(k) a book with seven seals – summary of the main rules many employees provide occupational pensions developed following the insolvency of their employer to which over the years. A privately organised Club guests at once to place your previous employer to – pension assurance Association (PSV). This is to ensure the responsibility of the economy for the retirement benefits of employees and end of 2008 were at least 3.9 million operating pensioners and 6.1 million Versorgungsberechtigte with unverfallbarer projected under bankruptcy protection. The series of large corporate insolvencies in Germany will make fast the numbers for 2009 still evident in the height. What is insured? The pension is under the provisions of articles 7 et seq. Shall insured against the consequences of an employer's insolvency. Occupational retirement provision refers to services of the old-age, invalidity or survivor's pension which have been spoken to an employee by the employer.The claims are secured on Services for occupational retirement provision of immediate pension plans of the employer from pension funds, giving the workers a legal claim, from provident funds, which provide no legal claim the workers from certain direct insurance. The direct insurance must be life insurance on life and in favor of the employee that the employer has completed.
In addition, failures must arise. That means the rights must already be has been revoked or the claim arising from the Treaty must have been ceded by the employer, created, or pledged to third parties. The systems, their financial viability, crucially depend on the ability to pay of the employer are so protected. Direct commitments and support funds only have inadequate or no capitalization, direct insurance is not protected by the creditors of the employer and the Pension Fund is strong fluctuations due to the type of plant (largely shares) inferior, so that in case of crisis, margin of the employer are necessary.