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Competition among Dutch pension funds: is there any?

Author

Listed:
  • Jaap A. Bikker
  • Michiel van Leuvensteijn
  • Jeroen Meringa

Abstract

This paper adds to the literature by analysing for the first time the functioning of the Dutch pension funds market from a competition or efficiency perspective. Of course, competition is severely limited on this highly regulated market. The analyses focus on a key property of well-functioning markets: the reward of efficiency. The conclusion can be drawn that in the market for pension funds efficiency is indeed rewarded, up to a certain level. New regulations on cost transparency and on the quality of pension boards, and the ongoing consolidation among pension funds may be explanations for this development over time. At the same time, the level at which efficiency is rewarded is very low compared to other financial sectors such as the life insurance and banking sector.

Suggested Citation

  • Jaap A. Bikker & Michiel van Leuvensteijn & Jeroen Meringa, 2025. "Competition among Dutch pension funds: is there any?," Working Papers 839, DNB.
    • Handle: RePEc:dnb:dnbwpp:839
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    Keywords

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    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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