By Nicholas Bora Published on: 25 June 2007 The Munich ruling is causing a stir: consumer protectionists are calling it a “breakthrough”, employers want legal certainty and, above all, no liability, insurers are cautious in their comments – and the aba wants to prevent occupational pension schemes from falling into disrepute. One thing is certain: […]
03.05.2007 The recently announced ruling on the zillmerisation of occupational pension tariffs (see link) is providing new fuel for the fire in the insurance industry. Brief background: In its ruling of 15 March 2007, the Regional Labour Court (LAG) in Munich decided that zillmerised tariffs are inadmissible in the context of employee-financed company pension schemes […]
If the company pension does not deliver what you were promised Every day we learn from politicians and the media that the statutory pension will at some point not be sufficient to maintain the accustomed standard of living in life after a professional career. Those of us who have taken out a company pension in […]
– What information, education and advisory duties are imposed on employers? – The Regional Labour Court (Landesarbeitsgericht – LAG Hamm, judgement of 06.12.2017, file no. 4 Sa 852/17) decided that the employer (AG) is liable for damages if the advice on deferred compensation in company pension schemes (bAV) was incorrect. This was the case even […]
Financial product distributors are increasingly promoting working time accounts and the models of partial retirement. The financial intermediaries are mostly concerned with commissions: Few brokers are aware of the civil and criminal liability risks. A time value account is not an implementation method of the company pension scheme. Rather, it is a matter of a […]
– Judgement of the Munich Regional Labour Court is legally binding – Appeal apparently withdrawn due to lack of prospects of success – Employer and intermediary are in a billion-euro liability – Employer collects first – and pays twice later The Regional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 […]
– On the design of insurance products in Europe – Brokers’ brokerage fees and agents’ commissions will fall as a result of the Life Insurance Reform Act (LVRG) – but at the same time there will be a shift in life insurance away from one-off to ongoing remuneration for agents. This is what Stuttgarter […]
Insurers are beating the drum for year-end business and advertising early unisex solutions. However, some intermediaries have a completely different problem. Particularly in the day-to-day business and in compensation, things are really sticking. portfolio international explains how the biggest pitfalls in everyday sales can be avoided. Shortly before Christmas, a more than 100-year-old practice of […]
Uncertainty in occupational pension provision: The ban on “hard zillmerisation” may also apply to occupational pension contracts The IV. Civil Senate of the Federal Court of Justice deals with inheritance and insurance contract law. On 25 July 2012, this senate, chaired by Barbara Mayen, made a decision that could have far-reaching consequences: In the ruling […]
Life insurers had looked to Erfurt like a rabbit to a snake. In mid-September, the Federal Labour Court (Bundesarbeitsgericht – BAG) had to decide whether deferred compensation agreements from before 2008 are invalid if zillmerised tariffs are used. Result: Gezillmermerte contracts do not automatically violate the principle of equal value (Ref.: 3 AZR […]
