Valoración comparativa de una dieta

reported for the health care plans. A one-percentage change in assumed medical cost trend rates would have the following effects:

2007 2006 + 1% - 1% + 1% - 1%

Aggregate of current service cost and interest cost components of net periodic

post-employment medical costs 1 (1) 2 (1)

Accumulated post-employment benefi t obligation for medical cost 17 (16) 19 (19)

Experience adjustments arising on 2007 2006 2005 2004

Plan liabilities (37) (76) (28) 90

Plan assets 64 112 52 66

An experience adjustment on plan liabilities is the difference between the actuarial assumptions underlying the scheme and the actual experience during the period. This excludes the effect of changes in the actuarial assumptions that would also qualify as actuarial gains and losses. Experience adjustments on plan assets are the difference between expected and actual return on assets.

Best estimate of contributions expected for the next annual period 192

Estimated future benefi ts

Pension benefi ts Other benefi ts Total 2008 165 17 182 2009 172 19 191 2010 208 20 228 2011 187 20 207 2012 195 21 216 2013 to 2017 1,099 108 1,207

Defined benefit plans are mainly operated by AEGON USA, AEGON The Netherlands and AEGON UK. The following sections contain a general description of the plans in each of these subsidiaries, a summary of the principal actuarial assumptions applied in determining the value of defined benefit plans and a description of the basis used to determine the overall expected rate of return on plan assets. AEGON USA

AEGON USA has defined benefit plans covering substantially all its employees that are qualified under the Internal Revenue Service

Code. The benefits are based on years of service and the employee’s compensation during the highest five, complete, consecutive years of employment. These defined benefit plans were overfunded by EUR 387 million at December 31, 2007.

AEGON USA also sponsors supplemental retirement plans to provide senior management with benefits in excess of normal pension benefits. These plans are unfunded and non-qualified under the Internal Revenue Service Code. The unfunded amount related to these plans, for which a liability has been recorded, is EUR 140 million.

Chapter fi veFINANCIAL INFORMATION

Assumptions used to determine benefi t obligations at year end 2007 2006

Discount rate 6.25% 5.90%

Rate of increase in compensation levels 4.50% 4.50%

Assumptions used to determine net periodic benefi t cost for the year ended December 31

Discount rate 5.90% 5.65%

Rates of increase in compensation levels 4.50% 4.50%

Expected long-term rate of return on assets 8.10% 8.25%

The expected return on plan assets is set at the long-term rate expected to be earned based on the long-term investment strategy and the various classes of the invested funds. For each asset class, a long-term asset return assumption is developed taking into account the long-term level of risk of the asset and historical returns of the asset class. A weighted average expected long-term rate was developed based on long-term returns for each asset class and the target asset allocation of the plan.

AEGON USA provides health care benefits to retired employees, which are predominantly unfunded. The post-retirement health benefit liability amounts to EUR 147 million.

The principal actuarial assumptions that apply for the year ended December 31, 2007 (that is at January 1, 2007) are as follows:

2007 2006

Assumed health care trend rates

Health care cost trend rate assumed for next year 10.00% 8.00%

Rate that the cost trend rate gradually declines to 5.00% 5.00%

Year that the rate reaches the rate that it is assumed to remain at 2013 2009

Target allocation of plan assets for retirement benefi t plans for the next annual period is

Equity instruments 53 - 73%

Debt instruments 15 - 35%

Other 0 - 15%

The overall goal of the plans is to maximize total investment returns to provide sufficient funding for the present and anticipated future benefit obligations within the constraints of a prudent level of portfolio risk and diversification. AEGON believes that the asset allocation is an important factor in determining the long-term performance of the plans. From time to time the actual asset allocation may deviate from the desired asset allocation ranges due to different market performance among the various asset categories. If it is determined that rebalancing is required, future additions and withdrawals will be used to bring the allocation to the desired level. Pension plan contributions were not required for AEGON USA in 2007 or 2006.

AEGON THE NETHERLANDS

AEGON The Netherlands has a number of defined benefit plans and a small defined contribution plan. The contributions to the retirement benefit plan of AEGON The Netherlands are paid by both the

employees and the employer, with the employer contribution being variable. The benefits covered are retirement benefits, disability, death and survivor pension and are based on an average salary system. Employees earning more than EUR 41,252 per year (as at January 1, 2007) have an option to contribute to a defined contribution plan for the excess salary. However, the cost for the company remains the same. The defined benefit plans were unfunded by EUR 1,541 million at December 31, 2007. Assets held by AEGON The Netherlands for retirement benefits do not meet the definition of plan assets and as such were not deducted in calculating this amount. Instead, these assets are recognized as general account assets. Consequently, the return on these assets do not form part of the calculation of defined benefit expenses.

AEGON The Netherlands also has a post-retirement medical plan that contributes to the health care coverage of employees and beneficiaries after retirement. The liability related to this plan amounted to EUR 48 million at December 31, 2007.

The principal actuarial assumptions that apply for the year ended December 31, 2007 are as follows:

2007 2006

Discount rate 5.50% 4.50%

Salary increase rate 2.50% 2.50%

Social security increase rate 2.50% 2.50%

Pension increase rate 2.00% 2.00%

Health care cost trend rate assumed for next year 1.50-2.00% 2.00%

Rate that the cost trend rate gradually declines to 1.50-2.00% 2.00%

Year that the rate reaches the rate it is assumed to remain at N/A N/A

AEGON UK

AEGON UK operates a defined benefit pension scheme providing benefits for staff based on final pensionable salary. The assets of the scheme are held under trust separately from those of the Group. The assets of the scheme are held in policies effected with Scottish Equitable plc. The scheme is closed to new entrants. Under IAS 19, the defined benefit plan has a deficit of EUR 227 million at December 31, 2007.

For each asset class, a long-term return assumption is derived taking into account market conditions, historical returns (both absolute returns and returns relative to other asset classes) and general forecasts for future returns. Government bonds are taken as providing the return with the least risk. The expected long-term rate of return is calculated as a weighted average of these assumed rates, taking account of the long-term strategic allocation of funds across the different classes adopted by the trustees of the scheme.

The principal actuarial assumptions that apply for the year ended December 31, 2007 are as follows:

2007 2006

Discount rate 5.20% 4.80%

Salary increase rate 4.40% 4.10%

Pension increase rate 2.90% 2.60%

Price infl ation 2.90% 2.60%

Expected long-term return on assets 6.60% 6.40%

Target allocation of plan assets for retirement benefi t plans for the next annual period is

Equity instruments 67% 65 – 71%

Debt instruments 33% 29 – 35%

The target asset allocation is moving over time to a target of 65% equities and 35% bonds.