– How can insured persons react to the increased risk of insolvency? – Up to more than one million English life insurance policies (with-profit products) are to be transferred to Ireland. However, on closer inspection it is completely unnecessary to leave Great Britain (GB) for the existing policies. Existing contracts need not be […]
The basic provisions granted by the legislator as a protective shield for old-age provision are not comprehensive. The approach of professional asset protection starts with the consideration of an early division of assets. By separating the professional risks within the framework of a corporation from the private assets, a liability block is created quite legally. […]
*by Ralph C. Kiening (Bamberg), corporate consultant-bAV (www.betriebsrentenkasse.de) and Johannes Fiala (Munich), lawyer (www.fiala.de) Old-age poverty preprogrammed? A recent study by the German Institute for Retirement Provision (DIA) reveals that the statutory pension is no longer sufficient. However, almost 60 percent of all households do not provide sufficiently for their old age. Almost one third […]
It was not only the financial market crisis since 2008 that led to the realisation that insurance companies need higher equity capital in accordance with the so-called Solvency II rules so that they can better bear a fall in the value of, for example, government bonds? 30% insolvency risk with Solvency II: If […]
“The right has the curious property that you can keep it without having it.” (Joseph Unger) Particularly in the case of deferred compensation, it is advisable to choose a reinsured provident fund (U-fund) as the carrier in the company pension scheme (bAV). However, experts agree that this involves additional acquisition and administrative costs that are […]
Insolvency application risk for pension commitments The so-called pension commitment or direct commitment is a common and extremely popular pension provision concept for managing directors, especially in medium-sized companies. Thousands of times thought of as a retirement provision for leading employees, this “tax savings model” was gladly recommended by tax consultants all over Germany and […]
– 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 […]
– 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 […]
– Why up to more than 95% of managing partners lose their pension- A new ruling by the Federal Court of Justice (BGH) dated 1 April 2013 (ref. IX ZR 176/76) shows that managing partners and controlling directors often face the complete or predominant loss of their pension as a retirement benefit despite “pledging the […]
– Why insurance contracts should be held by shareholders – For family entrepreneurs, the risk of insolvency has an annual probability of around 1%. Then an insolvency administrator takes over the management of the business, whereby a conflict is pre-programmed if the interests of the former managing director are different from those of the […]
