Mama, Albert Touna; Pillay, Neryvia; Fedderke, Johannes W. - Economic Research Southern Africa (ERSA) - 2011
The focus of this paper is on the presence of economies of scale in administering pension funds. We make use of a unique dataset with extensive information on South African retirement funds from 1996 to 2006. For almost fifty years now, South Africa has operated under a system with small social...