The Federal Labour Court (BAG, ruling of 18.02.2020, Ref. 3 AZR 206/18) decided that an employer did not owe compensation for damages simply because he had not correctly informed about social insurance contribution obligations at an information event, and simply because he did not even address the topic of social insurance. Then he did […]
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 […]
Employers are often liable to employees for company pension schemes
– 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 […]
How trust in the occupational pension scheme can be destroyed
Falsification and concealment of balance sheets are punishable under § 331 No. of the German Commercial Code (HGB). Famous examples of such manipulations would be the Olympus and Enron companies, or more recently P&R. The “Heubeck mortality tables RT 2018 G” (dated 20.07.2018) were allegedly erroneously prepared and later withdrawn – this was the responsibility […]
Occupational pension schemes do not prevent poverty in old age
– How will the severance pay for company pension schemes (bAV) be subsidised from 01.07.2016? – As of July 1, 2016, the severance payment of pension commitments on occupational pension schemes will be classified as pension benefits by the umbrella organisations of the social security system, Section 229 SGB V. This means that neither unemployment […]