Chamber professionals expect the abandonment of the expectancy procedure in the pension funds

– Why the capital market with compound interest effect does not allow us to expect higher pensions –   For years, insiders have been reporting difficulties in the pension funds in generating the promised returns to finance pensions. While the management of a Versorgungskammer used to pat themselves on the back year after year because […]

Loss of purchasing power, demographics and low interest rates destroy supply dreams

“The safest thing about the state pension is the pension gap.” (André Kostolany) If we compare the prospects of past and present pensioners with those of future generations of pensioners, we find that over the decades the legislator has roughly halved the provision via the German Pension Insurance Federation (DRV) in relation to the last […]

Up to more than 50 % less pension for chamber professionals

Around 90 pension funds, also known as pension chambers, are public corporations that collect funds from their “compulsory members” to build up a funded pension scheme. Past and foreseeable pension cuts challenge the system. The Higher Administrative Court of Lüneburg ruled that no compulsory member may stop paying contributions “because of an allegedly erroneous investment […]

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. […]

Dr. Fiala: Garnishment protection – the pitfalls in pension schemes, in Liechtenstein and Switzerland

  Tax consultants, doctors, dentists, architects, journalists and other freelancers have no other choice. You have to pay into professional pension funds or pension chambers for your pension. But how safe is the money you have saved up when creditors or insolvency administrators want to enforce their claims?   The financial news service asked […]

BGB-Leibrenten as the better alternative to private pension insurance

In some city archives historians find records of an annuity purchase – like these. What is behind it and what does it mean for us?   Since then In the 13th century, the purchase of annuities was the predominant credit business of the Middle Ages. The future pensioner bought the right to receive a life […]

Compensation for heirs in the event of failure to provide medical euthanasia

The Higher Regional Court of Munich (OLG, Az. 1 U 454/17, judgement of 21.12.2017) sentenced a family doctor to pay 40,000 € – inherited – compensation for pain and suffering for immaterial damages to the heir. The deceased had been artificially fed, among other things by a PEG probe, and kept alive for about 21 […]

Legal advice by insurance intermediaries: solutions for the broker’s practice

Liability for time value account models, fiduciary models, social security exemption and bAV fee advice   Prohibited legal advice leads to invalidity of contract In its judgment of 26 August 2010 (Case No. 2 C 995/09), the AG Schwäbisch Gmünd ordered a “consulting company for working time accounts” to repay the remuneration paid, as the […]

The tax consultant as a financial advisor – (k)a competition for financial service providers?

Time and again, tax advisors and lawyers try their hand at “investment advice” – occasionally not only for a fee but also for commission if the investment is successful. Conversely, insurance companies (e.g. when setting up a company pension scheme) and banks (e.g. for financial advice and succession planning) are increasingly offering the customer a […]

100 per mille brokerage fee: liability trap or suicide for insurance brokers?

– How pools deliver their insurance brokers as partners directly to the knife –   “We illuminate the market”: 100 per mille brokerage fee – “extremely favorable” ? A broker pool lures with a remarkably high brokerage fee – but unfortunately this does not matter for the broker liability: After all, the advertised product, a […]