Does not include pension funds and most forms of direct insurance. For them, insurance supervision with strict investment rules ensures the continued existence of the ability to pay. The insurance covers both claims both one-time and ongoing services from a company pension. The claim for inflation adjustment is not secured. This automatic increase of operating pension payment after adjustment review of section 16 but not obligation shall only for employers, for PSV. So basically, the occupational pension scheme established by the PSV remains unchanged during the entire period.
There is also a maximum amount of claim: A claim for ongoing performance against PSV is a month not more than three times of the applicable at the time of the first due monthly base according to 18 of the social security code (SGB IV) fourth. This is 2009 in the new countries of 2.135,-and in the old countries 2.520,-. This upper limit mind you applies to employer-funded pension plans as well as for remuneration conversion plans. It is considered also absolute upper limit for insolvency security benefits from several commitments made by the employer-funded or pay transformation commitments. When there is a fuse? A fuse is when is opened insolvency proceedings against the assets of the employer, is been rejected the request for opening of the insolvency proceedings for lack or PSV has agreed to an out-of-court comparison of employer with its creditors to stave off insolvency proceedings. So only the case of the insolvency of a company affects the loss of insurance, and the obligation of the PSV for the pensioners of the operation begins with the month following on the fuse. Are companies in economic difficulties pensions once or several times not paid, without that the insolvency proceedings, is initially not a fuse.
First when, after months payment defaults in the occupational pensions, if finally the insolvency proceedings, pays the PSV. Then also retroactively up to 12 months prior to the bankruptcy. The insolvency administrator or the employer are required by the Act to report all necessary data of the pension the PSV in the event of insolvency. About three months later the payment of pensions by the PSV will resume then. This time needs to their individual pension rights to check the PSV and usually cause the payment record. Who buys the insurance? The insurance will be completed by the employer. It is shall a compulsory insurance according to 10 for all employers who either themselves or through one of the above named institutions have promised benefits for occupational retirement provision. Who is protected? Secured supply receivers are (pensioners) and scheme members with unverfallbarer entitlement. Scheme members are workers, former workers or Persons with a similar contractual relationship, the old-age, survivors or disability care services have been said to. For (co-), entrepreneur generally does not exist the backup. E.g. entrepreneurs, freelancers, personally liable partners (in particular shareholders and OHG shareholder), and majority shareholder of a corporation apply as such. Entitlements are secured, shall pursuant to 7 para 2 just before bankruptcy if they are vested under paragraph 1b shall. Fall for occupational retirement provision means that an employee in circumstances with the end of all employment loses his rights from the pension contract. By vesting is on the other hand, if an entitlement to post-employment benefits upon termination of employment. If the workers own reward has transformed into a pension, is always vesting. Other commitments the vesting of itself after the age (completion of the 30th, ab 2009 of 25 years) and the minimum five-year anniversary of the pension commitment.