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Factors behind the administrative fees of private pension systems: an international analysis*

Published online by Cambridge University Press:  14 November 2013

DAVID TUESTA
DAVID TUESTA*
Affiliation:
BBVA Research and Centro para la Competitividad y Desarrollo – Universidad San Martín de Porres, Paseo de la Castellana 81, Madrid 28046, Spain (e-mail: david.tuesta@bbva.com)
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Abstract

This work has three objectives: first, to provide a comprehensive review of administrative fees; second, to construct a comparative data set for 53 countries; and third, to perform an empirical analysis that highlights the main determinants of pension fees from a world-wide perspective. The paper provides an econometric analysis by using panel data techniques. It finds the greater statistical significance of market size, result that is reinforced by mandatory pension schemes. Other factors, such as structural country conditions, market's vertical integration and the presence of an occupational pension scheme, seem to be less relevant.

Keywords

G23J32Pension feespension chargespensionsprivate pensionsdefined contribution
Type
Articles
Information
Journal of Pension Economics & Finance , Volume 13 , Issue 1 , January 2014 , pp. 88 - 111
Copyright
Copyright © Cambridge University Press 2013 

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Footnotes

*

The author is grateful for the comments received during two workshops held in The Pontificia Universidad Catolica of Peru on July 12 and October 28 of 2012. Special thanks to Luis Carranza of Universidad San Martín de Porres of Peru; Waldo Mendoza, Jorge Rojas and Mario Tello, of The Pontificia Universidad Catolica; Juan Yermo of the OECD; Angel Melguizo of the IADB; Diego Torres and Liverca Gomez of BBVA Research. The views expressed herein are the sole responsibility of the author and do not reflect the opinions of the institutions he is affiliated.

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