The ATP Group Annual Report 2012

Management's Review Business Model Risk Pension Hedging and Investment Hedging Investment Administration Social Responsibility The ATP Group Financial StatementsNote 36 Related-party transactionsThe ATP GroupRelated parties of the ATP Group are associates and independentschemes managed by ATP. For an overview of associates, please refer tothe section 'Assets and risk factors'.Members of the ATP Supervisory and Executive Boards and their closefamily members are also regarded as related parties. Enterprises in whichthese persons have a controlling or significant influence are also regardedas related parties.No-one is considered to have a controlling or significant influence on theGroup.The Group has entered into the following related-party transactions:2012DKK millionSales *) Purchases *) PayablesReceivables/LoansContingentliabilitiesAssociates 431 260 0 689 261Independent schemes managed by ATP:The Employers' Reimbursement System (AER) 71 0 0 6 0FerieKonto 63 0 0 21 0The Employees' Guarantee Fund (LG) 68 0 0 8 0The Labour Market Occupational Diseases Fund (AES) 65 0 0 8 0Barsel.dk 34 0 0 4 0Udbetaling Danmark 267 0 0 76 0Tax reductions for senior citizens 11 0 0 0 0FIB 14 0 0 1 0Other parties 6 0 0 0 0Total related-party transactions 1,030 260 0 813 2612011DKK millionSales *) Purchases *) PayablesReceivables/LoansContingentliabilitiesAssociates 1,264 (304) 0 671 522Independent schemes managed by ATP:The Employers' Reimbursement System (AER) 74 0 0 9 0FerieKonto 72 0 0 16 0The Employees' Guarantee Fund (LG) 63 0 0 6 0The Labour Market Occupational Diseases Fund (AES) 59 0 0 9 0Barsel.dk 32 0 0 3 0Udbetaling Danmark 93 0 0 10 0Tax reductions for senior citizens 14 0 0 1 0FIB 14 0 0 0 0Other parties 8 0 0 1 0Total related-party transactions 1,693 (304) 0 726 0*Internal sales and purchases include administration services, interest rates and internal forward-exchange transactions.Sales to schemes comprise a number of administration functions, includingaccounting functions, IT operations and development and staff administration,etc. These amounts are also set out in note 13.Related-party transactions also comprise the statutory labour-marketpension for members of the ATP Supervisory and Executive Boards andtheir close family members, as well as enterprises in which these personshave significant interests.Overall payments to ATP in 2012 total DKK 0.0m (2011 DKK 0.0m)Transactions with associates comprise loans entered into and interestaccrued, which are settled on an arm's length basis (market terms).Transactions with related parties are settled on a cost-recovery basis forschemes. The transactions are subject to contractual agreement withATP.Remuneration details for the Board of Directors and the Manager are setout in note 9.The ATP Group – Annual Report 2012115