104,010 | $6,655 |
37 | Aware Super 3 | Australia | $109,927 | $109,927 | |
38 | Michigan Retirement | U.S. | $109,513 | $96,813 | $12,700 |
39 | PFA Pension | Denmark | $109,138 | $109,138 | |
40 | Ohio Public Employees | U.S. | $107,468 | $105,126 | $2,342 |
41 | Employees’ Pension Fund 2 | India | $102,968 | ||
42 | National Federation of Mutual Aid | Japan | $102,962 | $102,962 | |
43 | Oregon Public Employees | U.S. | $98,280 | $95,141 | $3,139 |
44 | Ontario Municipal Employees | Canada | $97,267 | $97,267 | |
45 | Pension Fund Association 1 | Japan | $96,244 | $96,244 | |
46 | Universities Superannuation 4 | U.K. | $95,998 | $93,038 | $2,960 |
47 | Massachusetts PRIM | U.S. | $95,241 | $95,241 | |
48 | Minnesota State Board | U.S. | $95,177 | $83,036 | $12,141 |
49 | AP Fonden 7 | Sweden | $94,755 | ||
50 | New Jersey Division of Investment | U.S. | $94,039 | $88,789 | $5,250 |
51 | Kaiser Permanente | U.S. | $91,551 | $56,919 | $34,632 |
52 | Metaal/tech. Bedrijven | Netherlands | $91,276 | $91,276 | |
53 | Georgia Teachers | U.S. | $91,088 | $91,088 | |
54 | AT&T 2 | U.S. | $90,497 | $45,605 | $44,892 |
55 | RTX | U.S. | $89,511 | $41,232 | $48,279 |
56 | Ohio State Teachers | U.S. | $87,456 | $84,946 | $2,510 |
57 | Healthcare of Ontario | Canada | $85,051 | $85,051 | |
58 | UniSuper 3 | Australia | $84,915 | ||
59 | Quebec Pension | Canada | $84,338 | $84,338 | |
60 | United Nations Joint Staff | U.S. | $81,546 | $81,546 | |
61 | Lockheed Martin 2 | U.S. | $76,842 | $25,443 | $51,399 |
62 | IBM | U.S. | $76,670 | $23,648 | $53,022 |
63 | General Electric 2 | U.S. | $74,410 | $47,782 | $26,628 |
64 | Tennessee Consolidated | U.S. | $74,373 | $63,291 | $11,082 |
65 | Danica Pension Group | Denmark | $73,632 | $73,632 | |
66 | General Motors 2 | U.S. | $73,439 | $45,916 | $27,523 |
67 | Los Angeles County Employees | U.S. | $72,167 | $72,167 | |
68 | United Parcel Service | U.S. | $71,931 | $40,251 | $31,680 |
69 | Bouwnijverheid | Netherlands | $71,872 | $71,872 | |
70 | KLP | Norway | $71,297 | ||
71 | National Public Service | Japan | $71,291 | $71,291 | |
72 | Keva | Finland | $69,723 | $69,723 | |
73 | Pennsylvania School Employees | U.S. | $69,072 | $68,862 | $210 |
74 | Afore XXI Banorte | Mexico | $68,826 | $68,826 | |
75 | Illinois Teachers | U.S. | $65,637 | $65,637 | |
76 | Bank of America | U.S. | $65,521 | $16,666 | $48,855 |
77 | Quebec Government & Public | Canada | $65,391 | $65,391 | |
78 | Varma | Finland | $65,216 | $65,216 | |
79 | Ilmarinen | Finland | $65,046 | $65,046 | |
80 | HOSTPLUS 3 | Australia | $64,078 | $64,078 | |
81 | Maryland State Retirement | U.S. | $63,269 | $63,269 | |
82 | Colorado Employees | U.S. | $63,017 | $57,550 | $5,467 |
83 | Afore Profuturo GNP | Mexico | $62,935 | $62,935 | |
84 | Northrop Grumman | U.S. | $62,427 | $28,988 | $33,439 |
85 | PME | Netherlands | $59,753 | $59,753 | |
86 | B.C. Municipal | Canada | $58,156 | $58,156 | |
87 | Cbus 3 | Australia | $56,984 | $56,984 | |
88 | Nevada Public Employees | U.S. | $56,247 | $56,247 | |
89 | Previ | Brazil | $56,139 | $56,139 | |
90 | Social Insurance Funds 2 | Vietnam | $56,057 | ||
91 | AMF Pension | Sweden | $56,034 | $56,034 | |
92 | Afore Citibanamex | Mexico | $55,293 | $55,293 | |
93 | J.P. Morgan Chase 2 | U.S. | $54,674 | $15,155 | $39,519 |
94 | Ford Motor 2 | U.S. | $54,659 | $32,889 | $21,770 |
95 | Afore Sura | Mexico | $54,621 | $54,621 | |
96 | Wells Fargo | U.S. | $54,550 | $8,784 | $45,766 |
97 | UBS | Switzerland | $54,404 | $54,404 | |
98 | Missouri Schools & Education | U.S. | $53,527 | $53,527 | |
99 | Teamsters, Western Conference | U.S. | $53,428 | $53,428 | |
100 | AFP Habitat | Chile | $52,219 | $52,219 | |
101 | Utah Retirement Systems | U.S. | $51,700 | $43,300 | $8,400 |
102 | HESTA 3 | Australia | $51,638 | $51,638 | |
103 | Rest Super 3 | Australia | $51,293 | $51,293 | |
104 | Arizona State Retirement | U.S. | $50,678 | $50,678 | |
105 | Connecticut Retirement | U.S. | $49,982 | $49,982 | |
106 | AP Fonden 3 | Sweden | $49,877 | ||
107 | FedEx 2 | U.S. | $49,307 | $24,826 | $24,481 |
108 | Illinois Municipal | U.S. | $48,922 | $48,922 | |
109 | AP Fonden 4 | Sweden | $48,792 | ||
110 | South Carolina Public Employees | U.S. | $48,683 | $39,879 | $8,804 |
111 | State Farm 2 | U.S. | $48,595 | $32,855 | $15,740 |
112 | Pensionskasse des Bundes | Switzerland | $48,162 | ||
113 | Porvenir | Colombia | $48,118 | $48,118 | |
114 | ERAFP | France | $47,799 | ||
115 | Alberta Local Authorities | Canada | $47,719 | $47,719 | |
116 | PensionDanmark | Denmark | $47,646 | $47,646 | |
117 | Natwest Group 6 | U.K. | $47,246 | $47,246 | |
118 | BVK des Kantons Zurich | Switzerland | $46,912 | $46,912 | |
119 | Organization for Workers | Japan | $46,322 | $46,322 | |
120 | Verizon | U.S. | $45,773 | $12,644 | $33,129 |
121 | Indiana Public Retirement | U.S. | $45,743 | $39,006 | $6,737 |
122 | Johnson & Johnson 2 | U.S. | $45,214 | $21,596 | $23,618 |
123 | BT Group 1 | U.K. | $45,098 | $45,098 | |
124 | AP Fonden 1 | Sweden | $44,748 | ||
125 | Alabama Retirement | U.S. | $44,169 | $41,733 | $2,436 |
126 | Texas County & District | U.S. | $43,779 | $43,779 | |
127 | Electricity Supply Pension 4 | U.K. | $43,434 | ||
128 | Retirement Fund-KWAP 2 | Malaysia | $43,142 | $43,142 | |
129 | Lloyds Banking Group 6 | U.K. | $42,945 | $42,945 | |
130 | Microsoft 2 | U.S. | $42,572 | $42,572 | |
131 | Teamsters, Central States 2 | U.S. | $42,147 | $42,147 | |
132 | AP Fonden 2 | Sweden | $41,824 | ||
133 | Delta Air Lines | U.S. | $41,792 | $14,783 | $27,009 |
134 | Sampension | Denmark | $41,721 | ||
135 | Railways Pensions 2 | U.K. | $41,421 | ||
136 | CSC 3 | Australia | $41,300 | $41,300 | |
137 | Iowa Public Employees | U.S. | $41,129 | $41,129 | |
138 | AFP Provida | Chile | $40,879 | $40,879 | |
139 | New Zealand Superannuation 3 | New Zealand | $40,274 | ||
140 | Texas Employees | U.S. | $40,039 | $35,567 | $4,472 |
141 | Walmart 2 | U.S. | $39,598 | $39,598 | |
142 | Vervoer | Netherlands | $39,517 | $39,517 | |
143 | VBL 2 | Germany | $39,442 | $39,442 | |
144 | Korean Teachers Credit Union | South Korea | $39,401 | $39,401 | |
145 | Alaska Retirement | U.S. | $39,225 | $30,616 | $8,609 |
146 | Social Security Funds for OASI | Switzerland | $38,966 | $38,966 | |
147 | Pennsylvania Employees | U.S. | $38,805 | $34,408 | $4,397 |
148 | Greater Manchester | U.K. | $38,665 | $38,665 | |
149 | Mivathim | Israel | $38,449 | $38,449 | |
150 | San Francisco City & County | U.S. | $38,097 | $33,546 | $4,551 |
151 | Government Pension | Thailand | $37,533 | $37,533 | |
152 | Federal Reserve Employees 2 | U.S. | $37,484 | $25,100 | $12,384 |
153 | BVV | Germany | $37,244 | $37,244 | |
154 | Texas Municipal Retirement | U.S. | $37,216 | $37,216 | |
155 | Public School Employees | Japan | $37,164 | $37,164 | |
156 | Strathclyde Pension Fund 4 | U.K. | $37,111 | $37,111 | |
157 | AFP Capital | Chile | $36,780 | $36,780 | |
158 | National Pension Association 2 | Japan | $36,578 | $36,578 | |
159 | Proteccion | Colombia | $36,460 | $36,460 | |
160 | Grafische Bedrijven | Netherlands | $35,325 | $35,325 | |
161 | Private Schools Employees | Japan | $34,937 | $34,937 | |
162 | Industriens Pension | Denmark | $34,810 | $34,810 | |
163 | Exxon Mobil 2 | U.S. | $34,706 | $11,861 | $22,845 |
164 | AFP Cuprum | Chile | $34,561 | $34,561 | |
165 | American Airlines | U.S. | $34,321 | $11,496 | $22,825 |
166 | New York State Deferred Comp. | U.S. | $33,890 | $33,890 | |
167 | Migros-Genossenschafts-Bund 6 | Switzerland | $33,554 | ||
168 | Nokia USA 2 | U.S. | $33,447 | $24,672 | $8,775 |
169 | Elo Mutual Pension Insurance | Finland | $33,169 | $33,169 | |
170 | Mississippi Employees | U.S. | $33,134 | $31,061 | $2,073 |
171 | FEFSS | Portugal | $32,930 | ||
172 | Rabobank | Netherlands | $32,740 | $347 | $32,393 |
173 | General Dynamics 2 | U.S. | $32,331 | $11,693 | $20,638 |
174 | B.C. Public Service 4 | Canada | $31,976 | $31,976 | |
175 | Chevron 2 | U.S. | $31,589 | $11,597 | $19,992 |
176 | CVS Health 2 | U.S. | $31,504 | $5,467 | $26,037 |
177 | ASGA | Switzerland | $31,475 | ||
178 | Honeywell | U.S. | $31,322 | $17,290 | $14,032 |
179 | Alphabet 2 | U.S. | $31,044 | $31,044 | |
180 | National Electric 2 | U.S. | $31,022 | $17,527 | $13,495 |
181 | Pfizer 2 | U.S. | $30,971 | $11,769 | $19,202 |
182 | Barclays Bank U.K. | U.K. | $30,852 | $30,852 | |
183 | ABN AMRO Pensioenfonds | Netherlands | $30,822 | $30,822 | |
184 | World Bank | U.S. | $30,799 | $30,799 | |
185 | PKA | Denmark | $30,577 | ||
186 | Shell (Netherlands) | Netherlands | $30,266 | $30,266 | |
187 | Procter & Gamble 2 | U.S. | $30,070 | $1,441 | $28,629 |
188 | Illinois State Board | U.S. | $29,568 | $24,376 | $5,192 |
189 | ING Pensioenfonds | Netherlands | $29,522 | $29,522 | |
190 | Government Service Insurance 2 | Philippines | $29,450 | ||
191 | Costco Wholesale | U.S. | $29,224 | $29,224 | |
192 | Los Angeles Fire & Police | U.S. | $28,980 | $28,980 | |
193 | B.C. Teachers | Canada | $28,664 | $28,664 | |
194 | Japan Police Personnel Mutual Aid | Japan | $28,575 | $28,575 | |
195 | Labor Insurance Fund | Taiwan | $28,545 | $28,545 | |
196 | ENPAM | Italy | $28,534 | ||
197 | State Super 3 | Australia | $28,509 | ||
198 | Caterpillar 2 | U.S. | $28,476 | $12,625 | $15,851 |
199 | United Airlines Holdings | U.S. | $28,300 | $3,100 | $25,200 |
200 | Citigroup | U.S. | $28,123 | $9,860 | $18,263 |
201 | Deloitte | U.S. | $27,790 | $7,457 | $20,333 |
202 | Intel | U.S. | $27,616 | $816 | $26,800 |
203 | New York City Deferred Comp. | U.S. | $27,552 | $27,552 | |
204 | Walt Disney | U.S. | $27,500 | $15,400 | $12,100 |
205 | Louisiana Teachers | U.S. | $27,348 | $24,551 | $2,797 |
206 | Public Service Pension Fund 2 | Taiwan | $26,980 | $26,980 | |
207 | BAE Systems | U.K. | $26,959 | $26,959 | |
208 | West Midlands Metropolitan 4 | U.K. | $26,766 | $26,766 | |
209 | GESB 3 | Australia | $26,741 | $26,741 | |
210 | Stellantis NA 2 | U.S. | $26,739 | $17,724 | $9,015 |
211 | Fonds de Comp./Securite Sociale | Luxembourg | $26,709 | ||
212 | HSBC Bank | U.K. | $26,590 | $26,590 | |
213 | Afore Coppel | Mexico | $26,456 | $26,456 | |
214 | 3M 2 | U.S. | $26,331 | $14,365 | $11,966 |
215 | Spoorwegpensioenfonds | Netherlands | $26,290 | $26,290 | |
216 | Illinois State Universities | U.S. | $26,288 | $22,634 | $3,654 |
217 | Kansas Public Employees | U.S. | $26,169 | $24,793 | $1,376 |
218 | Dow 2 | U.S. | $26,079 | $16,080 | $9,999 |
219 | BP | U.K. | $26,046 | $26,046 | |
220 | British Airways | U.K. | $25,476 | $25,044 | $432 |
221 | CommonSpirit Health | U.S. | $25,434 | $8,534 | $16,900 |
222 | CPEG | Switzerland | $25,361 | ||
223 | Mitsubishi UFJ Financial 1 | Japan | $25,241 | ||
224 | Shell USA 2 | U.S. | $25,191 | $14,974 | $10,217 |
225 | State Pension | Finland | $25,172 | $25,172 | |
226 | Ernst & Young | U.S. | $24,980 | $8,312 | $16,668 |
227 | PepsiCo 2 | U.S. | $24,801 | $11,838 | $12,963 |
228 | Ontario Pension Board 2 | Canada | $24,771 | $24,771 | |
229 | Abbott Laboratories 2 | U.S. | $24,754 | $10,430 | $14,324 |
230 | British Coal Pension Schemes 4 | U.K. | $24,750 | $24,750 | |
231 | FMR 2 | U.S. | $24,658 | $24,658 | |
232 | SUNY | U.S. | $24,643 | $24,643 | |
233 | PG&E 2 | U.S. | $24,582 | $16,739 | $7,843 |
234 | ESSSuper 3 | Australia | $24,556 | ||
235 | Canada Post | Canada | $24,544 | $24,544 | |
236 | City of Zurich | Switzerland | $24,510 | ||
237 | Petros | Brazil | $24,383 | $24,383 | |
238 | National Railroad 2 | U.S. | $24,310 | $24,300 | $10 |
239 | Super SA 3 | Australia | $24,270 | $24,270 | |
240 | Southern Co. 2 | U.S. | $23,502 | $15,157 | $8,345 |
241 | Afore PensionISSSTE | Mexico | $23,500 | $23,500 | |
242 | Oracle 2 | U.S. | $23,475 | $23,475 | |
243 | FRR | France | $23,403 | ||
244 | Deere 2 | U.S. | $23,393 | $13,243 | $10,150 |
245 | Quebec Construction Industry | Canada | $23,392 | ||
246 | Operating Engineers International | U.S. | $23,193 | $23,193 | |
247 | Kentucky Teachers | U.S. | $23,191 | $23,191 | |
248 | Idaho Public Employees | U.S. | $22,961 | $21,523 | $1,438 |
249 | West Yorkshire 4 | U.K. | $22,882 | $22,882 | |
250 | Daimler | Germany | $22,791 | $22,791 | |
251 | Hydro-Quebec | Canada | $22,612 | $22,612 | |
252 | Prudential Financial | U.S. | $22,517 | $12,388 | $10,129 |
253 | Magistrenes Pensionskasse | Denmark | $22,411 | $22,411 | |
254 | Truist Financial 2 | U.S. | $22,375 | $12,744 | $9,631 |
255 | Shell UK | U.K. | $22,320 | $22,320 | |
256 | Sammons Enterprises 2 | U.S. | $22,319 | $22,319 | |
257 | Hawaii Employees | U.S. | $22,189 | $22,189 | |
258 | National Rural Electric | U.S. | $22,163 | $8,566 | $13,597 |
259 | Ascension | U.S. | $21,944 | $6,939 | $15,005 |
260 | FUNCEF | Brazil | $21,828 | $21,828 | |
261 | EquipSuper 3 | Australia | $21,820 | ||
262 | Mass General Brigham 2 | U.S. | $21,790 | $9,241 | $12,549 |
263 | Nestle 6 | Switzerland | $21,734 | $21,734 | |
264 | Merck | U.S. | $21,526 | $8,722 | $12,804 |
265 | Los Angeles City Employees | U.S. | $21,436 | $21,436 | |
266 | SBB Pensionskasse | Switzerland | $21,285 | $21,285 | |
267 | L3Harris Technologies 2 | U.S. | $21,220 | $7,401 | $13,819 |
268 | Mayo Clinic 2 | U.S. | $21,068 | $10,574 | $10,494 |
269 | Orange County | U.S. | $21,046 | $21,046 | |
270 | Eli Lilly | U.S. | $20,950 | $10,322 | $10,628 |
271 | Brighter Super 3 | Australia | $20,886 | ||
272 | Arkansas Teachers | U.S. | $20,745 | $20,745 | |
273 | Nebraska Investment Council | U.S. | $20,705 | $19,818 | $887 |
274 | Georgia Employees | U.S. | $20,631 | $17,934 | $2,697 |
275 | Credit Suisse | Switzerland | $20,551 | ||
276 | Arizona Public Safety | U.S. | $20,540 | $19,808 | $732 |
277 | Hoffmann La Roche 6 | Switzerland | $20,303 | $20,303 | |
278 | Laegernes Pensionskasse | Denmark | $20,211 | ||
279 | Oklahoma Teachers | U.S. | $20,084 | $20,084 | |
280 | HCA Healthcare 2 | U.S. | $20,056 | $20,056 | |
281 | Consolidated Edison 2 | U.S. | $20,002 | $14,688 | $5,314 |
282 | UnitedHealth 2 | U.S. | $19,991 | $19,991 | |
283 | New York City MTA | U.S. | $19,863 | $10,937 | $8,926 |
284 | Afore Principal | Mexico | $19,756 | $19,756 | |
285 | California Savings Plus | U.S. | $19,700 | $19,700 | |
286 | PK Post | Switzerland | $19,406 | ||
287 | BWVA | Germany | $19,285 | $19,285 | |
288 | Providence Health | U.S. | $19,196 | $1,463 | $17,733 |
289 | West Virginia Investment | U.S. | $19,185 | $19,185 | |
290 | Wespath (UMC) | U.S. | $19,156 | $8,406 | $10,750 |
291 | Publix Super Markets 2 | U.S. | $19,108 | $19,108 | |
292 | Amazon.com 2 | U.S. | $19,049 | $19,049 | |
293 | Los Angeles Water & Power | U.S. | $19,026 | $19,026 | |
294 | Cassa Forense | Italy | $18,990 | ||
295 | OPSEU | Canada | $18,983 | $18,983 | |
296 | Spirit Super 3 | Australia | $18,919 | ||
297 | POBA | South Korea | $18,822 | $18,822 | |
298 | Morgan Stanley | U.S. | $18,781 | $1,894 | $16,887 |
299 | Ohio Deferred Compensation | U.S. | $18,665 | $18,665 | |
300 | Bernische Pensionskasse | Switzerland | $18,658 | ||
Total | $22,643,746 | $12,895,276 | $5,591,645 |
Notes:1 As of March 31, 2024;2 Estimate;3 As of June 30, 2023;4 As of March 31, 2023;5 As of Jan. 31;6 Global figure.
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