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Aegon: merger of Aegon and asr

February 23 2023

With this message we have informed our members about the process surrounding the merger of asr and Aegon and the intended harmonization of employment conditions. A first exploration.

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merger

On 22 February 2023, asr CEO Jos Baeten not only explained the annual figures, but also reported that the preparations for the merger of asr and Aegon Netherlands are progressing according to plan. He further stated that asr has a proven track record in completing acquisitions, integrations and mergers within the set time frame, within budget and as agreed. It is expected that asr will be able to carry out the merger in the same disciplined manner. In working sessions with colleagues from Aegon, plans for the coming period are now being worked on, with the priority that asr's services to customers and intermediaries continue unabated and as normal before, but also after the closing. Asr is convinced that they can achieve the stated cost synergies of € 185 million per year within the set period of a maximum of three years after closing. You can read more information about the annual figures and mergers in the press release from asr.

Harmonization of working conditions

On February 21, 2023, the representatives of the three trade unions, HR and employee participation of both Aegon and asr, had an initial consultation about the harmonization of employment conditions. After an extensive introduction, we explored how we want to do this process under the guidance of an external process supervisor. Employers have the ambition to complete the harmonization of employment conditions by 1 October 2023 at the latest. They also think it is important that the harmonization package is recognizable from asr and Aegon and that there is support for it.

De Unie has expressed its willingness to harmonize the terms of employment, but that collective labor agreements, social plans and pension schemes are now in place at both organizations and that we are not committing ourselves in advance to 1 October 2023. We have also asked employers for insight into the intended integration process and the legal frameworks that apply. Asr and Aegon have laid down their employment conditions in a collective labor agreement, social plan, pension scheme, employee handbook and employment conditions to be determined by the employer. The point is that these are not the same packages over and over again. This means that trade unions, HR and employee participation must discuss these components separately and in conjunction, with attention being paid to everyone's responsibility.

The employment conditions packages of both organizations have been made transparent by HR and the employers have promised that they will be put on the table next time. A timeline and a document setting out the legal framework for this process are also being worked on. The employers will also explain the intended integration process next time.

Since it concerns a large group (about 25 people), we have made agreements about the minimum occupation to allow a meeting to take place. Two follow-up appointments have now been made on Tuesday, March 14 and Friday, March 24, 2023. After these meetings, we must have an overview of the amount of work to be done and with what timeline we will work. In addition to our own communication, we have also decided to issue a joint communication to the employees. A communication expert will therefore join the upcoming meetings.

Contact

Our representative Emanuel Geurts can be reached via emanuel.geurts@unie.nl. If you have an individual question or need advice, please contact our service center at sc@unie.nl or by phone at 0345-851963. We are happy to advise you!

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