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Aegon: Everything from March 2023

March 13 2023

In this message we inform you about the periodic consultation of HR, COR and trade unions on Thursday, March 9, 2023.

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Periodic consultations

Trade unions have indicated that they want to get more background at Aegon's business units. What concerns them, what issues are at stake, what exactly are they doing, to what extent do the collective agreements help in business operations and in the relationship with employees? What expectations/concerns do they have about the asr/Aegon combination?

After Jan Willem Weidema (Corporate Center) and Nadine Klokke (Knab), Paul Everloo, the CEO of TKP, was a guest at our meeting. Paul told us about TKP's customers, products, services and figures [https://www.tkppensioen.nl/]. At TKP, 700 permanent employees and 300 externals are mainly working on the pension transition. The average age is 40 years, there is less than 10% outflow and absenteeism is less than 4%. Figures he likes. Research among staff shows that the new way of working is popular among TKP employees. One point of improvement is the leadership at TKP. Paul uses training for management and teams to improve this. In terms of terms of employment, there is satisfaction with the primary and secondary terms of employment. TKP can use it to recruit and retain permanent and flex personnel. Young TKP employees have a preference for CLA components such as (sabbatical) leave, vitality and work/life balance.

Paul also indicated that the employees do not consider the merger with asr a threat. TKP will continue to operate independently under the same name. However, there is a need for clarity about the future terms of employment. TKP recently bought the same platform (Plexus) as asr works with and asr will have the same shareholder role as Aegon now has. Paul thinks he can contribute to the return on investment of 185 million per annum promised by Jos Baeten to the shareholders by possibly taking over the current pension services provided by asr to customers.

Another guest at the meeting was Els Jacobs from Global HR Compensation & Benefits to speak about the unbundling of HR Aegon NL. She is involved in the 82 contracts that HR NL has running, including the collective labor agreement, social plan and pension scheme. The intention is that these contracts will in any case remain or become applicable to employees who do not go to asr, the so-called 'remainco'. To ensure this, a new personnel BV has been set up with the name Aegon Employees Netherlands (AEN). Just before the outgoing staff transfers to asr, the permanent staff will transfer to AEN under the Transfer of Personnel Act (OvO). The transition to AEN is related to the closing date and is therefore likely to be in June 2023.

Retirement

As of 1 January 2023, the statutory minimum wage has been adjusted. This also had an effect on the deductible in the Aegon pension scheme. Aegon Cappital has now adjusted the pension regulations accordingly. In addition, there has also been a change in the life cycles in 2022. All participants have already been informed about this by Aegon in June 2022. This point has also been included in the pension regulations.

Fusion process

On Tuesday, March 14, 2023, representatives of trade unions, employee participation and HR from both asr and Aegon will start working on the process of integration and harmonization of employment conditions under the supervision of an external process supervisor. The agenda includes the culture of the new organisation, the process of merging, the legal framework and the discussion of the overviews of the terms of employment and pension. Finally, we look at a timeline for the process and what could be on the agenda for Friday, March 24. After the 14e you will of course receive feedback.

Contact

If you have any questions, please contact the representative Emanuel Geurts at emanuel.geurts@unie.nl and by telephone on 06-5252 2074. If you have an individual question or need advice, please contact our Service Center via sc@unie.nl or by phone on 0345-851 963. We are happy to advise you!

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