Why they are at risk from low interest rates and who is liable for them A new ruling by the Federal Labour Court (Bundesarbeitsgericht – BAG) confirms that employers are liable if a company pension scheme (bAV) sponsor reduces its benefits in accordance with its statutes. As a result of the continuing low level of […]
Artikel zum Thema: Pension funds
Employer liability for occupational pensions: Unequal rates for men and women
New ruling of the European Court of Justice (ECJ) The ECJ also obliges employers in occupational pension schemes to use only so-called “unisex tariffs” from 21 December 2012, for example when using direct insurance. Up to now, female employees have received a lower occupational pension than male employees for the same contribution, because men have […]
Private pensions: European Parliament increases the risk of insolvency
It was not only the financial market crisis since 2008 that led to the realisation that insurance companies need higher equity capital in accordance with the so-called Solvency II rules so that they can better bear a fall in the value of, for example, government bonds? 30% insolvency risk with Solvency II: If […]
Saving over time
From 2012 onwards, Riester savers will be obliged to contribute a minimum amount of 5 euros per month if they wish to continue receiving allowances and tax benefits in 2012. The following are thus abolished for spouses who are not gainfully employed and who are indirectly entitled to the allowance non-contributory contracts where only […]
Riester, Rürup, company pension schemes
What changes in 2012 Riester savers From 2012 onwards, Riester savers will be obliged to contribute a minimum amount of 5 euros per month if they wish to continue receiving allowances and tax benefits in 2012. This means that those non-contributory contracts for which only state allowances are paid in – but no personal […]
Unisex changeover 2013 – note new tariffs with immediate effect
Through the Occupational Pensions Act, the legislator has imposed an additional task on employers “as disinterested investment managers” of their employees and also holds them liable for this. The authors explain what employers, but also consultants involved in the human resources area of companies, must observe from 2012 in order to comply with the legislator’s […]
Employee damage due to company pension scheme
In a ruling of 15 March 2007 (reference number 4 Sa 1152/06), the Munich Regional Labour Court ordered an employer to reimburse a former employee for the difference between the “premium sum of converted wage contributions” and the “surrender value” at the end of the employment relationship. After about 3.5 years of deferred compensation through […]
Company pension scheme: Early termination of insurance contracts in the event of a change of employer
Reader A. S. asks: In the BC July 2007 issue, I read with great interest the article on occupational pensions and the employer’s obligation to offset losses in the case of deferred compensation. Following this, I invited our insurance agent to come in for a chat. He informed me inter alia: In the example case […]
Company pension scheme: Early termination of insurance contracts in the event of a change of employer
By Dr. Johannes Fiala and Thomas Keppel Reader A. S. asks: In the July 2007 issue of BC, I read with great interest the article on occupational pension provision and the employer’s obligation to offset losses in the case of deferred compensation. Subsequently, I invited our insurance agent for a discussion. He informed me, among […]
OLG Celle: Pension providers are directly liable to employees for pension gaps
Advice errors by intermediaries, including on pension disadvantages in the event of a change of employer, open up the possibility of legal action against insurers, provident funds, etc…. – *by Dr. Johannes Fiala, Attorney at Law (Munich), MBA Financial Services (Univ.), MM (Univ.), Certified Financial and Investment Advisor (A.F.A.), Lecturer for Civil and Insurance Law […]