Average costs for Dutch pension funds stood at €115 per member in 2016, the same as in 2015, according to a report by LCP.

The consultancy firm researched 204 pension funds, which make up 99 per cent of the Dutch pension market.

The research found that around 99 per cent of the funds report their pension management costs as an amount per member and the asset management costs as a percentage of the invested assets. Furthermore, 91 per cent give an estimation of their transaction costs.

The pension management costs totalled €1bn last year, an increase of almost 2 per cent compared to 2015. Around half of the schemes had higher pension management costs per member in 2016 compared to 2015, with an average increase of 15 per cent. The other half had lower management costs of on average 11 per cent.

In 2016, the asset management costs were 0.46 per cent of the average amount of assets invested; 2 basis points less than in 2015. Transaction costs were 0.08 per cent, 1 basis point less than in 2015.

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