Our costs
We incur costs for the administration of the pension scheme. These include the costs of payment of pensions and the collection of contributions. There are also costs for communication and costs for management and supervision, such as all the meetings that are organised and the reviews by De Nederlandsche Bank. The administration costs in 2022 amounted to € 541 per scheme member.
There are also costs for asset management. Investment of assets costs money. For instance, we have to pay the parties that invest the fund assets on our behalf. There are also transaction costs, such as the costs charged by the stock exchange for the purchase of shares. These costs are shown as a percentage of the average assets invested. This percentage is 0.59% for the asset management and 0.64% including the transaction costs.
Full details of the costs we incur are given in Section 1 Financial Information of our annual report.