The pension administrator incurs various costs to administer the pension scheme. They include the administrative fees. This includes the costs of paying out the pensions and collecting the contributions. We also incur communication costs, for example preparing and sending this Pension 1-2-3 and the Uniform Pension Overview.
And then there are the asset management costs. Investment capital costs money. We pay a fee to the parties who invest the capital for us. We also incur transaction charges. These include the costs charged by the stock exchange for buying or selling shares or bonds.
A specification of the costs we incur is given at this website and in our annual report.
The regulations set out precisely what you will receive in our pension scheme. The regulations can be downloaded here (in Dutch).