Pension fund efficiency: the impact of scale, governance and plan design
Jacob Bikker; Jan de Dreu;
Subject: Administrative costs; investment costs; economies of scale; pension plan design; governance; defined benefits; defined contribution; outsourcing; reinsurance.
jel: jel:G23 | jel:H55 | jel:G14 | jel:D61
Administrative and investment costs per participant appear to vary widely across pension funds. These costs are important because they reduce the rate of return on the investments of pension funds and consequently raise the cost of retirement security. This paper examin... View more