OCCUPATIONAL PENSION SCHEMES IN GERMANY

ISBN: 9783836655231 Géneros: KN Sinópsis: In the past it was customary for both national and international companies to provide different kinds of occupational pension schemes for employees as an additional incentive Unlike US and Swiss companies German corporations retained the money collected from occupational pension schemes in their companies Direktzusage in order to benefit from these lowcost internal funds instead of investing them in external funds Rating aspects the increasing internationalisation of the capital markets and Basel II are forcing INFICON GmbH to reduce its balance sheet by outsourcing pension reserves AngloSaxon dominated rating agencies in particular are still extremely critical about pension reserves and treat them as real debt capital In addition the EU Regulation 16062002 stipulates that as of 2005 all capital marketorientated corporations with registered offices in EU Member States will have to draw up their group statements in accordance with International Accounting Standards Furthermore these longterm contracts are increasingly imposing a burden on German companies as human life expectancy has constantly been rising and business growth rates have been decreasing Moreover companies were forced to change their policy because of the pressure resulting from the globalisation of fiscal laws for multinational corporations A management recommendation will be given in this master thesis which will be based on different means of outsourcing pension liabilities Furthermore the possibilities of concluding a contractual trust arrangement CTA will be discussed in depth The last chapter introduces a survey conducted with several wellknown and influential German companies in order to detect the best practice already established in German economy