In some city archives historians find records of an annuity purchase – like these. What is behind it and what does it mean for us? Since then In the 13th century, the purchase of annuities was the predominant credit business of the Middle Ages. The future pensioner bought the right to receive a life […]
Artikel zum Thema: Privatrente
Every retirement plan on one leg is dangerous
Are state parliamentarians threatened with poverty in old age? Trade union pension experts complained in 2018 that members of a state parliament received 3.675% p.a. of their diets as a pension under the pension law in force until 2007, with a calculated income of EUR 8,220 after five years, i.e. EUR 1,510 as a pension. […]
How an ex-business wise man got it wrong about bond yields
In a daily newspaper of 8 October 2018, an ex-professor for financial and economic policy recommends increasing the “spread of funded occupational pensions” (2nd pillar) and “pressing for the offer of a low-cost standard private pension product” (3rd pillar). The main argument for this was a comparison of the “total collective” of those insured with […]
Don’t pay too much
The Federal Social Court (BSG, ruling of 10.10.2017, Ref. B 12 KR 2/16) decided that no health insurance contributions are owed on benefits from a voluntary supplementary occupational disability insurance and/or private pension insurance. In the case decided, the plaintiff has been drawing a BU pension since 2008. All of a sudden, sometime in 2011, […]
Why are insurance agents and insurance brokers liable for underperformance?
The Social Court of Dresden (judgement of 09.03.2017, file no. S 39 VE 25/14) decided that if private provision by (accident) pension insurance coincides with pension entitlement under the Victims’ Compensation Act (due to a criminal offence suffered), partial crediting takes place. The victim’s pension of € 708 was reduced by about € 580 (part […]
Are you really well advised?
When it comes to a >g id=”gid_0″>successful retirement provision, insurance agents or brokers are usually the first people to contact. In some cases a complete reversal of the contract is possible. 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 […]
Statutorily insured without occupational abandonment
The most important information on compulsory health insurance and pension insurance for the self-employed The Federal Social Court (BSG, ruling of 29.07.2015, Ref. B 12 KR 4/13 R) ruled that the mere performance of duties as a body of a corporation (AG, GmbH) without further active involvement in the GmbH beyond that does not constitute […]
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 […]
Compulsory insurance in KV and RV for self-employed persons
– How the self-employed can take out statutory insurance even if they do not have a job – The Federal Social Court (BSG, ruling of 29.07.2015, Ref. B 12 KR 4/13 R) ruled that the mere performance of duties as a body of a corporation (AG, GmbH) without further active involvement in the GmbH […]
The fairy tale of the unprofitable German pension insurance scheme
– When a funded pension would be comparable – The Deutsche Rentenversicherung Bund (DRV) lets its insured know that voluntary contributions in particular lead to an annual pension of 5.18%. In many cases, it is nonsensical to compare returns, as this would require consideration of the increasing payouts, including increasing life expectancy. The answer […]