Statistics on Pension Funds: Q4 2023
14/03/2024 - Press Releases
- Total assets of pension funds increased by 5.5% to €2,158 million from €2,045 million in the previous quarter.
Total assets of compulsory and non-compulsory occupational pension funds[1] (‘pension funds’) increased by €113 million compared with the previous quarter and stood at €2,158 million in the fourth quarter of 2023.
In further detail, the overall deposits of pension funds decreased by €28 million to €64 million at the end of the fourth quarter of 2023. Deposits’ share in total assets decreased to 3.0% in the fourth quarter of 2023 compared with 4.5% in the previous quarter.
Total holdings of debt securities increased to €1,049 million in the fourth quarter of 2023 from €997 million in the previous quarter. This development is mainly due to the increase in the prices of other euro area countries and Greek government bonds. Debt securities’ share decreased to 48.6% of total assets at the end of the fourth quarter of 2023 compared with 48.8% in the previous quarter.
Total holdings of investment fund shares increased to €669 million compared to €609 million in the previous quarter. Their share in total assets increased to 31.0% compared with 29.8% in the previous quarter. The increase of these holdings is due to purchases and the increase in the prices of other euro area countries investment fund shares.
Equity holdings increased to €332 million in the fourth quarter of 2023 compared with €303 million in the previous quarter, due to purchases of foreign shares and the increase in their prices. The share of equity in total assets increased to 15.4% compared with 14.8% in the previous quarter.
Table 1: Balance Sheet of Pension Funds (EUR millions at the end of the period)
Table 2: Net flows of investments of Pension Funds (EUR millions)
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Related information:
The next Press Release on “Statistics on Pension Funds” for the first quarter of 2024 will be published on 14 June 2024, according to the Advance release calendar, as published on the Bank of Greece website.
[1] based on the Law 5078/2023 pension funds are distinguished into compulsory and non-compulsory occupational pension funds.