Costs for implementation

Pension management costs

The pension management costs comprise the administration, pension Office, and supervision costs, and the costs for external specialists such as accountants and advisers. The implementation costs are approximately 
€ 337 per participant. This doesn't include the former participants (who are no longer employed with EY or HVG Law, but still have a pension with Pensioenfonds Ernst & Young in liquidatie).

Capital management costs

The capital management costs include the investment costs, such as transaction costs, but also management costs. These costs are 0.27% of the average invested capital.