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Working at APG
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APG, strong in collective and solidary pension
Financial services provider APG provides services such as executive consultancy, asset management, pension administration, pension communication and employers services. APG performs these activities on behalf of (pension) funds and employers in the sectors of education, government, construction, cleaning and glass cleaning, housing associations, energy and utility companies, sheltered employment, medical specialists and practices of architects.
APG manages € 529 billion (August 2019) in pension assets for its clients in these sectors. APG works for over 21,000 employers, providing the pension for one in five families in the Netherlands (over 4.5 million participants).
APG, strong in collective and solidary pension
Financial services provider APG Group provides services such as executive consultancy, asset management, pension administration, pension communication and employers services. APG performs these activities on behalf of (pension) funds and employers in the sectors of education, government, construction, cleaning and glass cleaning, housing associations, energy and utility companies, sheltered employment, medical specialists and practices of architects.
APG manages € 529 billion (August 2019) in pension assets for its clients in these sectors. APG works for over 21,000 employers, providing the pension for one in five families in the Netherlands (over 4.5 million participants).
Vision and mission
Vision of the future
Consumers expect more transparency, freedom of choice, and accountability both in general and from the financial sector in particular. Increasing digitization and computerization will have an impact on working methods and service provision in the sector. The pension system will be under growing pressure in the years to come, and it will gradually but drastically change to afford more latitude for individual consumer choice. Pension funds and participants are facing the problems of missed indexation and possible reductions. A constant factor is the ongoing pressure on implementation costs from pension funds so that they can realize as much future income as possible for participants.
Mission and ambition
APG plays a leading role in the pension sector. It is our job to focus on the future. ‘Building your sustainable future together’ is our mission in this. This means that we actively work with all our stakeholders to ensure the continuity of the pension (based on collectivism and solidarity) and its ability to stand up to future developments in the long term. In combination with our vision for the future, we feel that we bear some responsibility for many people’s grip on their financial future, with attention to individual wishes and respect for the world that we all share. Based on this mission, we have defined our ambition as follows: ‘APG is the natural choice to gain in control of your financial future.’
Vision and mission
Vision of the future
Consumers expect more transparency, freedom of choice, and accountability both in general and from the financial sector in particular. Increasing digitization and computerization will have an impact on working methods and service provision in the sector. The pension system will be under growing pressure in the years to come, and it will gradually but drastically change to afford more latitude for individual consumer choice. Pension funds and participants are facing the problems of missed indexation and possible reductions. A constant factor is the ongoing pressure on implementation costs from pension funds so that they can realize as much future income as possible for participants.
Mission and ambition
APG plays a leading role in the pension sector. It is our job to focus on the future. ‘Building your sustainable future together’ is our mission in this. This means that we actively work with all our stakeholders to ensure the continuity of the pension (based on collectivism and solidarity) and its ability to stand up to future developments in the long term. In combination with our vision for the future, we feel that we bear some responsibility for many people’s grip on their financial future, with attention to individual wishes and respect for the world that we all share. Based on this mission, we have defined our ambition as follows: ‘APG is the natural choice to gain in control of your financial future.’
Tomorrow is today
APG’s motto is “Tomorrow is today.” This conveys the message that APG works hard every day to ensure tomorrow’s pensions. It also underlines that a good investment strategy and sound pension management today form the basis for a good pension in the future. The motto furthermore constitutes the guideline for APG’s corporate social responsibility. The management approach in part focuses on creating a livable world for current and future generations.
Tomorrow is today
APG’s motto is “Tomorrow is today.” This conveys the message that APG works hard every day to ensure tomorrow’s pensions. It also underlines that a good investment strategy and sound pension management today form the basis for a good pension in the future. The motto furthermore constitutes the guideline for APG’s corporate social responsibility. The management approach in part focuses on creating a livable world for current and future generations.
The pension system is based on three pillars
The Dutch pension system is based on three pillars. The first pillar is AOW state pension; the second pillar is provided by the pension funds. Participation in a pension fund is mandatory to everyone who works. The third pillar consists of supplementary insurance policies.
First pillar
We concur with our clients: we as a pension provider believe in a strong Dutch pension system based on collectivism and solidarity. Every Dutch person is entitled to AOW (basic state pension) from age 65 based on the number of years he/she resided in the Netherlands. From 2013, the age at which people become eligible for AOW state pension gradually increases. In 2021, this will be age 67. The basic state pension is funded through a current income financing system; an annual calculation determines how much cash is needed in total, and this is distributed among all contribution payers. The basic state pension (the first pillar) is based on solidarity of virtually the entire population because it concerns a general legal facility funded by a very large portion of the population. These two aspects together make for a redistribution system referred to as solidarity.
Second pillar
Pension schemes constitute the second pillar. Participation in a scheme is mandatory for every person who works if a CLA with a pension scheme is applicable. The second pillar of the Dutch pension system is based on solidarity. This solidarity takes the shape of collective pension schemes. These schemes are generally provided by sector-wide, corporate or profession-based pension funds, or by insurers or PPI’s (Premium Pension Institution).
It is important to keep participation mandatory. This way, pension savings are mandatory for the entire working population, with the exception of ZZP (self-employed individuals). Retirement plans are not mandatory in the Netherlands, which is why self-employed people are free in their choice. We are convinced that a future-ready pension system must also be based on a socially and economically strong second pillar.
Third pillar
The supplementary insurance policies fall under the scope of the third pillar. Both employers and employees are increasingly responsible for the level of income when changes take place, such as pre-pension (part-time retirement), disability or death. This also includes the individual pension products for the self-employed and bank savings accounts. This has resulted in increasing demand for options to individually supplement collective and semi-collective schemes.
