Occupational pension provision – to be used with caution

The Federal Minister of Finance (BMF, letter dated 28.09.2017 – draft dated 04.10.2017) announced the future treatment of incorrectly structured occupational pension schemes (bAV): According to this, special payments by the employer in the event of calculation errors by the provider are liable to pay income tax for employees. Employers and employees are thus doubly […]

Beware of the BUZ!

The new VVG does not bring improvements in all cases   In the case of occupational disability insurance, the insurer can subsequently adjust the contract in the event of a breach of the pre-contractual duty of disclosure, to the detriment of the customer. The new VVG gives insurers a great deal of leeway here.   […]

Bank liability for investor damage or investor contribution to the subprime crisis

When selling, advising or brokering certificates and derivatives, special information is required to avoid liability towards investors. Credit institutions sold “guarantee” certificates and similar constructs to bank customers, for example the Lehman Brothers Bank, as a safe investment: numerous liability traps await bank and savings bank advisors.   I. Consultant incompetence and conditions trap Certificates […]

In focus: Liability traps for lawyers and tax advisors in connection with advice on occupational pension schemes

Insolvency risks – Authority to provide legal services – Insurance cover Occupational pensions are an important component of retirement provision. They obtain their complex position in the German legal system through the interdisciplinary interaction of the most diverse fields of law, which can easily become a liability trap for legal and tax advisors; the numerous […]

Typical gaps in protection in the financial loss liability insurance of the guardian

CONTENTS   I. Liability in the event of delegation of tasks II. Particular gaps in cover for voluntary guardians III Further questions regarding adequate insurance cover arise for the professional guardian: Consequences of partnership, cooperation and office sharing No pecuniary loss insurance for lawyers and tax advisors in the case of commercial activity as guardian […]

Insolvency resistance of company pension schemes Tax consultants are liable for incorrect advice

Numerous rulings indicate how easily tax advisors can be held liable in connection with advice on occupational pension schemes (bAV). One of the key issues in advising business managers is the insolvency-proof nature of the provision – it is precisely on this point that insurance sales spread numerous legal inaccuracies. Therefore, typical liability traps and […]

No occupational disability pension for GmbH managing directors despite pension commitment

Currently, the typical medium-sized GmbH (limited liability company) finds itself more and more often in a crisis situation because a managing director suddenly becomes incapacitated for work. An isolated incident? No, because insolvency administrators observe that the occupational disability of the managing director has become an increasing reason for insolvency. But what are the causes […]