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Aegon — AEGON Retirement Readiness Survey media conference call (June 2012)

14 slides from Aegon's conference presentation, Jun 7, 2012

1. Slide 1: The changing face of retirement

   The changing face of retirement AEGON Retirement Readiness Survey Alex Wynaendts CEO AEGON N.V. Media conference call June 7, 2012

2. Slide 2: Agenda

   Agenda ƒ Introduction ƒ Survey findings ƒ AEGON Retirement Readiness Index ƒ AEGON recommendations 2

3. Slide 3: Objectives of the survey

   Objectives of the survey ƒ Provide a clear picture of attitudes and behavior towards retirement readiness in Europe and the United States ƒ Promote awareness of personal responsibility for retirement ƒ Make recommendations that will encourage individuals, employers and public policy makers to enhanc

4. Slide 4: Research methodology

   Research methodology ƒ Topics ► Impact of pension reform, demographic and economic changes ► Retirement awareness and readiness ► Role of governments and employers ƒ Methodology ► 9,000 respondents of whom 8,100 employees and 900 retirees ► In 9 countries: France, Germany, Hungary, Netherlands, Pola

5. Slide 5: Current employees expect to be worse-off in retirement than current retirees

   Current employees expect to be worse-off in retirement than current retirees Do you think that future generations of retirees will be better off or worse off than those currently in retirement? 19% About the same 71% 71% believe 19% 71% that future Worse off generations will 5% Better off be worse-o

6. Slide 6: Awareness of retirement responsibility is not translating into action

   Awareness of retirement responsibility is not translating into action Respondents rated their responsibility with regard to retirement Do you think you will achieve the income on a scale of 1-5, with 5 being highest. Ratings 4 and 5 are you expect to need in retirement? shown as a percentage of all

7. Slide 7: Broad support for government pension reform

   Broad support for government pension reform With the costs of government pensions becoming a greater concern as people live longer, which of the following do you think the government should undertake? 19% 27% 19% A balanced approach: some reductions in payments and 12% some increases in tax 88% supp

8. Slide 8: Nearly half do not support increasing retirement age, despite rising life expectancy

   Nearly half do not support increasing retirement age, despite rising life expectancy To what extent do you feel that people should expect to work longer into old age as a way to offset the costs of people living longer? 19% Retirement age should 5% increase except for those in dangerous or manual wo

9. Slide 9: “Retirement cliff” giving way to phased retirement

   “Retirement cliff” giving way to phased retirement Looking back, how did your transition Looking ahead, how do you envision your transition to retirement take place? to retirement? 10% 11% Don’t know Don’t know 11% 10% 54% 30% 15% 10% 10% Retired 54% 15% Working 30% Continued Immediately stopped Con

10. Slide 10: The survey introduces the AEGON Retirement Readiness Index

    The survey introduces the AEGON Retirement Readiness Index Responsibility Personal responsibility: Do people take responsibility for their retirement income? Awareness Level of awareness: AEGON Do people recognize the need to plan for retirement? Retirement Understanding Financial understanding: Rea

11. Slide 11: Average Retirement Readiness Index score, by country

    Average Retirement Readiness Index score, by country ƒ Employees in Germany feel most prepared for retirement; Hungarian employees are least prepared ƒ Countries with large pension assets to GDP ratios also scored higher than average – UK, Netherlands, USA ƒ Hungary’s pension system has undergone tr

12. Slide 12: Profiles of retirement readiness

    Profiles of retirement readiness Typical profile of a prepared individual Typical profile of an unprepared individual High index score Low index score ƒ More likely to live in Northern Europe ƒ More likely to live in Southern or North America or Eastern Europe ƒ More likely to be male ƒ More likely

13. Slide 13: AEGON recommendations

    AEGON recommendations ƒ Awareness of retirement responsibility is not translating into action ► Although systems vary by country, people in all countries should start saving now and do so regularly. Governments and employers can facilitate this through tax incentives and effective and secure workpla

14. Slide 14: Q&As

    Q&As This presentation is illustrated with portraits of men and women in middle age and remastered pictures of what they could look like when they are old. Academic research suggests that people have difficulty imagining themselves in old age and this affects their ability to plan for the future. A

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