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The Role of Costs in Irish Pension Fund Performance

Author

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  • Bridget McNally

    () (Department of Economics Finance and Accounting, National University of Ireland, Maynooth)

  • Jim Stewart

    () (Trinity College, Dublin)

Abstract

This paper highlights the lack of transparency in the reporting of overall cost levels incurred by Irish pension schemes and demonstrates the impact of costs on pension fund performance. The paper relies on primary and secondary data analysis of financial statements of Irish pension schemes over a six year period. The paper finds that a significant portion of costs incurred by Irish pension schemes are not disclosed separately in the schemes’ financial statements. This results in a significant lack of transparency as to overall costs incurred annually by pension schemes. The RIY impact of pension fund costs (administrative and all other charges) over the lifetime of a scheme highlights the need for greater focus to be placed on cost efficiencies and competitiveness in any proposals for pension reform in Ireland.

Suggested Citation

  • Bridget McNally & Jim Stewart, 2013. "The Role of Costs in Irish Pension Fund Performance," Economics, Finance and Accounting Department Working Paper Series n238-13.pdf, Department of Economics, Finance and Accounting, National University of Ireland - Maynooth.
  • Handle: RePEc:may:mayecw:n238-13.pdf
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    File URL: http://repec.maynoothuniversity.ie/mayecw-files/N238-13.pdf
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    Keywords

    Transparency; R.I.Y. impact; Cumulative effect;

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