March 2026
06Mar

Estimated funded status of 100 largest U.S. DB pension plans reaches 84.7%: report

The funded status of the 100 largest U.S. defined benefit pension plans is projected to have reached 84.7 per cent as of Nov. 30, 2025, according to a new report by Milliman Inc. It noted the last time these plans reached similar heights was in December 2021, when the funded ratio reached 85.5 per cent, a high-water mark in the nearly 14-year history of the report. The report also found aggregate assets reached US$5.05 trillion and total pension liability was $6.50...

March 6, 2026
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February 2026
18Feb

Pension Funding Ratios Build on 2025 Gains in January

Pension finances started 2026 strong, as the funded status of the largest 100 corporate defined benefit plans rose to 109% in January from 108.1% at year-end 2025, according to Milliman’s Pension Funding Index. January’s rise built on gains made in the last three quarters of 2025. Milliman’s PFI showed funding dipped to its lowest point of last year in March 2025 (102.7%) before increasing for 10 consecutive months to reach its current level. Both model plans tracked by October Three Consulting...

February 18, 2026
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January 2026
09Jan

Pension Economics

By Torben M Andersen A coherent introduction to the economics of pensions is provided to give the reader insights in the many objectives addressed by pension systems and the design possibilities available. The text offers an in-depth overview of the literature and its main insights and conclusions with sufficient rigor to understand the basic mechanisms, but without excessive technical details, focusing on the intuition and implications of the results. The pros and cons of different pension schemes are discussed from...

January 9, 2026
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07Jan

Funded status of largest US corporate pension plans now well over 100% for year-end 2025

The funded status of the nation’s largest corporate defined benefit (DB) pension plans improved significantly in 2025, according to an analysis by WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company. WTW examined pension plan data for 349 Fortune 1000 companies that sponsor U.S. DB pension plans and have a December fiscal year-end date. The aggregate pension funded status of these plans at the end of 2025 is estimated to be 104%, an increase from 101% at the...

January 7, 2026
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05Jan

Equable Institute Analysis: U.S. Public Pension Funds Close 2025 with Strong Returns

Equable Institute released a year-end update to its State of Pensions 2025 report. The analysis finds the aggregate funded ratio for U.S. state and local retirement systems are on track to improve from 78.0% in 2024 to 82.5% in 2025, based on data available through December 31st, 2025. Equable Institute estimates that unfunded liabilities will total $1.27 trillion for the 2025 fiscal year, compared to $1.54 trillion at the end of 2024. Strong market performance and record high contribution rates...

January 5, 2026
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December 2025
19Dec

European Financial Ecosystems. Comparing France, Sweden, UK and Italy.

By Stefano Caselli & Marta Zava The study examines the structure, functioning, and strategic implications of financial ecosystems across four European countries-France, Sweden, the United Kingdom, and Italy-to identify institutional best practices relevant to the ongoing transformation of Italy's financial system. Building on a comparative analysis of legislation and regulation, taxation, investor bases, and financial intermediation, the report highlights how distinct historical and institutional trajectories have shaped divergent models: the French dirigiste system anchored by powerful state-backed institutions and deep...

December 19, 2025
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16Dec

November Delivers Mixed Results for Pension Finances

Pension finances experienced a modest pullback in November, marking the first negative month since March, according to October Three Consulting’s “November Pension Finance Update.” Meanwhile, some measures reported a small increase in funding levels over the same period. Both model plans October Three tracks lost ground last month. Plan A, a traditional 60/40 equity/bond allocation, lost almost 1%, ending November up 6% for the year. The more conservative Plan B, comprised of 80% bonds, lost a fraction of 1% last...

December 16, 2025
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11Dec

Brazil. The pension deficit is no longer a distant issue but is now a national concern, raising the question that will define the future of a generation: will it still be possible to retire?

Pension system pressured by growing deficit, demographic changes and uncertainties about future payment capacity. The situation of the Brazilian social security system is no longer addressed solely in technical reports; it has become a key point in public debate, precisely because official data shows that the system operates under continuous structural pressure. With each new release, the perception grows that demographic, financial, and administrative challenges are accumulating rapidly. Furthermore, experts say that the pressure tends to intensify, as the country ages...

December 11, 2025
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November 2025
28Nov

Pensions at a Glance 2025: OECD and G20 Indicators

By Organisation for Economic Co-operation and Development The 2025 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. It includes a special chapter focusing on pension differences between men and women. It shows recent and projected trends in the pensions of women relative to those of men in OECD countries, analyses the key drivers of the gender pension gap, and reviews the pension rules that directly or indirectly affect gender disparities in...

November 28, 2025
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28Nov

Financial sustainability for the expansion of non-contributory pension systems and the eradication of old-age poverty

By Alberto Arenas de Mesa, Ernesto Espíndola & Juan Ignacio Vila Income protection is a substantive factor and a priority of social protection systems in Latin America and the Caribbean, in particular at either end of the life cycle (i.e. childhood and old age). This is due to the greater vulnerability and lower earning capacity of these population segments compared with other age groups, among other factors (Santos Garcia, Farías and Robles, 2023). In these circumstances, pension systems, in particular...

November 28, 2025
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