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 € 293 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).
The capital management costs include the investment costs, such as transaction costs, but also management costs. These costs are 0,48% of the average invested capital.