15 Cost reductions can come not only from increasing the volume of assets under management, with consequent economies of scale, but also from stimulating competition among pension schemes.
This may call for several measures including educating consumers about the effect of charges on pension fund returns; assuring a high degree of transparency and comparability of charges between different schemes; easing the transferability of employer contributions across different schemes, especially for people with term jobs and interrupted careers; and intensifying competition among intermediaries offering pension fund asset management services.