FRANKFURT (dpa-AFX) – The situation of the pension funds is worrying the financial supervision Bafin. “Pension funds are even more affected by the ongoing low interest rate phase than life insurers,” said Germany’s top insurance supervisor Frank Grund to the news agencies dpa and dpa-AFX. “We need considerable support from employers as sponsors at some health insurance companies.”
There are a number of institutions where employers add money to avoid cuts in company pensions for employees. “We are particularly concerned about the pension funds, which no longer have an employer as the sponsor,” said Grund. In the case of funds with a large number of institutions, on the other hand, agreement on a capital injection is sometimes difficult.
The Caritas pension fund, which had been in turmoil, had made headlines in the past. The result is a reduction in benefits for retirees and future pensioners. The employer must compensate for the cuts – if they still exist.
Financial supervision continues to have 31 of the 135 pension funds under closer supervision that are particularly affected by the slump in interest rates and for whom it is questionable whether providers will inject money. “I expect the number to increase if the low interest rate phase continues,” said Grund. The slump in interest rates makes it more difficult for the health insurance companies to generate the high commitments of the past./mar/stw/DP/jha
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