All guarantees, in whose security one lulls oneself, have no absolute value. After all, the decisive factors are the conditions and the legal framework for this, political legal certainty and the economic default risk of the guarantor. Guarantee certificates Looking for “total return investments” where you end up getting 100% of your investment back […]
Artikel zum Thema: Pension funds
Guarantees and safeguards: Worthless in the end?
Why do guarantees and security systems have to prove worthless in the end? All guarantees, in whose security one lulls oneself, have no absolute value. After all, the decisive factors are the conditions and the legal framework for this, political legal certainty and the economic default risk of the guarantor. Guarantee certificates Looking […]
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 […]
Commentary on judgement: No insolvency protection for bav of company owners
The Federal Labour Court (BAG, ruling dated 11 November 2014, ref. 3 AZR 404/13) decided when a pension commitment does not fall under the protection of insolvency insurance by the Pensionssicherungsverein aG (PSVaG) as a company pension scheme (bAV) because it is based on a position as a shareholder – and was therefore not issued […]
The Rürup fallacy
Why additional private provision is no guarantee of good care in old age In Germany there are currently 2.5 million people in need of long-term care. About 70% are cared for at home. The benefits of the statutory long-term care insurance in Germany are mostly at the level of a partial cover insurance. Better […]
Pension funds stress employers over their default liability to employees
There are increased liability risks for employers in around 87% of pension funds One way of implementing the company pension scheme is the Pensionskasse (PF). Because they are monitored by the Federal Financial Supervisory Authority (BaFin), employers in this case are spared having to contribute to the Pension Protection Association (PSVaG). If the employer becomes […]
Company pension via a foundation?
The forecasts for benefits of numerous private pension insurance policies have more than halved since they were taken out, which has only been the case since 1990, due to the sharp fall in interest rates in the meantime. This is no different in occupational pension schemes (bAV), which are largely organised via life insurance policies. […]
So-called guaranteed benefits in the pension scheme are absolutely not guaranteed
– What life insurance companies and pension funds are hiding from premium payers – Life insurance policies for occupational (bAV) and private (pAV) pensions, but also pension schemes, can provide far fewer benefits than promised or promised on paper. However, policyholders often have a claim for damages against the intermediaries and advisors or product […]
Only soft, no longer hard
Uncertainty in occupational pension provision: The ban on “hard zillmerisation” may also apply to occupational pension contracts The IV. Civil Senate of the Federal Court of Justice deals with inheritance and insurance contract law. On 25 July 2012, this senate, chaired by Barbara Mayen, made a decision that could have far-reaching consequences: In the ruling […]
Occupational pension scheme: Employers liable for poor returns
According to the ruling, employers are liable if an occupational pension provider – such as a pension fund – reduces its benefits in accordance with its statutes. As a result of the continuing low level of interest rates, virtually every employer with occupational pension commitments will soon have to reckon with this. What specific risks […]