About this Report
This study investigates the key factors that influence pension fees by comparing the fees charged in the Netherlands, Canada, Poland and the United States which vary considerably. Portfolio choice and investment management style (passive versus active) are key factors affecting fees. In addition, total pension fees have increased over time for large pension plans due to the addition of non-traditional, alternative pension investments with higher fees than stocks and bonds. Public policy and regulation can help lower fees by increasing transparency and enforcing fiduciary responsibility.