The Pensionskasse (staff pension insurance) of the cooperative organisation VVaG (mutual insurance association) is a legally autonomous entity entrusted with company-related pension provision. It grants employees or their beneficiaries a legal claim to benefits and is committed to administering the employer-sponsored pension scheme capital in a safe and secure manner. Furthermore, employees may directly allocate portions of their compensation to build up a company pension entitlement. Due to its very special obligation to safeguard a significant part of the retirement provision, the insurance has outlined its business culture in an overall concept which constitutes the cornerstone of its entrepreneurial practices.
The Pensionskasse is a mutual insurance association. Employers and employees are members of a strong risk alliance. The members are not only policy-holders but also owners and they are represented on the supervisory board. The Pensionskasse is not obliged to satisfy the profit interests of third parties (e.g. shareholders).
Self help, personal responsibility, self management
The Pensionskasse is part of a cooperative organisation. It solely accepts members that belong to it or are associated with it. The Pensionskasse upholds the principles of a cooperative entity: self help, personal responsibility and self management.
The Pensionskasse maintains an open information policy for its members. Its Internet presence and the opportunity for personal talks ensure members easy access to information regarding the insurance.
Although situational and statutory framework conditions are subject to constant transformation and permanent change in a fast-moving business environment, insurance contracts often have a term of several decades. Thus, a well conceived, long-term entrepreneurial development is of decisive importance to the Pensionskasse. This strategy is given priority over short-term profit optimisation.
The Pensionskasse receives premium contributions from employers. However, a considerable amount of employee contributions also flows directly into the insurance (deferred compensation, statutory Riester and Rürup pension schemes). Although the employees’ contributions are embedded in the legal scope of the company pension scheme, they are considered, from a financial point of view, a private investment of the employee. Therefore, in many cases the administration of the entire pension scheme exceeding the statutory retirement entitlement is incumbent upon the Pensionskasse.
Competency and Trust
As an employer, the Pensionskasse relies on qualified, motivated and performance-oriented employees. It supports goal-oriented training programmes for their further education. Employer and employee form a partnership that is characterized by a sense of respect, fairness and trust. The Pensionskasse promotes an independent work environment for its employees and supports their contact to insurance members.
Independency and autonomy
The Pensionskasse is independent and autonomous. The technical infrastructure for administration of the insurance assets is continually being expanded. When deemed appropriate, the insurance utilises external services. The Pensionskasse will continue to remain the independent contact partner for services of the company pension scheme. It writes insurance particularly for the enterprises of the cooperative organisation.
The Pensionskasse strives for steady and sustainable growth.