A Fellow of the Labor and Worklife Program at Harvard Law School, Dr. Allan Wain is a researcher focused on the relationship between pension funds and market behavior. Dr. Allan Wain has written and co-authored several essays investigating pension fund infrastructure both in the United States and internationally.
Combined, the world’s pension systems can be valued in the trillions. According to a recent report, the largest pension fund on Earth is located in Japan. Known as the Government Pension Investment Fund (GPIF), the organization behind the pension system manages over $1 trillion in assets. The GPIF differs from other pension funds of its kind in that it does not directly invest in stocks. However, this may change pending legislation favored by Japanese Prime Minister Shinzo Abe, who has stated he hopes to reform the GPIF to fall in line with its counterparts on the world stage.
The runner-up to the GPIF, Norway’s Government Pension Fund, oversees approximately $884 billion in assets. South Korea’s National Pension, which is about half the size of Norway’s fund, comes in third internationally with roughly $430 billion in assets.
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