The ATP Group Annual Report 2012

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Management's Review Business Model Risk Pension Hedging and investment Hedging Investment Administration Social Responsibility The ATP Group Financial StatementsPercentage of +65-year olds receiving ATP Lifelong Pensionin 2011, broken down by age groupATP bonus rate 2008-2012Per centPer cent10080604020MenWomen2015105065 70 75 80 85 90 95 100 Age02008 2009 2010 2011 2012Groups outside ATPATP is a mandatory scheme for all wage earners and thevast majority of recipients of transfer income. A few groups– including the self-employed, recipients of voluntary earlyretirement benefits and recipients of benefits under the DanishFlexjob scheme (benefits paid for less demanding, publiclysupported jobs) – can opt to pay voluntary ATP contributions.The self-employed and students are the largest groups ofthe over-25s not covered by the ATP scheme on a compulsorybasis.Pensions to be maintained at 2012 levelsThe ATP Supervisory Board has decided, based on an assessmentof ATP's reserves – its bonus potential – to maintainpensions for 2013 at the 2012 levels.Automation, better communication and less paperDisbursement of ATP Lifelong Pension is automatic whenmembers reach the pensionable age under the state oldagepension system. Other communication with members isalso based increasingly on digital channels, primarily www.atp.dk.In partnership with e-Boks (electronic mail service for publicand private-sector companies), SKAT (Danish Tax and CustomsAdministration), and the Borger.dk and Virk.dk onlineportals, ATP will continue its efforts to target client serviceseven more effectively.The ATP Group – Annual Report 201230
Management's Review Business Model Risk Pension Hedging and investment Hedging Investment Administration Social Responsibility The ATP Group Financial StatementsImproved offer for disability pensionersPredictable pension, joint asset management and cost effective administrationMember development in 2012Deposits, contributions and payouts in 2012NumberDK MillionNumberMembers, beginning of year 96,300Additions- new members 9,400Departures- retired members 4,100- deceased members 1,100Members, end of year 100,500Contributions 1 503Payouts 184- converted to ATP 153 4,100- lump-sum benefits on death 31 1,100Total deposits, end of year 2,755 100,5001) After social-security contributionsThe Supplementary Labour Market Pension Scheme forDisability Pensioners (SUPP) offers disability pensionersparticularly attractive opportunities for saving for lifelongretirement. In 2012, when disability pensioners paid aSUPP contribution of DKK 157 a month, this amount wastopped up by the central government, contributing a furtherDKK 314 a month.Enrolment in the SUPP scheme is voluntary. Just overfour in ten disability pensioners have enrolled in the SUPPscheme at ATP and enrolment is increasingPayouts under the scheme totalled DKK 184m in 2012,DKK 153m of which was converted into ATP Lifelong Pension,while DKK 31m was paid out on death.Overhaul of the SUPP schemeSo far, the SUPP scheme has been a purely individual savingsscheme with no insurance elements. Savings underthe scheme were converted into ATP Lifelong Pensionwhen the disability pensioner reached retirement age underthe state old-age pension.As of 1 January 2013, the SUPP scheme at ATP will belinked more closely to ATP Lifelong Pension. At the sametime, SUPP's asset management will be pooled with thatof ATP.SUPP members get a predictable, guaranteed old-agepension, which is gradually built up through the accrualprocess. As an added benefit, the closer link to ATP willtranslate into lower expenses for SUPP members.As part of the overhaul, individual savings accounts willbe dismantled, and contributions for 2013 onwards will beused to acquire guaranteed lifelong pension rights at ATP.Existing individual savings accounts are converted intoguaranteed ATP lifelong pension rigths at 1 January 2013.Under the new rules, the period of disbursement on deathwill be extended to five years after the SUPP memberreaches retirement age under the state funded old-agepension. The amount to be disbursed is gradually scaleddown from the time the member reaches the retirementage under the state funded old-age pension, and after fiveyears there will be no disbursement. Previously, the estatereceived no disbursement on the death of a SUPP memberover the retirement age under the state funded old-agepension.Independent annual reportFor more information on the SUPP scheme, please refer tothe SUPP annual report at www.atp.dk.The ATP Group – Annual Report 201231
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