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 secured by the statutory pension is questionable for the future. A well thought-out concept for a private pension scheme is therefore equally important for the self-employed and employees alike. Given the large number of offers, however, it is difficult to keep an overview and find a suitable provision model for the individual life situation. We increasingly see that our clients are dissatisfied with their existing contracts and the benefits they can expect. Furthermore, a large number of the contracts concluded do not meet the legal requirements or do not fit the life situation of the clients concerned.
How we can support you legally with your private pension provision:
As a matter of principle, we first review the insurance documents of your existing contracts. In a further, not-to-be-neglected step, we take from your account how the brokering of the contracts took place. Does it show deficits or gaps? For example, our clients often lack necessary documents, such as the documentation required by law since 21 May 2007.
How can you free yourself from disadvantageous contracts?
There are various levers that can be pursued after a thorough assessment: advisor liability, broker liability, agent liability, insurance broker liability, unwinding of the transaction, as well as revocation of the contracts. For example, advice is only correct if it is both complete and gap-free. Frequent deficits are found in the payout phase. The economic assessment is also often deficient: no growth in assets should be expected when even banks and insurers cannot generate positive interest on the capital market. This applies in particular when the expected administrative costs are 1% to 2% higher annually and acquisition costs are also incurred.
At the outset we clarify your legal situation for you and show you the prospects of success as well as the further course of action.
Holistic advice on provision for old age
As a law firm, we look at matters on the basis of our many years of economic experience. We advise you not only on legal issues affecting existing contracts, but also show you further ways to structure your private pension provision to suit your life circumstances.
Our services on private pension provision as a law firm
- Advice on insurance law
- Advice on pension models
- Explanations of funding schemes and investment models
- Advice on foundations, trusts & co.
- Reverse mortgages
- Advice on individual life annuity structuring
Summary on private pension provision
The law firm of Dr. Johannes Fiala advises you comprehensively on all matters concerning your private pension provision. We review your current pension situation and analyse your existing contracts. We also offer you the opportunity to receive comprehensive advice from us on further pension models. Of course, we take on your mandate to enforce any legal claims in court as well. Contact us without obligation and describe your current situation.
Helpful further articles on private pension provision
- Pre-programmed old-age poverty despite additional private provision by those with compulsory insurance
- BGB life annuities as the better alternative to private pension insurance
- Private and occupational pension schemes: deletion of valuation reserves remains on the agenda
Do you have questions?
Please don't hesitate to call us for an introductory conversation. I would be happy to take the time personally to review your case and give you an estimate of the effort involved.
That will already put you one step further!
You can reach us by phone at 089 / 17 90 900 or with a click on the button:
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Dr. Johannes Fiala
Your lawyer from Munich is reliable and competent, always by your side.
