The global pension fund sector in 2024 operated at the intersection of long-term responsibility and short-term economic pressures. High inflation, volatile markets, and shifting demographic trends challenged funds to deliver steady returns while maintaining intergenerational equity.

According to a report by Mercer, pension funds globally have been rebalancing their portfolios to reduce exposure to underperforming assets and increase resilience in the face of economic shocks. A major theme this year was the acceleration of sustainable investing.

The PRI reported that over 90 percent of signatories now incorporate ESG factors into investment analysis and decision-making. At the same time, regulatory expectations have grown more complex. Funds are under pressure to improve transparency, address climate risk disclosures, and demonstrate alignment with international sustainability goals.

Technology, too, is transforming how funds manage risk, communicate with beneficiaries, and track performance. Despite these challenges, this year’s winners of the World Finance Pension Fund Awards 2025 have demonstrated outstanding leadership in the sector.

 

Best Pension Funds in 2025, by country

Australia
Unisuper

Austria
VAPK Pensionakasse

Azerbaijan
State Social Protection Fund of Azerbaijan

Belgium
Anheuser-Busch InBev Nv

Bolivia
BISA Seguros y Reaseguros

Brazil
Bradesco Seguros

Canada
Public Service Pension Plan (Federal)

Caribbean
Scotia Investments Jamaica

Chile
AFP Capital (SURA Asset Management)

Colombia
Grupo Sura

Croatia
PBZ Croatia Osiguranje

Czech Republic
CSOB

Denmark
Danica Pension

Estonia
Swedbank

Finland
IImarinen

France
AG2R La Mondiale

Germany
Bosch Pensionsfonds

Ghana
Pensions Alliance Trust

Greece
Piraeus Asset Management

Iceland
Lifeyrissjoour Verzlunarmanna

Indonesia
BNI

Italy
Arca Fondi SRG

Jamaica
Scotia Investments Jamaica

Macedonia
Sava Penzisko

Malaysia
Gibraltar BSN

Mexico
Afore XXI Banorte

Netherlands
PGGM

Nigeria
Fidelity Pension Managers

Norway
Oslo Pensjonforsikring

Peru
AFP Habitat

Poland
PKO BP Bankowy

Portugal
BPI Vida e Pensoes

Serbia
Dunav Voluntary Pension Fund

South Africa
Sentinel Retirement Fund

Spain
VidaCaixa

Sweden
KPA Pension

Switzerland
Publica

Thailand
Kasikorn Asset Management

Turkey
TEB Asset Management

US
NYC Board of Education Pension Fund