Pension Fees in the Netherlands, United States, Poland, and Canada

This project investigates pension fees in the Netherlands, Poland, Canada, and the United States, focusing on the determinants of low fees. The level of pension fees can have a large effect on pension account balances at retirement. Proper information about the level and structure of fees and charges is crucial for the effective governance of pension plans. It is also valuable to the members of pension schemes, particularly of defined contribution and hybrid schemes. The project focuses on private sector plans and participants, and includes employer-sponsored plans and individual account plans that are established independently of employers.

The project focuses on investment fees and administrative fees. Administrative costs include all costs to operate the pension fund except investment cost, that is, personnel costs, costs charged by third parties, rent, depreciation, and so on. The investment costs include the costs of all internal and external money managers hired by the  pension fund to invest in all asset classes and they include transactions costs.

Read the paper here.