Search results for: Company participation

Company pension scheme (bAV) and working time account models (ZWK) – New BGH ruling on reversal in the case of capital investment in closed participations

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*by Dr. Johannes Fiala, Lawyer (Munich), Mediator (Univ.), MBA Financial Services (Univ.Wales), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Lecturer in Civil and Insurance Law (Univ. of Cooperative Education), Banker (www.fiala.de) You can’t solve a problem with the same mindset that created it. (Albert Einstein) Also renowned offerers of closed participation […]

Stress test by financial regulator leads life insurance company into insolvency

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– What are the scenarios of settlement in insurance due to low interest rates ? –   Customers of life insurers are shaken: on 16.12.2014, the business press reported that a Swiss life insurer had now filed for insolvency, and had become a victim of low interest rates. The 13,000 policies were taken over by […]

Company pension scheme: Increase in risk due to maximum advertising promises by providers

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– Employer liability for defined benefit plans, defined contribution plans, defined contribution plans with minimum benefit –   Using sample calculations for illustration, employers and employees are usually promised exaggerated pensions and increases in the value of occupational pensions (bAV). The external providers of occupational pensions (insurers, Pensionskassen, pension funds) are the most closely monitored […]

Liability risks for employers when changing jobs and taking over company pension schemes (bAV)

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– Pension capital transfer or change of policyholder – decision between plague and cholera –   In purely statistical terms, the length of service of an employee is just under five years. If the employee has a pension plan, he or she will be able to take it with him or her to the new […]

Reversal of closed participations and life insurances through rescission, revocation and termination?

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– How capital investors can be deceived systematically also by “money back! order” –   Current BGH ruling on the invalidity of “money-back orders The Federal Court of Justice (BGH. Judgment of 11.12.2013, Ref. IV ZR 46/13) ruled that the purchase of “used” life insurance policies is null and void unless it is a genuine […]

Reduction of the valuation reserves or profit participation

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The Regional Court of Stuttgart (Stuttgart Regional Court, ruling of 20 December 2017, file no. 16 O 157/17) ordered an insurer (VR) to pay the policyholder (VN) of a life insurance policy (KLV) the “valuation reserves (profit participation) that were eliminated as of the reporting date 1 November 2014”.   The contract for the KLV […]

The entrepreneurial obligation to introduce a company pension scheme (bAV) in accordance with the Company Pensions Act since 01.01.2001

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The entrepreneurial obligation to introduce a company pension scheme (bAV) in accordance with the Company Pensions Act since 01.01.2001   The legal invalidity of the commitments and the potential risk of criminal liability of the management in the event of the use of zillmerized tariffs “Any cooperation is difficult as long as people are indifferent […]

Federal Labour Court: Ineffective restriction on widow’s benefits in company pension scheme

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The Federal Labour Court (Bundesarbeitsgericht, BAG, judgment of 30 September 2014, Case No. 3 AZR 930/12) ruled that the general terms and conditions contained in a pension commitment, according to which the granting of a widow’s pension requires that the beneficiary “has predominantly provided for the maintenance of the family”, were in breach of the […]

The capital-weak Cinderella GmbH for the exemption of company pension claims

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– How employees can lose their company pension completely from one day to the next –   In occupational pension schemes (bAV), most employees are in the position of a lender, because the employer regularly has at best a fraction of the necessary funds set aside for a specific purpose. Usually, the employer does not […]

Commentary on judgement: No insolvency protection for bav of company owners

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The Federal Labour Court (BAG, ruling dated 11 November 2014, ref. 3 AZR 404/13) decided when a pension commitment does not fall under the protection of insolvency insurance by the Pensionssicherungsverein aG (PSVaG) as a company pension scheme (bAV) because it is based on a position as a shareholder – and was therefore not issued […]