Administration and asset management costs

Forward incurs the following costs in administrating the pension scheme:

• Administrative costs
• Asset management costs 

The term ‘administration costs’ includes for example the costs relating to the payment of the pensions and the collection of the contributions. It also includes the salary costs of Forward’s employees and communication costs such as newsletters, the website, etc.

Secondly, there are asset management costs. Managing our funds costs money. We pay Univest Company, for example, the (internal) Unilever organisation that invests the funds for approximately 80 Unilever pension schemes in 40 countries - including Forward. We also incur transaction costs such as the costs charged by the stock exchange in relation to the acquisition or sale of shares or bonds. You can read more on the costs we incur, including all specifications, in our annual report.