Salary structures

Employees' salaries may contain both a fixed and a variable component linked to either company or individual performance, or both.

 

Salary structures 2009

 

 

% of total remuneration received as variable compensation

% of variable compensation based on company performance

% of variable compensation based on individual performance

Senior management

29%

76%

24%

Middle management

18%

46%

54%

Other employees

10%

44%

56%

 

In 2009, because of the financial crisis, AEGON and its operating units took a number of measures to limit bonuses and performance-related pay to staff. These measures included:

 

  • Cancellation of AEGON's worldwide stock option program for 2009
  • No salary increases for senior management in the United States or the United Kingdom; no merit-based salary increase for management in the Netherlands
  • Only limited salary increases for employees in the Netherlands, the United Kingdom and the United States.
  • Reducing the salary premium for management in Hungary by 25%.

 

In the United States, AEGON took further steps in 2009 to link pay for senior managers to the results of both AEGON Americas and the company as a whole.