Common use of Early Retirement Scheme (ERS Clause in Contracts

Early Retirement Scheme (ERS. If an employee reaches the state pension age within three years, the employee can make use of the ERS (Early Retirement Scheme) based on a temporary amendment in the Wage Tax Act (Wet op de loonbelasting). The ERS has been temporarily eased as part of the Pension Agreement. Aegon wants to take advantage of this easing and will offer the ERS for the period from January 1, 2023 through December 31, 2025 under the following conditions: • The employee must submit a written request for the ERS to his/her manager at least four months in advance. • The employee can take advantage of the ERS if he/she has been in service for at least 10 years. • Taking advantage of the ERS is only possible in consultation with and after approval from the manager. • If the manager receives multiple requests at the same time, he/she has the option of moving the start date of the request in consultation with the employee or rejecting the request. • The employee terminates his/her employment at his/her own request. • The amount of the benefit is € 22,488 gross per year (2022) and will be indexed annually. • The benefit received by the employee will be calculated based on the number of months between the employment termination date and the state pension age and will be adjusted pro rata according to the work scope. The benefit will be paid out within one month of the employment termination date. • If desired, the employee may supplement the benefit with his/ her own resources or can have the pension take effect sooner. • The employee cannot take advantage of another severance scheme (e.g. based on the social plan) in addition to the ERS. Working at Aegon Training and development Income Time and place