The following text reproduces the television report of the programme plus minus from 19.09.2006: In order to strengthen private old-age provision, an employee’s right to deferred compensation was enshrined in law in 2001 in the case of occupational pension provision (Section 1 a of the Occupational Pensions Act). In addition, such payments receive tax and […]
*by Johannes Fiala, Lawyer (Munich), MBA Financial Services (Univ.Wales), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Lecturer (Univ. of Cooperative Education), Banker (www.fiala.de) Lawyers who work in sales do not get a licence: The Federal Court of Justice has (judgement of 15.05.2006, Az. Anw(Z) 41/05) currently confirms that lawyers are not […]
*by 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 (Univ. of Cooperative Education), Banker (www.fiala.de) The defendant asked his lawyer how long the whole affair was likely to take. Lawyer: “For me three hours and for you three years…” Again and […]
*by Johannes Fiala, Lawyer (Munich), MBA Financial Services (Univ.Wales), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Lecturer (Univ. of Cooperative Education), Banker (www.fiala.de ) and Dipl.-Math. Peter A. Schramm, Actuary DAV (Diethardt), Actuarial Expert (www.pkv-gutachter.de ) “Smile and be happy, it could be worse!” And I laughed and was glad – […]
*by Johannes Fiala, Lawyer (Munich), MBA Financial Services (Univ.Wales), M.M. (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Banker (www.fiala.de) The insurance intermediary (agent and broker) is not insured by a property damage cover (VSH) if he intentionally or knowingly breaches his duties. What does this mean for the intermediary’s practice? Knowingly breach […]
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 […]
*by Ralph C. Kiening (Bamberg), corporate consultant-bAV (www.betriebsrentenkasse.de) and Johannes Fiala (Munich), lawyer (www.fiala.de) Old-age poverty preprogrammed? A recent study by the German Institute for Retirement Provision (DIA) reveals that the statutory pension is no longer sufficient. However, almost 60 percent of all households do not provide sufficiently for their old age. Almost one third […]
by Johannes Fiala, Lawyer (Munich), M.B.A. (Univ.Wales), M.M. (Univ.), Certified Financial and Investment Advisor (A.F.A.), EC Expert (C.I.F.E.), Banker (www.fiala.de) If a provident fund becomes insolvent, it can be very expensive. For the employer and in recourse for the consultant. Once upon a time there was a U-Kasse in Ratingen. Today, you can only find […]
Two specialists in the field of company pension schemes (bAV) should be known to employers and intermediaries: Prof. Dr. Hans-Peter Schwintowski and the presiding judge at the Federal Labour Court (BAG), Dr. Gerhard Reinecke. Dr. Reinecke: The chairman of the pension senate at the BAG stands for the statement that the overwhelming majority of deferred […]
