Voluntary pension fund costs fell last year
The costs of voluntary pension funds for members developed favorably last year, according to a recent summary from the National Bank of Hungary (MNB) released on its website.
The classical fee burden ratio, which reviews the costs of the fund sector retrospectively, fell in 2020 from 0.75% in the previous year, and the adjusted fee burden ratio fell from 0.78% to 0.69%.
Unchanged operating deductions and significantly lower investment costs, mainly due to lower performance management fees, reduced the average fee burden on voluntary pension fund members from 0.75% to 0.64% last year.
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