DENMARK - Pensionskassernes Administration (PKA), Denmark's largest occupational pension fund administrator, said better administrative systems have allowed it to reduce its costs for members.
Cost of administration for members of the eight PKA pension schemes have fallen to around DKK500 (€67.12) per member this year from DKK550 in 2007 and DKK650 in 2006, the organisation, which has DKK114bn in assets under management, said in a statement.
Costs have fallen by 30% since 2005, it pointed out, adding the margin on member's contribution is now between just 1.5% and 2%.
Moreover, PKA said it expected costs to fall further in 2009.
"We have improved the administrative systems and made use of IT," said PKA's managing director Peter Damgaard Jensen, "and it is gratifying that our efforts to find new, better and more effective ways of doing things are now giving members concrete results."
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