Pension for artists provides long-term financial security
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Creating art doesn’t come with a pension scheme, so the Artist Pension Trust (APT) aims to provide contemporary artists with long-term financial security. Emerging artists can apply or be selected by APT’s expert curators to join one of the globally-distributed trusts, and each artist must contribute one piece annually for 20 years. Artists receive 72 percent of sales through APT — 40 percent goes directly to the artist, and the remaining 32 percent is redistributed amongst other artist trust members, in a pro-rata model. The remaining 28 percent covers the running costs of the non-profit APT, who provide a secure…
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