The oligopolistic structure of the open pension funds in Poland implies homogeneity of their behaviors on the market. In particular, it influences low competitive pressure between the funds. This Article draws attention to poor competitiveness of the funds, both in the area of price competition,...

Using official data and new econometric models based on how the industry actually works, we show the benefits of scale for members are limited, and confined to the non-profit sector which is structured to incur relatively low fixed costs compared with much higher variable costs. In Australian...