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Ausgliederungsversicherung

English translation: outsourced (pension) insurance/pension scheme

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13:50 Oct 21, 2002
German to English translations [PRO]
Bus/Financial
German term or phrase: Ausgliederungsversicherung
context: powerpoint presentation on new settlement regulation for company pension plans

Übergangsregelungen:

2. Keine Übertragung auf MV-Kasse - Verbleib im alten Recht
Exkurs: Ausgliederungsversicherung (EStR 3369 a)
-Übertragung der Abfertigungsverpflichtung mit ihrem Barwert an eine Versicherung mit unwiderruflicher Zweckwidmung
-Entfall der Rückstellung, der Wertpapierdeckung und der Aktivierung des Anspruchs gegen die Versicherung
-Prämienzahlung = BA, soweit sie dem Aufwand bei Rückstellungsbildung entspricht
-Deckungsstock der Versicherung hat der erforderlichen Wertpapierdeckung zu entsprechen
-Prämie ist kein geldwerter Vorteil
-keine handelsrechtliche Passivierungspflicht

Could this be a requirement that the company retaining their pension fund under the old settlement regulation must carry insurance against insolvency?

TIA, Beth
Beth Kantus
United States
Local time: 05:04
English translation:outsourced (pension) insurance/pension scheme
Explanation:
That's how I see it based on your first bullet point basically saying that the obligation to manage the pension scheme is transferred to an (external) insurance co. This means that the corporate entity will not have to deal with pension scheme management themselves in the future.

Might be completely off the mark but take it as a first approximate take...

HTH
Steffen

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Note added at 2002-10-21 13:57:44 (GMT)
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\"Take it as a... take\" is really way off track... stupid me!! What am I writing today?
Selected response from:

Steffen Walter
Germany
Local time: 11:04
Grading comment
In the end the agency told me the client has previously used "hive off insurance." When I mentioned I was not familiar with that term, this is what I was told:
'Ausgliederung' im Falle einer Ausgliederungsversicherung (das ist ein österreichischer Kunde) bedeutet, dass Teile der Rückstellungen in eine Lebensversicherung ausgegliedert werden. Das ist wohl ein relativ neues Verfahren, und die österreichischen Ausdrücke sind sowieso meist recht seltsam für unser Gehör.
Based on that, I did find this hit on google that sounds like the same thing:
PROVIDING MEMBER SECURITY IN SWEDEN
File Format: PDF/Adobe Acrobat - View as HTML
... liabilities ! Pension provisions must be safeguarded by a pension guarantee in form of credit insurance, state or municipal guarantee ! NOTE ...
www.actuaries.org/members/en/events/seminars/
Brighton/presentations/guldberg.pdf

But thanks to you both for your help!
2 KudoZ points were awarded for this answer

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Summary of answers provided
5outsourcing insuranceDavid Welch
3outsourced (pension) insurance/pension scheme
Steffen Walter


  

Answers


6 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
outsourced (pension) insurance/pension scheme


Explanation:
That's how I see it based on your first bullet point basically saying that the obligation to manage the pension scheme is transferred to an (external) insurance co. This means that the corporate entity will not have to deal with pension scheme management themselves in the future.

Might be completely off the mark but take it as a first approximate take...

HTH
Steffen

--------------------------------------------------
Note added at 2002-10-21 13:57:44 (GMT)
--------------------------------------------------

\"Take it as a... take\" is really way off track... stupid me!! What am I writing today?

Steffen Walter
Germany
Local time: 11:04
Native speaker of: Native in GermanGerman
PRO pts in pair: 11870
Grading comment
In the end the agency told me the client has previously used "hive off insurance." When I mentioned I was not familiar with that term, this is what I was told:
'Ausgliederung' im Falle einer Ausgliederungsversicherung (das ist ein österreichischer Kunde) bedeutet, dass Teile der Rückstellungen in eine Lebensversicherung ausgegliedert werden. Das ist wohl ein relativ neues Verfahren, und die österreichischen Ausdrücke sind sowieso meist recht seltsam für unser Gehör.
Based on that, I did find this hit on google that sounds like the same thing:
PROVIDING MEMBER SECURITY IN SWEDEN
File Format: PDF/Adobe Acrobat - View as HTML
... liabilities ! Pension provisions must be safeguarded by a pension guarantee in form of credit insurance, state or municipal guarantee ! NOTE ...
www.actuaries.org/members/en/events/seminars/
Brighton/presentations/guldberg.pdf

But thanks to you both for your help!
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 5/5
outsourcing insurance


Explanation:
see


www.outsourcing-insurance.com/ -

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Note added at 2002-10-21 15:34:18 (GMT)
--------------------------------------------------

this is a regular insurance product

David Welch
United States
Local time: 05:04
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 72
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