Abstract: In the last two decades, supplementary pension started having a bigger impact on society due to changes which happened in the official pension. This is a trend which affects both developed and developing countries. The concern related to the supplementary income during retirement resulted in the increase of pension fund memberships. Regarding a social and a financial standpoint, these pension funds have become striking. This paper aimed to carry out a systematic literature review about the evaluation of the efficiency of pension funds, seeking to identify patterns of objectives, methodologies, results and tendencies associated with them. In order to achieve the aim, 14 papers from five different bibliographic databases were selected. The papers were analyzed from three different perspectives: bibliometric analysis, correspondence analysis and content analysis. The results showed that the studies about the pension funds are still preliminary. However, considering the most utilized methodology (Data Envelopment Analysis), patterns have already been identified. Furthermore, it is also understood that the research of the evaluation of funds must thrive from an academic point of view, because the lack of standardization of analysis not only generates gaps in the literature, but also hinders the comparison among funds from varied perspectives.

Key words: evaluation, efficiency, pension funds, supplementary pension, benefits

JEL codes: O15, R23