Aegon supports local communities through charitable donations and volunteer work. In line with our Responsible Business approach, we focus on the intersection of financial security and well-being.
Our goals are to:
- Serve and strengthen the communities where we do business and create a better quality of life for beneficiaries
- Engage and involve employees
- Promote Aegon's responsible business vision to all stakeholders
Overall, through our businesses, Aegon supports approximately 500 charities and good causes. Aegon’s donations in 2020 amounted to EUR 9.5 million, a 16% increase compared to 2019.
In the United States, our donations are handled by the Aegon Transamerica Foundation, which donates on average 5% of its assets every year. In the United Kingdom, local donation decisions are made by our employee Charity Committee.
We encourage our employees to volunteer, with most of our people able to claim paid time off to work on community projects. In-person volunteering was restricted in 2020 due to COVID-19, and our annual company-wide Volunteer Friday was unavoidably canceled. Despite these constraints, 4,399 employee volunteer hours were recorded in 2020 (equivalent to EUR 0.2 million, based on volunteers’ average salaries).
To further underline our purpose, we have selected two overarching themes for our donations, which is reflected in the Charitable Donations Standards:
- Under the theme of financial security and education, we support charities that promote financial education and financial literacy such as teaching children about finance and helping adults understand their finances. We also support programs that help older people with their quest for gainful employment, be it starting their own business or retraining.
- To promote well-being and longevity, Aegon supports charities that encourage physical fitness and mental vitality. We also help organizations in the prevention and research of old-age diseases such as Alzheimer's, heart disease and cancer.
Aegon's Charitable Donations Standards sets out the guidelines for our support to charities, good causes and other non-profit organizations.