Reduction of surplus in case of advertising with inflated example calculation inadmissible

– More than EUR 50 billion in additional claims possible for reduced maturity benefits – – Around 20 million affected with an average additional claim of up to more than EUR 10,000 per contract. Low interest rates destroy investment hopes for endowment life insurance policies For almost 10 years now, all investors in life insurance […]

Explosive liability risks for employers – reduced benefits for employees!

by Dr. Johannes Fiala, Munich “Today I bake, tomorrow I brew, and the day after tomorrow…” (Grimm’s fairy tale) Insecure pension “The pension is secure” proclaims the politicians. This was followed by an appeal to the citizens to build up a second pillar for old age, the occupational pension scheme (bAV) – in particular through […]

How far does the temporal benefit obligation of the daily sickness benefits insurance extend?

*by Dr. Johannes Fiala, Lawyer (Munich), Mediator (Univ.), MBA Financial Services (Univ.Wales), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Lecturer in Civil Law (Univ. of Cooperative Education), Banker (www.fiala.de) “There is known knowledge. These are things we know we know. There is known ignorance. That is, there are things we know […]

How far does the temporal benefit obligation of the daily sickness benefits insurance extend?

There is known knowledge. These are things that we know we know. There is known ignorance. That is, there are things we know we don’t know. But there is also unknown unknowing. These are things we don’t know we don’t know.? (Donald Rumsfeld) Risks of providing advice on cover for loss of capacity to work: […]

Retirement provision benefits companies and employees

Rudolf Becker and Johannes Fiala More than ever, every German citizen is responsible for his or her own retirement provision. The benefits provided by the statutory pension are no longer nearly sufficient to maintain the accustomed standard of living in retirement. Even the Retirement Assets Act (AVmG) passed on 11.05.2001 is only an inadequate way […]

Company pension scheme: Increase in risk due to maximum advertising promises by providers

– 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 […]

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. […]

Company pension scheme Managing director and shareholder-managing director

Loss of company pension scheme for managing directors in the event of insolvency The company pension scheme has increasingly become the focus of public interest in recent years due to changes and adjustments in pension policy. Politicians are increasingly shifting the issue of pensions into the personal responsibility of employees and employers, which means that […]

Pension funds and pension schemes reduce pension entitlements

– Why is it that no one is harmed? –   Reduction of pensions by pension funds and pension institutions Expectations regarding the level of benefits at pension institutions (PA) and pension funds (PK) have been steadily and foreseeably clouding over for many years. Section 314 of the Insurance Supervision Act (VAG) allows the Financial […]

Employers are still liable for their commitments to employees

When pension funds cut their own benefits For years, there have been more and more reports about the reduction of benefits in pension funds, life insurance companies and pension funds. Responsible actuaries, actuaries, are increasingly worried there. And rightly so, because employers could take recourse against these experts in matters of occupational pension calculation. After […]