Law On The Certification Of Retirement And Basic Pension Contracts

Original Language Title: Gesetz über die Zertifizierung von Altersvorsorge- und Basisrentenverträgen

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Act on the certification of old-age pension and basic pension contracts (Retirement Pension Certification Act-AltZertG)

Non-official table of contents

AltZertG

Date of expend: 26.06.2001

Full quote:

" Age pension certification act of 26. June 2001 (BGBl. 1310, 1322), as defined by Article 2 (8) of the Law of 1. April 2015 (BGBl. I p. 434) "

:Last modified by Art. 15 G v. 25.7.2014 I 1266
Note:Amendment by Art. 2 para. 8 G v. 1.4.2015 I 434 (No 14) in a textual, documentary yet non-exhaustive

See the menu under Notes
for details on the stand.

Footnote

(+ + + Text evidence from: 1.8.2001 + + +)
(+ + + For application see § 14 (6) + + +)

Heading: IdF d. Art. 23 No. 1 G v. 19.12.2008 I 2794 mWv 25.12.2008
The G was considered to be Article 7 G 860-6-19 v. 26.6.2001 I 1310 (AVmG) approved by the Bundestag with the consent of the Bundesrat. It's gem. and in accordance with d. Art. 35 (5) of this G mWv 1.8.2001 entered into force. Non-official table of contents

§ 1 Definitions of the retirement pension agreement

(1) A retirement pension agreement within the meaning of this law is provided if: between the provider and a natural person (contractual partner) an agreement in German is concluded,
1.
(omitted)
2.
which calculated for the contractor a lifetime and regardless of gender Pension provision, which does not provide for the completion of the 62. Year of life or prior to completion of the 62. Benefit from a statutory pension scheme of the contracting partner (commencement of the payment phase) may be paid; benefits from a supplementary protection of reduced earning capacity or incapacity for invalidity and an additional protection of the survivors may be agreed; survivors in this sense shall be the spouse, the life partner and the children for whom the contract partner is a member at the time of the entry of the supply Entitlement to child benefit or an allowance pursuant to section 32 (6) of the Income Tax Act should have been granted; the right to an orphan's pension or an orphan's pension may be in place for the period in which the pensioner is entitled to the conditions for the To be considered as a child within the meaning of § 32 of the Income Tax Act;
3.
in which the provider agrees that at the beginning of the payment phase at least the for the payment phase, and are used for the provision of services, provided that the contribution shares to hedge the reduced earning capacity or incapacity to work or to the Survivor security shall not be taken into account for up to 20 per cent of the total contributions in this connection; this shall also apply in the event that the capital formed at the beginning of the payment phase referred to in point 10 (b) shall be applied to the is transferred to another retirement pension contract;
4.
the monthly benefits for the contract partner in the form of a
a)
Life-long Leibrente or installment payments as part of a payout plan with a subsequent Partial capital retirement from the latest 85. The benefits must remain the same throughout the period of payment; providers and contractors may agree that up to twelve months ' benefits shall be combined in a disburnable payment or a contract shall be concluded between the parties and the contract; Small-amount pension is found in accordance with § 93 (3) of the Income Tax Act; up to 30 percent of the capital available at the beginning of the payout phase can be paid out to the contractual partner outside the monthly benefits; the separate payment of interest and income accrued during the payment phase is permitted;
b)
Lifelong reduction of the monthly usage fee for one of the The contract partner shall provide for a cooperative flat or a temporary reduction with a subsequent partial capital retirement from the latest at the latest 85. The benefits must remain the same during the whole period of payment or increase; in this case, the benefit must be paid by the payment of further shares in a registered cooperative; the further business shares shall be deemed to have been terminated at the beginning of the payment phase; letter (a) substitutes 3 to 5 shall apply accordingly;
5.
the acquisition of further shares shall be deemed to be terminated. Business shares in a registered cooperative only permit if the contracting party has used a cooperative apartment of the provider on its own at the time of the conclusion of the retirement pension agreement and in the nine months before that and when acquiring further shares in a registered cooperative, it provides that
a)
in the case of the task of the self-use of the cooperative housing, the exclusion, the expelling of the member or the dissolution of the cooperative shall be given the possibility that at least the paid-up retirement benefits and the credited income transferred to a retirement pension contract to be determined by the contracting party, and
b)
the amount of the additional shares of the business Income is not disbursed but is used for the acquisition of further shares;
6. and 7.
(omitted)
8.
which provides that the total cost of the financial statements and sales shall be distributed equally at least for the first five years of the contract, in so far as they are not deducted as a percentage of the pension contributions;
9.
(omitted)
10.
which grants the contract partner up to the start of the payout phase,
a)
let the contract rest,
b)
to terminate the contract with a period of three months at the end of a calendar quarter or at the beginning of the payout phase in order to raise the capital to another on its Name a retirement pension contract to be transferred with a contract design after this paragraph of the same or another provider, or
c)
with a deadline to request a payment of the capital formed for use within the meaning of Section 92a of the Income Tax Law from three months to the end of a quarter of a calendar year;
to the extent that it is the acquisition of further shares of a business in a Co-operative, the first half-sentence shall apply with the proviso that the further business shares may be terminated with a period of three months at the end of the financial year and the payment of the additional shares to the other business shares cancellation of the business credit within six months after the date of the termination of the contract;
11.
which, in the case of the reduction of the monthly Payment of use for a cooperative apartment used by the contracting party itself to the contractual partner in the event of the self-use of the cooperative apartment in the payment phase a claim is granted, the contract with a deadline of no longer for three months at the end of the financial year, in order not later than six months after the date on which the termination takes effect, the capital not yet consumed shall be resigned to another pension contract of the same or of the same
An old-age pension agreement within the meaning of this Act may also be concluded between the provider and the contractual partner on the basis of a framework contractual agreement with an association, If the beneficiary satisfies the conditions laid down in § 10a of the Income Tax Act. In the event of a transfer of the capital announced in accordance with the first sentence of point 10 (b), it is inadmissible that the supplier of the previous pension contract shall charge the contract partner with a cost of more than EUR 150. In the calculation of the financial statements and distribution costs, the provider of the new retirement pension contract shall not exceed 50 per cent of the transferred capital received at the time of transfer pursuant to Section 10a or Section XI of the Income Tax Act. (1a) As an age-care contract, a contract is also applicable,
1.
the contract for the The contract partner provides for a right to grant a loan,
2.
which grants the contract partner a legal right to grant a loan, as well as the loan contract based on that contract; the contract may also be combined with a contract design referred to in paragraph 1 to a single contract,
3.
the The contracting party grants a right to grant a loan and is irrevocably agreed that this loan will be redeemed by old-age pension funds provided for in an old-age pension agreement as referred to in paragraph 1 or 2 The loan shall be deemed to be a single contract.
The loan shall be deemed to be used for housing purposes within the meaning of Section 92a (1) (1) of the Treaty. of the Income Tax Act and shall be completed at the latest by the completion of the 68. of the contract partner's life year. The first sentence of paragraph 1, point 8 shall apply mutatily.(2) Providers of an age-care contract within the meaning of this law are
1.
with registered office in Germany:
a)
Life insurance companies, as far as they are allowed to do so under the Insurance Supervision Act in the version of the notice of 17. December 1992 (BGBl. 1993 I p. 2), as last amended by Article 11 of the Law of 28 June 1992. May 2008 (BGBl. 874), as amended,
b)
Credit institutions which have a permit to operate the deposit business within the meaning of Article 1 (1) sentence 2 No. 1 of the Banking Act,
c)
Building savings banks within the meaning of the Act on building societies in the version of the Notice of 15. February 1991 (BGBl. 454), as last amended by Article 13a (3) of the Law of 16. July 2007 (BGBl. 1330), as amended,
d)
External capital management companies within the meaning of Article 17 (2) (1) of the Capital investment code;
2.
based in another State of the European Economic Area:
a)
Life insurance companies as defined in Directive 2002/83/EC of the European Parliament and of the Council of 5 November 2002 on life assurance (OJ L 327, 28.12.2002, EC No 1), as last amended by Directive 2007 /44/EC of the European Parliament and of the Council of 5 June 2007 on the European Parliament and of the Council of the European Communities 1 September 2007 (OJ L 327, EU No 1), in so far as they are allowed to operate in domestic business in accordance with Section 110a (2) and (2a) of the Insurance Supervision Act,
b)
Credit institutions in the sense of Directive 2006 /48/EC of the European Parliament and of the Council of 14 June 2006 June 2006 on the taking-up and pursuit of the business of credit institutions (OJ L 327, 30.4.2006 EU No 1), as last amended by Directive 2007 /64/EC of the European Parliament and of the Council of 13 June 2007 on the European Parliament and of the Council of the European Communities 21 November 2007 (OJ L 327, EU No 1), in so far as they are allowed to operate in domestic business in accordance with Section 53b (1) sentence 1 of the Banking Act,
c)
Administration or Investment companies within the meaning of Council Directive 85 /611/EEC of 20 June 1991. 2 December 1985 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (OJ L 327, 31.12.1985, p. EC No 3), as last amended by Directive 2005 /1/EC of the European Parliament and of the Council of 9. 1 March 2005 (OJ L 327, EU No 9)
3.
, located outside the European Economic Area, to the extent that the branches are subject to the conditions set out in Section 105 (1) of the Insurance supervision law or § 53, also in connection with § 53c, of the Banking Act, domestic branches of life insurance companies or credit institutions which have a permit to operate the deposit business in the The terms of Section 1, Section 1, Sentence 2, No. 1 of the Banking Act;
4.
Cooperatives registered in the register of cooperatives,
a)
after a peer review of the audit association from which the cooperative is audited. , no findings are to be made to limit the regularity of the management, there are no facts which could endanger the existence of the cooperative or substantially affect its development and which do not There is evidence that the retirement pension contracts concluded by the Cooperative are not properly fulfilled,
b)
which is either a permit in accordance with the Law on Credit Services, or if they offer the services referred to in the first sentence of paragraph 1 (4) (b), the purpose of which is to provide housing to their members, and the fulfilment of the obligations referred to in the first sentence of paragraph 1, point 3 and 10 by insurance in respect of an insurance undertaking authorised to operate in the scope of this law or by promising a payment promise of a credit institution empowered to operate in the scope of this law or secured by means of a security pursuant to § 7d sentence 5; the security can be limited to EUR 20 000 per contract; and
c)
the statutes of which, on the one hand, are a participation with a number of business shares and, on the other hand, for members who have acquired further shares for the purpose of carrying out an old-age pension contract, no obligation to do so with regard to these further shares of the business Surpluses for insolvency or further deposits pursuant to Section 87a (2) of the Cooperative Act or for loss-making in the sense of Section 19 (1) of the Cooperative Act and no longer period of notice than that of Section 65 (2) of the Cooperative Act. Sentence 1 of the Cooperative Act and does not provide for any deviating arrangements for the disbursment of the disassembly credit within the meaning of Section 73 (4) of the Cooperative Act; the existence of these conditions is due to the Examining Association, the cooperative shall be examined
services institutions and credit institutions domicated in Germany who do not permit the operation of the deposit business within the meaning of Article 1 (1), second sentence, No. 1 of the , and investment services undertakings within the meaning of Directive 2004 /39/EC of the European Parliament and of the Council of 21 June 2004 on the implementation of the provisions of the European Parliament and of the Council of the European Communities 1 April 2004 on markets in financial instruments, amending Council Directives 85 /611/EEC and 93 /6/EEC and Directive 2000 /12/EC of the European Parliament and of the Council and repealing Council Directive 93 /22/EEC (OJ L 136, 31.5.2000, p. EU No L 145 p. 1, 2005 No 18), as last amended by Directive 2007 /44/EC of the European Parliament and of the Council of 5 June 2007 on the European Parliament and of the Council of the European Communities 1 September 2007 (OJ L 327, EU No 1), having its registered office in another State of the European Economic Area, may be a provider if it is
1.
according to your permission scope, do not fall under the exceptions pursuant to § 2 (7), 7a or 8 of the Banking Act or in the case of investment service companies comparable restrictions on prudential supervision in the other State of the European Economic Area,
2.
an initial capital within the meaning of Article 4 (2) (a) 1 (51) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013. June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 646/2012 (OJ L 327, 22.9.2012, p. 1) (initial capital) in the amount of at least EUR 730 000 and
3.
only apply the funds under the terms of the retirement pension contract in the case of credit institutions within the meaning of the sentence 1.
(3) The certification of an old-age pension contract under this Act is the determination that the terms and conditions of the retirement pension contract are referred to in paragraph 1, 1a or both paragraphs, as well as the § § § 2a and the supplier shall comply with the requirements of paragraph 2. A certification within the meaning of § 4 (2) sentence 1 shall only determine the conformity of the contract with the requirements of paragraph 1 or 1a or both.(4) (5) Capital in the sense of this law is
a)
in the case of insurance contracts calculated according to the recognized rules of actuarial actuarial with the accounting basis of the costing calculation, the cover capital of the insurance plus already allocated surplus shares, of the transferable value from Final surplus shares, as well as the valuation reserves to be allocated under section 153 (1) and (3) of the Insurance Contract Law, § 169 (6) of the Insurance Contract Law applies accordingly; in the case of funds-linked insurance companies and other Insurance which provides for the benefits of the kind referred to in § 54b of the Insurance Supervision Act, by way of derogation from this, the sum of the existing value of the units of interest and of the galvanest contribution made in the other assets-and Parts of the contract, minus the tariff costs, plus any surplus shares, of the transferable value from final surplus shares and the amount to be allocated pursuant to Article 153 (1) and (3) of the Insurance Contract Law Valuation reserves,
b)
for investment contracts, the value of the fund parts at the cut-off date,
c)
in the case of savings contracts, the value of the Guthabens including the interest that has arisen up to the date,
d)
for business shares in a cooperative of the respective purchase price; for contracts referred to in paragraph 1a, first sentence, item 3, minus the loan, unless it is not yet redeemed
deductions, insofar as they are not provided for in this law, are not permitted. For the purposes of Section 2a, first sentence, point 1 (b), only the capital which is irrevocably allocated for the provision of services shall be taken into account.

footnote

(+ + + § 1: To be applied to the application). Changes d. Art. 2 No. 1 G v. 24.6.2013 I 1667 cf. Section 14 (6) + + +) Non-official table of contents

§ 2 Definitions of the basic pension agreement

(1) A basic pension agreement in the sense of this law shall be in place if an agreement is concluded between the supplier and a natural person (contractual partner) in the German language which is subject to the conditions laid down in Article 10 (1) (2) (b) (aa) of the Income Tax Act. This shall apply if, in order to establish a capital-covered occupational pension provision, an agreement which meets the requirements of Section 10 (1) (2) (b) (aa) of the Income Tax Act, between the provider and the the employer shall be closed to the benefit of the worker.(1a) A basic pension contract within the meaning of this Act shall also be provided if an agreement is concluded between the provider and a natural person (contractual partner) in German, which is subject to the conditions set out in § 10 (1) (2) Point (b), double letter bb of the Income Tax Act, and provided that the provider
1.
a partial reduction of the workforce is recognized if it is predicted that the contracting party is likely to be responsible for illness, physical injury or disability for at least is not able to be employed for at least six hours per day under the usual conditions of the general labour market or to recognise a full reduction in the labour force if it is predicted that the contracting party will be in the case of illness, physical injury or disability, it is likely that for at least 12 months it is not capable of working at least three hours per day under the usual conditions of the general labour market; the insured performance in the event of a partial reduction in employment, is to be at least half and in the case of full employment reduction in full;
2.
from the calendar month, to which The beginning of the partial or full reduction in the labour force has occurred, if the performance has been completed by the end of the 36. If the application is filed at a later date, the performance shall be granted from the calendar month of 36 months before the month of the month of the month of entry. Application;
3.
at the request of the contracting party, the contributions for the protection of the partial or full reduction in employment as from the date of the assertion of the Claims for a partial or full reduction in employment up to the final decision on the obligation to pay interest without interest and without other conditions;
4.
for the Protection of partial or full employment reduction on the right of termination in accordance with Section 19 (3) sentence 2 and the right of amendment in accordance with Section 19 (4) of the Insurance Contract Law shall be waived if the contractual partner owes his/her obligation to notify injured; and
5.
the contractual partner's medical obligation to participate in the determination and after the determination of the partial or full loss of employment Reasonable and medically indicated medical examination and treatment services are limited.
(2) Providers of a basic pension contract within the meaning of this Act are the providers within the meaning of Section 1 (2), including the pension funds in the The sense of Section 118a of the Insurance Supervision Act, as well as the pension fund within the meaning of Section 112 of the Insurance Supervision Act.(3) The certification of a basic pension agreement under this law is the determination that the contractual terms of the basic pension agreement correspond to paragraph 1 or the paragraph 1a as well as to § 2a and the provider meets the requirements of § 2 para. 2 . A certification within the meaning of § 4 (2) sentence 1 shall only determine the conformity of the contract with the requirements of paragraph 1 or of paragraph 1a, as well as the § 2a.(4) (omitted)

footnote

(+ + + § 2: for application d. Changes d. Art. 2 no. 2 G v. 24.6.2013 I 1667 cf. § 14 (6) + + +) Non-official table of contents

§ 2a Cost structure

A pension agreement or a basic pension may be concluded exclusively provide the following cost types:
1.
Cost of completion and distribution, and Administrative costs side-by-side in the following forms:
a)
as an annual or monthly Costs in euros;
b)
as a percentage of the capital formed;
c)
as a percentage of the the agreed building savings or the agreed loan amount;
d)
as a percentage of the contributions paid or agreed upon; or Redemption services;
e)
as a percentage of the housing account's stand;
f)
from the beginning of the Payment phase as a percentage of the power paid;
2.
the following cost-related charges:
a)
for contract termination with contract change or payout;
b)
for the use of the capital formed in accordance with § 92a of the Income Tax Act;
c)
for Tasks related to the supply balance of the contractual partner.
125 of the Investment Act is not applicable to retirement pension contracts.

Footnote

(+ + + § 2a: For application see § 14 (6) + + +) Non-official Table of Contents

§ 3 Certificate Authority, Tasks

(1) Certification Body is the Federal Central Office for Taxes.(2) The certification body shall decide on the certification as well as the withdrawal and revocation of the certification by the certification body. It establishes a simulation method that determines the opportunity-risk class for an old-age pension contract or a basic pension agreement. At the request of a provider, it shall carry out calculations of this procedure with respect to the tariffs of an old-age pension or a basic pension contract.(3) The Certification Body does not examine whether an old-age pension or a basic pension contract is economically viable and the provider's commitment can be fulfilled and whether the terms of the contract are effective in civil law.(4) The certification body shall carry out the tasks assigned to it in accordance with this law only in the public interest. Non-official table of contents

§ 3a Product information point of retirement provision

(1) The Federal Ministry of Finance is authorized to perform the tasks according to § 3 (2), second sentence, and 3 of a private law legal person (Product Information Centre), in full or in part, by means of the order of reference. It is not subject to the instructions of the Federal Ministry of Finance. If, in the exercise of the duties assigned to it on the basis of this Act, it violates the duties which it imposes on a third party, it shall be liable alone. The product information point for old-age provisions shall only be liable for intent or gross negligence. § 9 shall apply accordingly.(2) The Product Information Centre for the provision of old-age provisions must not act on the basis of a profit-making intention and must guarantee the performance of the tasks assigned to it under this Act. It is exempt from corporate income tax and trade tax. The articles of association or the social contract of the Product Information Office for the provision of old-age provisions and their amendments are subject to approval by the Federal Ministry of Finance. The persons who are appointed to the management and representation of the Product Information Office in accordance with the law or the statutes of the Product Information Office must be able to carry out their duties reliably and in order to carry out their duties.(3) The Product Information Centre for pensions may charge fees on the basis of a rate of charge in order to cover the administrative costs incurred. The fee rate is subject to the approval of the Federal Ministry of Finance. Non-official table of contents

§ 4 Application, Supplementary Requirements, Supplementary Display, Exclusion periods

(1) Certification is made at the request of the Provider. The application must be submitted:
1.
Documents proving that the terms of the contract are in accordance with § 1 (3) or § 2 para. 3;
2.
a certificate issued by the competent supervisory authority on the extent of the authorization and in the case of companies within the meaning of section 1 (2) sentence 3 in addition to the extent of the supervision and the amount of the initial capital (§ 1 para. 2 sentence 3 nos. 1 and 2); in the case of a provider within the meaning of § 1 (2) sentence 1 no. 4, a register extract, the statutes and the expert's
() At the request of a leading association of the providers referred to in § 1 (2), the certification of a contract that can be used exclusively as a model can be carried out. The application must be accompanied by the documents proving that the contractual terms of the model contract are certifiable in accordance with § 1 (3) or § 2 (3).(3) A leading association of the providers referred to in Article 1 (2) may, acting as the authorized representative of its member companies, submit the applications referred to in paragraph 1 for these. From the submission of the documents to
1.
paragraph 1, second sentence, no. 1 may be waited if: The contract is an already certified model contract as referred to in paragraph 2;
2.
Paragraph 1, second sentence, no. 2 may be waived if the leading association is in writing shall ensure that the certificate referred to therein is available to him for his or her member company.
The authorised representative must, at the request of the certification body, prove his attorney in writing and the documents referred to in the second sentence of paragraph 1 of this Article and 2.(4) The fee in accordance with § 12 shall be payable when the application is lodged.(5) Missing particulars or documents shall be requested by the certification authority within three months as a supplementary indication (supplementary request). Within three months of receipt of the Complementary Request, the Complementary Indication of the Certification Body shall be refunded; otherwise, the Certification Body shall reject the certification request. The period referred to in the second sentence shall be an exclusion period. Non-official table of contents

§ 5 Certification of retirement pension agreements

The certification body issues the certification in accordance with § 1, para. 3, if: you have the necessary information and documents in accordance with this law, as well as the terms and conditions of the retirement pension contract, § 1 (1), 1a or both paragraphs, as well as § 2a, and the provider complies with the requirements of § 1 (2)

Footnote

(+ + + § 5: For application d. Changes d. Art. 2 no. 6 G v. 24.6.2013 I 1667 cf. Section 14 (6) + + +) Non-official table of contents

§ 5a Certification of basic pension contracts

The certificate authority grants the Certification in accordance with § 2 para. 3 if you have the necessary information and documents in accordance with this Act, as well as the terms and conditions of the basic pension agreement according to § 2 (1) or (1a) as well as the § 2a and the provider is the

the requirements of § 2 (2) are equivalent to

footnote

(+ + + § 5a: for application d). Changes d. Art. 2 no. 7 G v. 24.6.2013 I 1667 cf. Section 14 (6) + + +) A non-official table of contents

§ 6 of the Regulation on the Law of the European Union

On the protection of consumers, in particular for the better The Federal Ministry of Finance can, in agreement with the Federal Ministry of Labour and Social Affairs and the Federal Ministry of Food, Agriculture, and the Federal Ministry of Food, Agriculture and Rural Development, ensure that the products are comparable and standardised. Consumer protection through legal regulation, which does not require the consent of the Federal Council, more detailed provisions on the certification procedure and on the nature, content, scope and presentation of product information sheets and information requirements in accordance with § § 7 to 7c. The Federal Ministry of Finance may transfer the authorization to the Federal Central Office for Taxes by means of a regulation which does not require the approval of the Bundesrat. Non-official table of contents

§ 7 Information requirements in the product information sheet

(1) The provider of an old-age pension or basic pension contract has inform the contractual partner in good time by means of an individual product information sheet, but at the latest before it makes its declaration of contract. The individual product information sheet must contain the following information:
1.
Product label;
2.
the name of the product type and a short product description;
3.
the certification number;
4.
in the case of retirement pension contracts, the recommendation, before the contract is concluded, Verify eligibility;
5.
the full name of the provider according to § 1, paragraph 2, or § 2, paragraph 2;
6.
the key parts of the contract;
7.
the probability-based accounts Classification in opportunity-risk-class;
8.
in the case of retirement pension contracts in the form of a loan and in the case of old-age pension contracts within the meaning of Article 1 (1a) (3), the indication the amount of the net loan, the total cost and the total amount of the loan;
9.
a list of the costs pursuant to Section 2a (1) (a) to (e) and (2) (a) to c, separated for each link point, the indication of § 2a, first sentence, point 1, point (f) is voluntary;
10.
Details of the price-performance ratio;
11.
for basic rents contracts according to § 10, paragraph 1, point 2 (b) double letter bb of the Income Tax Act, the guaranteed monthly performance;
12.
a reference to the relevant establishment of insolvency protection and the extent of protection granted so far;
13.
Information about provider change and termination of contract;
14.
About the possibilities and Consequences of a contribution exemption or redemption suspension, and
15.
the status of the product information sheet.
The contract provides for a supplementary protection of the The individual product information sheet must also contain the following information in addition to the following information: style="font-weight:normal; font-style:normal; text-decoration:none; ">
1.
the beginning, the end, and the scope of the supplemental protection;
2.
Notes about the episodes of sublimation or late contribution payments and
3.
Performance exclusions and obligations.
Set 2, number 7 and 10 to 13 does not apply to
1.
Age pension contracts in the form of a loan or for old-age pension contracts as defined in Section 1 (1a) (3) and
2)
2.
the loan component of an old-age pension contract in accordance with § 1 (1a) sentence 1 (2).
Sentence 2, points 7, 8, 10 and 13 does not apply to basic pension agreements pursuant to § 10 (1) Point 2 (b), double letter bb of the Income Tax Act. In the case of insurance contracts, the cost information required under this paragraph shall be replaced by the cost information in accordance with Section 2 (1) (1) and (2) of the Ordinance on the VVG Information Obligations. If the conclusion of the contract is not timely for the information provided by the individual product information sheet, the supplier shall only have to inform the contracting party at its request or in the event of an interim change of the information sheet in the product information sheet. to inform you about the costs of a new individual product information sheet.(2) The individual product information sheet replaces the product information sheet in accordance with § 4 of the Ordinance on VVG-Information in the respective applicable version. A model calculation according to § 154 of the Insurance Contract Law is not to be carried out for certified old-age pension agreements and for certified basic pension contracts. This must not be added to the individual product information sheet in addition. The timely access of the individual product information sheet must be able to be demonstrated. The Product Information Sheet shall be provided free of charge to the contracting party.(3) The contracting party may withdraw from the contract within two years from the date of delivery of the contract, if the supplier does not fulfil his obligations pursuant to paragraph 1, either correctly or not in full. The resignation shall be declared within three months from the date of notice of the reason for the resignation. In the event of a resignation, the provider shall pay the contractual partner at least one amount of money equal to the contributions paid to the contract and retirement pension allowances. The provider has to pay the contract partner interest in the amount of the statutory interest rate in accordance with § 246 of the Civil Code on contributions and retirement pension allowances. The interest shall begin on the day on which the contributions or allowances will be paid to the provider. § 8 of the Insurance Contract Law remains unaffected.(4) The provider shall have four charges for each tariff based on a certified old-age or basic pension scheme before the first-time distribution of a pension or basic pension contract based thereon. Create pattern product information sheets in accordance with the second sentence. These shall be in the form and content of the individual product information sheet referred to in paragraph 1, with the proviso that the information shall be based on sample data instead of individual values. The sample product information sheets are published on the Internet. The details of the publication regulates a letter from the Federal Ministry of Finance, which is published in the Federal Tax Bulletin.(5) § § 297 to 299, 301 and 303 of the capital investment code remain unaffected.

footnote

(+ + + § 7: For application cf. § 14 (6) + + +) Non-official Table of contents

§ 7a Annual Information Light

(1) The provider of an old-age pension or basic pension agreement is obliged to inform the contractual partner annually in writing of the following points:
1.
the use of the contributions paid;
2.
the height of the capital formed;
3.
the actual amount of the actual contribution year Cost;
4.
the generated returns;
5.
until the payment phase begins after Deduction of costs at the beginning of the payment phase likely to be available capital; for the calculation, the contributions actually paid in the past and the individual contributions made available prior to the conclusion of the contract are Product information sheet referred to in section 7 (1), second sentence, point 10.
In the context of the annual information requirement, the provider of an old-age pension or basic pension contract must also write about it in writing. inform as to whether and how ethical, social and environmental concerns are taken into account in the use of the contributions paid.(2) Paragraph 1 (2), (4) and (5) does not apply to
1.
for basic pension contracts pursuant to § 10 (1) (2) (2) (2) (2) b Double letter bb of the Income Tax Act,
2.
for retirement pension contracts in the form of a loan,
3.
for retirement pension contracts within the meaning of § 1 paragraph 1a (3) or,
4.
if allotment is already of the building-saving contract.
(1), first sentence, point 5 shall not apply to contracts concluded before the date of application referred to in Article 14 (6) sentence 2.

footnote

(+ + + § 7a: For application, see § 14 (6) + + +) Non-official table of contents

§ 7b Information prior to the payment phase of the retirement pension agreement

(1) Are benefits from an old-age pension contract in accordance with Article 1 (1), first sentence, point 4, a provider of old-age pension contracts shall inform the contracting party in writing at the earliest two years prior to the commencement of the contractually agreed payment phase:
1.
the form and amount of the disbursements, including statements on the dynamization of the monthly benefits as well as
2.
the costs incurred in the payment phase.
If no commencement of the payment phase has been agreed upon, the following shall apply: Retirement pension contracts, after 31 December It was completed in December 2011, and the completion of the 62. Life year as the beginning of the payment phase, and the completion of the 60. Life Year. The contractual partner shall then be informed by the provider within the framework of the notification in accordance with sentence 1 that an actual start of the payment phase has not been agreed. Where a provider of old-age pension contracts is willing to accept, in accordance with the first sentence of Article 1 (1) (1) (10) (b) above, he must, on request, provide the investor with the information provided for in the first sentence and, where appropriate, the third sentence: Make available if less than two years remain until the start of the payment phase. This information shall be based on the transfer value and the date of transmission specified by the investor.(2) The information provided by the provider must be made no later than three months before the commencement of the contractually agreed payment phase. If a provider of old-age pension contracts does not inform the contractual partner not later than nine months before the commencement of the contractually agreed payment phase in accordance with paragraph 1, the contracting party shall have the right to conclude the retirement pension contract at the beginning of the payment phase shall be terminated no later than three months before the start, in order to allow the capital formed to be transferred in accordance with the first sentence of Article 1 (1) (10) (b). If it takes place later than six months before the start of the payment phase, the contracting party has the right to terminate the retirement pension contract at the beginning of the payment phase with a period of 14 days in order to raise the capital formed in accordance with § 1 (1) sentence 1 Point 10 (b). The provisions of the second sentence of paragraph 1 shall apply mutatily.(3) In the event that a provider does not fulfil its obligations under paragraph 1 or 2, not correctly, not in full, in the prescribed manner or not in good time, the contracting party may within one year from the commencement of the payment phase of the Providers require that they be placed in the same way as they were at the beginning of the payment phase, taking into account the payments already made to him. It may require the transfer of the capital thus calculated in accordance with the first sentence of Article 1 (1) (1) (10) (b). The provider of the previous old-age pension agreement may then not ask the contracting party to pay any costs for the transfer of capital. The capital calculated in accordance with the first sentence shall be galvanissed from the beginning of the payment phase until its transfer to the other pension agreement at the level of the statutory interest rate in accordance with Section 246 of the Civil Code.

Footnote

(+ + + § 7b: Zur Application § 14 (6) + + +) Non-official table of contents

§ 7c Cost change

A provider has a change in costs to the contractual partner , which are shown in the individual product information sheet in accordance with Article 7 (1). In the event of a change in costs before the commencement of the payment phase, he shall have a customized individual product information sheet or a sheet containing at least the information specified in section 7 (1), second sentence, number 1, 9, 10 and 13, with an individual product information sheet. to issue a period of at least four months at the end of a calendar quarter prior to the change in costs. The calculation of the price-performance ratio shall be based on the value developments on which the calculations in the individual product information sheet made available before the conclusion of the contract are based. In the case of old-age pension contracts in the form of a loan or old-age pension contracts within the meaning of Article 1 (1a) (3), the information provided for in the second sentence of Article 7 (1) (2) (1), (8) and (9) shall be replaced by the abbreviated information provided for in the second sentence of the second sentence. In the case of basic pension contracts in accordance with Article 10 (1) (2) (b), double letter bb of the Income Tax Act, the abbreviated information provided for in the second sentence of sentence 2 shall be replaced by the information provided for in the second sentence of Article 7 (1) (1), (9) and (11). From the start of the payment phase, the costs incurred in the payout phase shall be shown on a separate sheet. Costs which are not shown in the individual product information sheet or in the sheet according to the second sentence of second sentence or in the sentences 4 to 6 do not have to be taken over by the contracting party.

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(+ + + § 7c: For application see § 14 (6) + + +) Non-official Table of Contents

§ 7d Backup for Cooperatives

To fulfill their obligation under § 1 (2) sentence 1 (4) (b), the To provide the contracting party with a direct claim against the collateral provider and to prove it by surrender of a confirmation (security certificate) issued by the latter or on the initiative of the latter. A significant limitation of the security is to be pointed out in a highlighted manner. The guarantor may not rely on any objecting from the security contract or on the fact that the security certificate is not issued until after the termination of the security contract with a contract partner to whom a security certificate has been handed out. has been issued. When a security note is handed out in accordance with sentence 3, the contract partner's claim against the cooperative shall be applied to the collateral provider, insofar as the collateral provider is in accordance with the contractual partner's claims. The backup can also be done in some other way, if it achieves a comparable level of protection.

Footnote

(+ + + § 7d: For application see § 14 (6) + + +) unofficial table of contents

§ 7e right of revocation

The contractual partner is a contract certified under this law, without prejudice to other regulations, a right of revocation according to § 355 of the Civil Code. If, at the same time, the consumer is entitled to a right of withdrawal in accordance with Section 355 of the Civil Code or in accordance with other provisions, the right of withdrawal is excluded in accordance with the first sentence.

Footnote

(+ + + § 7e: For application cf. Section 14 (6) + + +) Unofficial table of contents

§ 8 Revocation, revocation and renunciation

(1) The certificate authority may apply for certification of an old-age pension agreement, or the certification of an old-age pension contract with the provider, if the facts justify the assumption that the supplier is responsible for the compliance with the provisions of this law and the § 10a, 22 No. 5, § 22a and Section XI of the Income Tax Act does not possess the required reliability. The certificate authority may refuse the application for the certification of a basic pension agreement or revoke the certification of a basic pension agreement with the provider if the facts justify the assumption that the supplier is the one for the Compliance with the provisions of this law as well as § § 10 and 22a of the Income Tax Act does not possess the required reliability. The certification body has to revoke the certification from the provider if the provider no longer meets the requirements of § 1 (2) or § 112 of the Insurance Supervision Act. The repeal of the certification in accordance with the general procedural rules of the tax code shall remain unaffected. In the case of a provider within the meaning of section 1 (2) sentence 1 no. 4 (cooperatives), the examination association, which the cooperative is examining, is obliged to inform the certifying body, insofar as it is part of an examination pursuant to section 53 (1) of the A cooperative law establishes facts within the meaning of sentence 1 or a ground of revocation within the meaning of sentence 2, or otherwise becomes known to the examination association or becomes aware of the fact that the statutes of the cooperative are amended in such a way as to ensure that the or has been amended that the conditions laid down in Article 1 (2), first sentence, point 4 (b) are no longer fulfilled. Sentence 4 shall apply mutatily to the supreme state authority competent pursuant to Section 81 of the Cooperative Act.(2) The provider may dispense with the certification without prejudice to its contractual obligations for the future by written declaration to the certification body.(3) The provider is obligated to immediately inform the contractual partner with which he has concluded an old-age pension agreement or a basic pension agreement on the withdrawal or revocation of the certification.(4) The certification authority shall immediately inform the central body within the meaning of Section 81 of the Income Tax Act of the withdrawal or revocation of the certification of an old-age pension agreement or of the renunciation of the certification of a pension scheme. Retirement pension contract. The certifying body shall immediately inform the supreme financial authorities of the countries of the withdrawal or revocation of the certification of a basic pension agreement or of the renunciation of the certification of a basic pension agreement. It shall also be communicated from which point in time the withdrawal, revocation or renunciation is effective. In the case of an application or revocation referred to in the first sentence of paragraph 1, the supervisory authority responsible for the offeror and a provider within the meaning of section 1 (2), first sentence, of the audit association, of which the cooperative shall be examined, shall be entitled to: . A provider within the meaning of § 1 (2) sentence 1 no. 4 must inform the certifying body if in the future another examination body other than the previous one will carry out the examination in accordance with § 53 (1) of the Cooperative Act.(5) (omitted)

footnote

(+ + + § 8: For application d. Changes d. Art. 2 No. 11 G v. 24.6.2013 I 1667 cf. Section 14 (6) + + +) Non-official table of contents

§ 9 Appeal and immediate enforcement

Appeal and lawsuit are based on the provisions of the Rules of the Tax Code and the Financial Courts. They do not have suspensive effect. Unofficial table of contents

§ 10 Publication

The CA makes the certification and the revocation, withdrawal, or the Renunciation by publication of the name and address of the provider and its certification number in the Federal Tax Bulletin. The same applies analogously to the certification of contracts within the meaning of Section 4 (2) sentence 1. Non-official table of contents

§ 11 Confidentiality and data protection

(1) The person employed by the certification authority or who is responsible for the certification authority Individuals may not disclose or exploit any confidential information obtained in their activities, even if they are no longer in service or are not engaged in their activities (confidentiality). This shall also apply to other persons who, by means of official reporting, are aware of the facts referred to in the first sentence.(2) An unauthorised disclosure or use referred to in paragraph 1 shall not, in particular, be provided for when facts are passed on to
1.
force law or public order with the supervision or audit of insurance companies, credit institutions, financial services institutions, investment companies, Co-operatives or building societies entrusted to bodies and persons responsible for them,
2.
other financial authorities or
3.
the examination board, which examines the cooperative, with a provider within the meaning of § 1 para. 2 sentence 1 no. 4,
to the extent that these bodies provide the information for the performance of their tasks need. In the case of persons employed by these bodies, the duty of confidentiality laid down in the first sentence of paragraph 1 shall apply mutagenic to the person concerned.(3) (omitted) (4) If personal data are collected, processed or used, the provisions of the Federal Data Protection Act shall apply. Non-official table of contents

§ 12 Fees

(1) The CA collects an application, an old-age pension contract, or to certify a basic pension contract, fees of EUR 5 000. For providers who use a certified contract of a top association in their application pursuant to § 4 paragraph 1, the fee is 500 euros if
1.
the provider's contract with regard to the requirements of § 1 (1) or (1a) or § 2 (1) or (1a) as well as § 2a of the certified pattern in order and the content does not differ and
2.
the provider in the case of his application in addition the certificate authority with its postal address, the certification number and the date, to
forpursuant to § 4 (3) Sentence 1 and 2, the fee is 250 Euro.(2) The fee shall be fixed by written communication to the applicant, and notice of notification shall be taken into account. The applicant shall be required to pay the fee within one month of the notification of such a charge. The fee shall apply mutatily to the provisions of the Rules of the Tax Code. The fee fixing can be corrected in accordance with § § 129 to 131 of the Tax Code. The notice of notice is given against the fee fixing.

Footnote

(+ + + § 12: For application d). Changes d. Art. 2 No. 12 G v. 24.6.2013 I 1667 cf. Section 14 (6) + + +) Non-official table of contents

§ 13 Penal provisions

(1) Contrary to the law, who intentionally or negligent
1.
contrary to § 7 (4) sentence 1, a sample product information sheet not, not correct, not complete or not prepared in time,
2.
contrary to § 7a (1) sentence 1 on a point referred to there not, not correct, not complete, not in the
3.
contrary to Section 7a (1), second sentence, on the consideration of the concerns referred to in the second sentence of the second sentence of the present invention in the use of the not fully, not fully, not informed in the prescribed manner or not in due time, or
4.
contrary to § 7b (1) sentence 1 (2) The administrative offence may be punishable by a fine of up to EUR 3 000.
(2)(3) The administrative authority within the meaning of Section 36 (1) (1) of the Code of Administrative Offences is the certification body.

Footnote

(+ + + § 13: For application d). Changes d. Art. 2 no. 13 G v. 24.6.2013 I 1667 cf. § 14 (6) + + +) Non-official table of contents

§ 14 Transitional provision

(1) For contracts which are in accordance with § 5 in the All of them have been certified in accordance with the provisions of Article 7 (1) of the Law of 5 December 2004. July 2004 (BGBl. I p. 1427) as a whole up to 31. A new certification of the contract is not required in December 2005. Sentence 1 shall apply in accordance with the provisions of Section 1, Section 1, Sentence 1, sentence 1, No. 8, in the order of 31 December 2008, without any time restrictions. The Commission shall, on the basis of the provisions of Article 7 (1) (a) (a) (aa) to (cc) and (ee) of the Law of 5 December 2004, apply in force with its existing customers in December 2004. July 2004 (BGBl. I p. 1427), all or part of the amendments. The amendment to the contract shall be notified to the certification authority in writing.(2) For old-age pension contracts, which are before 1. Article 1 (1), first sentence, point 2 shall apply with the proviso that the agreement for the contracting party provides for a life-long pension scheme, calculated irrespective of sex, not before completion of the contract. of the 60. Life year or before the age of 60. Benefit from a statutory pension scheme of the contractual partner (start of the payment phase) may be paid. The other conditions referred to in the first sentence of Article 1 (1) shall remain unaffected. For contracts which are in accordance with § 5 in the The increase in the age limit of 60 December 2011 has been certified. to the 62. Year of age up to 31. December 2012, a new certification of the contract is not required. Sentence 3 shall apply in so far as the raising of the age limit of 60 is applicable. to the 62. It will be agreed with the customer by contract or by amending the contract. The third sentence of paragraph 1 shall apply accordingly.(2a) For contracts which are in accordance with § § 5 or 5a in the on 31. On the basis of the provisions of Article 2 of the Law of 24 December 2012, the amended version of the Act of 24 December 2012 alone has been certified as amended. June 2013 (BGBl. I p. 1667), no recertification is required. The third sentence of paragraph 1 shall apply accordingly. If, before the expiry of the day before the date of application referred to in the second sentence of paragraph 6, no change notification is submitted to the certification body, this shall be deemed to be the waiver of the provider for the certification within the meaning of Article 8 (2), as from the sentence in paragraph 6 2 mentioned time of use.(2b) For contracts concluded in accordance with § 5 or § 5a to the 23. Only the amendments to Article 1 of the Law of 15 July 2014 have been certified. July 2013 (BGBl. 2397) and by Article 5 (1) of the Law of 18. July 2014 (BGBl. I p. 1042), no recertification is required. The third sentence of paragraph 1 shall apply accordingly.(3) The certification of contracts, the contracts of which are based on the provisions of Article 2 (1) (a) to (c) of the Law of 29. July 2008 (BGBl. I p. 1509), may not be less than 1. The European Parliament and the Council Up to the point at which the first sentence is set, certifications can be made on the basis of up to the 31. The European Parliament and the Council of the European Union. Contracts which are in accordance with § 4 (1), (2) or (3) in conjunction with § 5 in the on 31. The provisions of Article 2 (1) (b) of the Law of 29 December 2007 may be amended in accordance with Article 2 (1) (b) of the Law. July 2008 (BGBl. I p. 1509). The fees for the certification according to sentence 3 shall be determined in accordance with § 12 sentence 3. The provisions of Article 2 (4) (d) of the Law of 29. July 2008 (BGBl. 1509), amended annual information requirements are for the first time in accordance with the provisions of the 31. The contribution years beginning in December 2008 will be applied.(4) For old-age pension contracts, which are up to 31 years old. § 1 (1), first sentence, No. 10 (b) and (c) shall apply. In accordance with the Act on building societies, Bausparkassen shall in each case agree a period of no more than six months at the end of the month in accordance with the Act on building societies. .(5) Up to 30. By way of derogation from Section 3 (1), the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) is the Federal Financial Supervisory Authority From the 1st The administrative procedures laid down in this Act shall be subject to the provisions of the Rules of the Tax Code in July 2010. On the 30th The provisions of the Administrative Procedures Act shall continue to apply in June 2010. This shall also apply to legal remedies pending at that time.(6) The amendments to Article 2 (1) to (3), (6) and (7), (11) to (13) (a) and (b) of the Law of 24. June 2013 (BGBl. I p. 1667) are for the first time on 1. 1 January 2014. The amendments to Article 2 (9) and (10) of the Law of 24. June 2013 (BGBl. I p. 1667) are for the first time on the first day of the 18th. apply to the proclamation of a Regulation within the meaning of the first sentence of Section 6 of the calendar month following that of the calendar month. The second sentence of Article 7 (1), point 9 and section 7c shall not apply to contracts concluded before the date of application referred to in the second sentence.