Hopes of bankruptcy-proof provision via a basic pension/ürup pension vanish into thin air

– How creditors can seize complete assets – even without surrender value -.   In 2015, the basic pension, also known as the Rürup pension, will be even more tax-deductible – up to €22,172 instead of the previous €20,000; for married couples, this amount will double. An employee of the German Insurance Association, who is […]

Legal advice for your private pension provision

Private pension provision and its pitfalls Anyone who wants to take out insurance for old age cannot afford to ignore a private pension plan today. The standard of living with the statutory pension in the future is doubtful. A well thought-out concept for a private pension scheme is therefore equally important for self-employed and employees. […]

Pre-programmed old-age poverty despite additional private provision by those with compulsory insurance

– Why average earners only have prospects of receiving a basic security pension –   Anyone who is employed as a worker with a continuous income until the age of 67 can expect to receive a net pension amounting to 50% of their last net income when they retire in the not too distant future. […]

Retirement provision benefits companies and employees – savings pot for medium-sized companies

  More than ever before, every German citizen is responsible for his or her own retirement provision. The benefits of the statutory pension are by far not sufficient to even come close to maintaining the accustomed standard of living at retirement age. Even the Retirement Assets Act (AVmG) passed on 11 May 2001 is only […]

Retirement provision and asset planning

Private pension provision affects us all While 20 years ago bottle collecting pensioners were a rare sight on Germany’s streets, today they are already part of the everyday street scene. The results of a survey of the Deutsche Bank clearly show that already every second German citizenhas anxiety about this, no longer be able to […]

Occupational pension provision – to be used with caution

The Federal Minister of Finance (BMF, letter dated 28.09.2017 – draft dated 04.10.2017) announced the future treatment of incorrectly structured occupational pension schemes (bAV): According to this, special payments by the employer in the event of calculation errors by the provider are liable to pay income tax for employees. Employers and employees are thus doubly […]

Occupational pension provision: The imperative of equal value – void occupational pension provision?

bAV-Handelsblatt Forum: Invalidity of deferred compensation Dr.Reinecke, chairman of the pension senate at the Federal Labour Court (BAG), has dropped the bomb. Its core statement is that contracts for the implementation of occupational pension schemes can be (partially) null and void. Insurance intermediaries are surprised – have they been brokering ineffective contracts for years? The […]

Commentary: When private and occupational pensions cut provision

Survivors rub their eyes when the survivors’ pension of the German Pension Insurance (DRV) is reduced to zero after three months. Marriages entered into after 2002 or those where both spouses were born after 1962 are affected by this provision.   In these cases, 40 percent of the additional net income is offset, i.e. deducted […]

Occupational pension provision: Zillmerisation in the case of deferred compensation inadmissible

– Judgement of the Munich Regional Labour Court is legally binding – Appeal apparently withdrawn due to lack of prospects of success – Employer and intermediary are in a billion-euro liability –   Employer collects first – and pays twice later The Regional Labor Court (Landesarbeitsgericht – LAG) Munich (ruling of March 15, 2007, file […]