What costs do we incur?

What costs do we incur?

APF Pension Fund incurs costs to administer the pension scheme:

•  Execution costs
•  Asset management costs

Administration costs are costs that are incurred for the administration, communication and, for example, the payment of the pension benefits. The administration costs of APF Pension Fund are € 140.- per participant, i.e. € 4.3 million in total.

Asset management costs are costs incurred for investing the pension moneys. Investing money involves costs. For example, APF Pension Fund pays asset managers. The fund incurs transaction costs as well. These are costs for buying or selling investments. The asset management costs are € 35.9 million, € 9.6 million of which are transaction costs.

We are transparent about these costs and look critically at the money we spend. The annual report includes a breakdown of the costs incurred by APF Pension Fund.