Why private basic pensions often lead to losses for policyholders

A marketing expert remarked: “The best marketing agency is in Berlin – that is, the government”. First came the Riester pension with subsidised allowances, then the increasingly tax-deductible basic pension – also known as the Rürup pension. One financial services provider said: “The shift from state to private retirement provision is a growth market for […]

Protocols should ensure high quality advice

The Bundesgerichtshof (BGH, ruling of 13.11.2014, Ref. III ZR 544/13) has recently decided that the failure of the insurance broker to comply with the documentation obligation under Section 61 (1) of the German Insurance Supervision Act (Versicherungsvermittler). 1 sentence 2, § 62 of the German Insurance Contract Act (VVG) may lead to a shift in […]

Rürup pension: Frequent false advice from brokers

– When incomplete advice enables the complete reversal – The OLG Saarbrücken (judgement of 26.02.2014, file no. 5 U 64/13) decided that the insurance broker has to point out the differences between the Rürup or basic pension and other models of a flexible private pension (already: OLG Stuttgart, in: VersR 2007, 1069). For example, information […]