Defined benefit plans (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Statement [LineItems] |
|
| Summary of Defined Benefit Plans |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
2025 |
|
|
|
2024 |
|
|
|
|
Retirement benefit plans |
|
|
217 |
|
|
|
269 |
|
|
|
|
Other post-employment benefit plans |
|
|
167 |
|
|
|
189 |
|
|
|
|
Total defined benefit plans |
|
|
384 |
|
|
|
|
|
|
|
|
Retirement benefit plans in surplus |
|
|
95 |
|
|
|
110 |
|
|
|
|
Reimbursement rights |
|
|
28 |
|
|
|
9 |
|
|
|
|
Total defined benefit assets |
|
|
124 |
|
|
|
|
|
|
|
|
Retirement benefit plans in deficit |
|
|
340 |
|
|
|
388 |
|
|
|
|
Other post-employment benefit plans in deficit |
|
|
167 |
|
|
|
189 |
|
|
|
|
Total defined benefit liabilities |
|
|
507 |
|
|
|
|
|
|
| Summary of Movements of Defined Benefit Plans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
|
|
|
Movements during the year |
|
|
Retirement
benefit plans |
|
|
|
Other post-
employment
benefit plans |
|
|
|
Total |
|
|
|
Retirement
benefit plans |
|
|
|
Other post-
employment
benefit plans |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
269 |
|
|
|
189 |
|
|
|
457 |
|
|
|
368 |
|
|
|
178 |
|
|
|
546 |
|
|
|
|
|
|
|
|
Defined benefit expenses |
|
|
45 |
|
|
|
15 |
|
|
|
61 |
|
|
|
42 |
|
|
|
15 |
|
|
|
57 |
|
|
|
|
|
|
|
|
Remeasurements of defined benefit plans |
|
|
(6 |
) |
|
|
(3 |
) |
|
|
(9 |
) |
|
|
19 |
|
|
|
(5 |
) |
|
|
15 |
|
|
|
|
|
|
|
|
Contributions paid |
|
|
(44 |
) |
|
|
- |
|
|
|
(44 |
) |
|
|
(148 |
) |
|
|
- |
|
|
|
(148 |
) |
|
|
|
|
|
|
|
Benefits paid |
|
|
(19 |
) |
|
|
(12 |
) |
|
|
(31 |
) |
|
|
(28 |
) |
|
|
(12 |
) |
|
|
(40 |
) |
|
|
|
|
|
|
|
Net exchange differences |
|
|
(28 |
) |
|
|
(22 |
) |
|
|
(50 |
) |
|
|
16 |
|
|
|
12 |
|
|
|
27 |
|
|
|
|
|
|
|
|
On December 31 |
|
|
217 |
|
|
|
167 |
|
|
|
384 |
|
|
|
269 |
|
|
|
189 |
|
|
|
457 |
|
|
| Summary of Amounts Recognized in Statement of Financial Positions |
The amounts recognized in the statement of financial position are determined as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
|
|
|
|
|
2024 |
|
|
|
|
|
|
|
|
Net carrying value details |
|
|
Retirement
benefit plans |
|
|
|
Other post-
employment
benefit plans |
|
|
|
Total |
|
|
|
Retirement
benefit plans |
|
|
|
Other post-
employment
benefit plans |
|
|
|
Total |
|
|
|
|
|
|
|
|
Present value of funded obligations |
|
|
2,852 |
|
|
|
- |
|
|
|
2,852 |
|
|
|
3,140 |
|
|
|
- |
|
|
|
3,140 |
|
|
|
|
|
|
|
|
Fair value of plan assets |
|
|
(2,845 |
) |
|
|
- |
|
|
|
(2,845 |
) |
|
|
(3,123 |
) |
|
|
- |
|
|
|
(3,123 |
) |
|
|
|
|
|
|
|
Fair value of reimbursement rights |
|
|
(28 |
) |
|
|
- |
|
|
|
(28 |
) |
|
|
(9 |
) |
|
|
- |
|
|
|
(9 |
) |
|
|
|
|
|
|
|
|
|
|
(22 |
) |
|
|
- |
|
|
|
(22 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Present value of unfunded obligations |
|
|
239 |
|
|
|
167 |
|
|
|
406 |
|
|
|
262 |
|
|
|
189 |
|
|
|
450 |
|
|
|
|
|
|
|
|
On December 31 |
|
|
217 |
|
|
|
167 |
|
|
|
384 |
|
|
|
269 |
|
|
|
189 |
|
|
|
457 |
|
|
| Summary of Fair Value of Plan Assets |
The fair value of Aegon’s own transferable financial instruments included in plan assets and the fair value of other assets used by Aegon included in plan assets were nil in both 2025 and 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
|
|
|
Defined benefit expenses |
|
|
Retirement
benefit plans |
|
|
|
Other post-
employment
benefit plans |
|
|
|
Total |
|
|
|
Retirement
benefit plans |
|
|
|
Other post-
employment
benefit plans |
|
|
|
Total |
|
|
|
|
|
|
|
|
Current year service cost |
|
|
36 |
|
|
|
7 |
|
|
|
43 |
|
|
|
32 |
|
|
|
7 |
|
|
|
39 |
|
|
|
|
|
|
|
|
Net interest on net defined benefit liability (asset) |
|
|
9 |
|
|
|
9 |
|
|
|
18 |
|
|
|
9 |
|
|
|
9 |
|
|
|
18 |
|
|
|
|
|
|
|
|
Total defined benefit expenses |
|
|
45 |
|
|
|
15 |
|
|
|
61 |
|
|
|
42 |
|
|
|
15 |
|
|
|
57 |
|
|
| Summary of Breakdown of Plan Assets for Retirement of Benefit Plans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
|
|
|
|
|
Plan assets for
retirement benefit plans |
|
Quoted |
|
|
Unquoted |
|
|
Total |
|
|
in % of total
plan assets |
|
|
Quoted |
|
|
Unquoted |
|
|
Total |
|
|
in % of total
plan assets |
|
|
|
|
|
|
|
|
|
|
Debt instrument |
|
|
702 |
|
|
|
198 |
|
|
|
900 |
|
|
|
32% |
|
|
|
594 |
|
|
|
275 |
|
|
|
869 |
|
|
|
28% |
|
|
|
|
|
|
|
|
|
|
Derivatives |
|
|
- |
|
|
|
(30 |
) |
|
|
(30 |
) |
|
|
-1% |
|
|
|
- |
|
|
|
(183 |
) |
|
|
(183 |
) |
|
|
-6% |
|
|
|
|
|
|
|
|
|
|
Investment funds |
|
|
- |
|
|
|
1,625 |
|
|
|
1,625 |
|
|
|
57% |
|
|
|
- |
|
|
|
2,027 |
|
|
|
2,027 |
|
|
|
65% |
|
|
|
|
|
|
|
|
|
|
Other |
|
|
- |
|
|
|
350 |
|
|
|
350 |
|
|
|
12% |
|
|
|
- |
|
|
|
410 |
|
|
|
410 |
|
|
|
13% |
|
| |
|
|
|
|
|
|
|
|
On December 31 |
|
|
702 |
|
|
|
2,144 |
|
|
|
2,845 |
|
|
|
100% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of Actuarial Assumptions used to Determine Defined Benefit Obligations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial actuarial assumptions used to determine defined benefit obligations at year-end |
|
|
Transamerica |
|
|
|
Aegon UK |
|
|
|
AEN |
|
| |
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
|
|
|
Discount rate |
|
|
5.45%/ 5.23% |
|
|
|
5.59%/ |
|
|
|
5.66% |
|
|
|
5.58% |
|
|
|
4.00% |
|
|
|
3.51% |
|
|
|
|
|
|
|
|
Salary increase rate |
|
|
4.00% |
|
|
|
4.00% |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
|
|
|
|
|
Health care trend rate |
|
|
8.50% |
|
|
|
6.90% |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
|
|
|
|
|
Price inflation |
|
|
n.a. |
|
|
|
n.a. |
|
|
|
3.00% |
|
|
|
3.19% |
|
|
|
2.13% |
|
|
|
1.99% |
|
1 |
Transamerica has separate discount rates for all pension plans: 5.45% in 2025, 5.59% in 2024 and for post-retirement welfare plan: 5.23% in 2025, 5.51% in 2024. | The principal actuarial assumptions affect the amounts reported for the defined benefit obligation. A change as indicated in the table below in the principal actuarial assumptions would have the following effects on the defined benefit obligation per year-end:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Estimated approximate effects on the defined benefit obligation |
|
|
Transamerica |
|
|
|
Aegon UK |
|
|
|
AEN |
|
| |
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
|
|
|
Demographic actuarial assumptions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10% increase in mortality rates |
|
|
(40 |
) |
|
|
(46 |
) |
|
|
(20 |
) |
|
|
(21 |
) |
|
|
(1 |
) |
|
|
(1 |
) |
|
|
|
|
|
|
|
10% decrease in mortality rates |
|
|
44 |
|
|
|
51 |
|
|
|
21 |
|
|
|
23 |
|
|
|
1 |
|
|
|
1 |
|
|
|
|
|
|
|
|
Financial actuarial assumptions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100 basis points increase in discount rate |
|
|
(163 |
) |
|
|
(183 |
) |
|
|
(103 |
) |
|
|
(114 |
) |
|
|
(12 |
) |
|
|
(13 |
) |
|
|
|
|
|
|
|
100 basis points decrease in discount rate |
|
|
201 |
|
|
|
232 |
|
|
|
126 |
|
|
|
142 |
|
|
|
16 |
|
|
|
17 |
|
|
|
|
|
|
|
|
100 basis points increase in salary increase rate |
|
|
4 |
|
|
|
4 |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
|
|
|
|
|
100 basis points decrease in salary increase rate |
|
|
(3 |
) |
|
|
(4 |
) |
|
|
n.a. |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
|
|
|
|
|
100 basis points increase in health care trend rate |
|
|
9 |
|
|
|
12 |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
|
|
|
|
|
100 basis points decrease in health care trend rate |
|
|
(9 |
) |
|
|
(10 |
) |
|
|
n.a. |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
n.a. |
|
|
|
|
|
|
|
|
100 basis points increase in price inflation |
|
|
n.a. |
|
|
|
n.a. |
|
|
|
110 |
|
|
|
50 |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
100 basis points decrease in price inflation |
|
|
n.a. |
|
|
|
n.a. |
|
|
|
(101 |
) |
|
|
(95 |
) |
|
|
- |
|
|
|
- |
|
|
| Aegon Ltd. [member] |
|
| Statement [LineItems] |
|
| Summary of Defined Benefit Plans |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
2024 |
|
|
|
|
Reimbursement rights retirement benefit plans |
|
|
49 |
|
|
|
50 |
|
|
|
|
Present value of the expected guaranteed premiums and management fees |
|
|
(33 |
) |
|
|
(44 |
) |
| |
|
|
Total Reimbursement rights |
|
|
|
|
|
|
|
|
|
|
|
Retirement benefit plans |
|
|
49 |
|
|
|
50 |
|
|
|
|
Other post-employment benefit plans |
|
|
2 |
|
|
|
3 |
|
| |
|
|
Total defined benefit liabilities |
|
|
|
|
|
|
|
|
|
| Summary of Movements of Defined Benefit Plans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
|
|
|
|
|
Movements during the year in defined benefit plans |
|
|
Retirement
benefit plans |
|
|
|
Other post-
employment
benefit plans |
|
|
|
Total |
|
|
|
Retirement
benefit plans |
|
|
|
Other post-
employment
benefit plans |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
50 |
|
|
|
3 |
|
|
|
53 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
Defined benefit expenses |
|
|
2 |
|
|
|
- |
|
|
|
2 |
|
|
|
2 |
|
|
|
- |
|
|
|
2 |
|
|
|
|
|
|
|
|
Remeasurements of defined benefit plans |
|
|
(3 |
) |
|
|
- |
|
|
|
(3 |
) |
|
|
(1 |
) |
|
|
(1 |
) |
|
|
(2 |
) |
|
|
|
|
|
|
|
Transfer from AEN |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
49 |
|
|
|
4 |
|
|
|
53 |
|
|
|
|
|
|
|
|
Other |
|
|
- |
|
|
|
(1 |
) |
|
|
(1 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
On December 31 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of Expected Guaranteed Premiums and Management Fees Net Defined Benefit Liability Asset |
|
|
|
|
|
|
|
|
|
Movements during the year of the present value of the expected guaranteed premiums and management fees |
|
|
|
|
|
|
2024 |
|
|
|
|
|
|
|
44 |
|
|
|
- |
|
|
|
|
Remeasurements of the defined benefit obligations: |
|
|
|
|
|
|
|
|
|
|
|
Actuarial gains and losses arising from changes in financial assumptions |
|
|
(9 |
) |
|
|
5 |
|
|
|
|
Benefits paid |
|
|
(2 |
) |
|
|
(1 |
) |
|
|
|
Transfer from AEN |
|
|
- |
|
|
|
40 |
|
| |
|
|
On December 31 |
|
|
|
|
|
|
|
|
|
| Commissions and expenses [member] |
|
| Statement [LineItems] |
|
| Summary of Movements of Defined Benefit Plans |
Defined benefit expenses are included in Post-employment benefit costs in note 13 Other operating expenses .
|
|
|
|
|
|
|
|
|
|
|
|
Movements during the year of the present value of the defined benefit obligations |
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
|
|
3,590 |
|
|
|
3,616 |
|
|
|
|
Current year service cost |
|
|
43 |
|
|
|
39 |
|
|
|
|
Interest expenses |
|
|
177 |
|
|
|
173 |
|
|
|
|
Remeasurements of the defined benefit obligations: |
|
|
|
|
|
|
|
|
|
|
|
- Actuarial gains and losses arising from changes in demographic assumptions |
|
|
21 |
|
|
|
6 |
|
|
|
|
- Actuarial gains and losses arising from changes in financial assumptions |
|
|
14 |
|
|
|
(217 |
) |
|
|
|
Benefits paid |
|
|
(237 |
) |
|
|
(237 |
) |
|
|
|
Net exchange differences |
|
|
(350 |
) |
|
|
208 |
|
|
|
|
Other |
|
|
- |
|
|
|
2 |
|
|
|
|
On December 31 |
|
|
3,257 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Movements during the year in plan assets for retirement benefit plans |
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
|
|
3,123 |
|
|
|
3,051 |
|
|
|
|
Interest income (based on discount rate) |
|
|
155 |
|
|
|
152 |
|
|
|
|
Remeasurements of the net defined liability (asset) |
|
|
32 |
|
|
|
(208 |
) |
|
|
|
Contributions by employer |
|
|
44 |
|
|
|
148 |
|
|
|
|
Benefits paid |
|
|
(210 |
) |
|
|
(200 |
) |
|
|
|
Net exchange differences |
|
|
(299 |
) |
|
|
180 |
|
|
|
|
On December 31 |
|
|
2,845 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Movements during the year of the fair value of the reimbursement rights |
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
|
|
9 |
|
|
|
20 |
|
|
|
|
Interest expenses |
|
|
3 |
|
|
|
3 |
|
|
|
|
Remeasurements of the defined benefit obligations: |
|
|
|
|
|
|
|
|
|
|
|
- Actuarial gains and losses arising from changes in financial assumptions |
|
|
12 |
|
|
|
(18 |
) |
|
|
|
Benefits paid |
|
|
4 |
|
|
|
4 |
|
|
|
|
Other |
|
|
- |
|
|
|
2 |
|
|
|
|
On December 31 |
|
|
28 |
|
|
|
9 |
|
|