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Information on members of the Supervisory Board and the composition of Aegon’s four committees, Audit, Nominating, Compensation and Risk, may be found on pages 95 to 97. 

## Supervisory Board Remuneration Report 2013 

Members of Aegon’s Supervisory Board received the following payments (in EUR) in 2013: 

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Not included in the table above is a premium for state health insurance paid on behalf of Dutch Supervisory Board members The remuneration for Supervisory Board members is as of 2013 Dutch VAT liability compliant. The amounts 2013 include the VAT paid by Aegon. 

## Executive Board Remuneration Policy 2013 

## Executive Board remuneration 

The Executive Board of Aegon is remunerated on the basis of the principles described in Aegon’s GRF. Aegon’s remuneration policy for members of the Executive Board is derived from this Framework and sets out terms and conditions for members of the company’s Executive Board. 

The Executive Board Remuneration Policy was prepared in accordance with the Dutch Corporate Governance Code and the Decree on Sound Remuneration Policy (Regeling beheerst beloningsbeleid WFt 2011-Rbb) by DNB. It was adopted at the General Meeting of Shareholders on May 12, 2011. The Policy will remain in force until such time as the Supervisory Board proposes changes or amendments. 

## Role of the Compensation Committee 

The Compensation Committee of Aegon’s Supervisory Board has overall responsibility for the company’s Remuneration Policies, including the Executive Board Remuneration Policy. Members of the Committee are drawn from the Supervisory Board. 

Each year, Aegon’s Compensation Committee reviews Aegon’s remuneration policies to ensure they remain in line with prevailing international standards. This review is based partly 

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on information provided by Aegon’s external adviser, Towers Watson. The adviser, however, does not advise individual members of the Executive and Supervisory Boards. 

The Compensation Committee may recommend changes to the policies to the Supervisory Board. Any material changes in the Executive Board Remuneration Policy must also be referred to the General Meeting of Shareholders for adoption. 

## Review of the Remuneration Policy 

Aegon’s Executive Board Remuneration Policy is reviewed every year by the Compensation Committee. The policy applies to all members of Aegon’s Executive Board. 

## Ensuring pay remains competitive 

The company regularly compares its levels of executive remuneration with those at other, comparable companies. Companies included in the peer group have been chosen according to the following criteria: 

■ Industry (preferably life insurance); 

■ Size (companies with similar assets, revenue and market capitalization); 

■ Geographic scope (preferably companies operating globally); 

■ Location (companies based in Europe). 

In 2013, the peer group comprised Aviva, Axa, CNP Assurances, Generali, ING Group, Legal & General, Münchener Rückversicherung, Old Mutual, Prudential plc., Standard Life, Swiss Re, and Zurich Financial Services. 

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