Men Hufeld, you are a football fan?
I’m a fan, but not an expert. My heart belongs to Mainz 05 and now also Eintracht Frankfurt
Then tell us about it. What is Marking
In the Financial Marking means that we start with companies in which we found to be high risk, an intensified regulatory dialogue. We consider, for example, figures and data intensive, more likely to speak with the board and require the company concrete proposals a how the problems can be solved.
take some pension funds in such Marking . Who needs to worry about?
pension suffer even more than life insurance under the low interest rates. They have almost invariably annuities in their portfolio. New business goes back, at the same time increases the life expectancy of the insured. The pension funds are therefore exposed to a significant multi-print. We have over the years with pension funds and other providers of occupational pensions in conversation in order to create stability. We can solve the problem of low interest rates will not solve, but we can buy time.
By operating pensioners get less pension?
This is the most dramatic way. But there are other screws. The most moderate is certainly to reduce unrealistic profit expectations.
How many pension funds are under Marking?
Exact figures we do not call. I can only say. Both of life insurers, as well as the pension there is a two-digit number
The federal government wants to encourage people more money in the to put occupational pensions. Silly if now weaken the pension and get into trouble.
The total market is weakening. Under the extreme low interest environment everyone who relies on interest income suffers. The company pension is and remains an important component in the provision. What’s problems?
insolvency. Bankruptcy.
Our Marking is far, far earlier, namely already if the seller can not deliver exactly what they promised. We no longer walk even a when insurers have promised 100 euros a month, but can only pay 99 euros.
Are there any companies that currently the guaranteed return create?
in the short term and medium term there is no such a case, but life insurers must fulfill their obligations and meet in 20 or 30 years. In the long run, it may be just in individual cases. Pension funds have a different business model; things look different here. As a rule, here liable employers and have to step in financially to fill the gap.
As long as the economy is going well, this may go. But what if the downturn comes?
The performance of the economy is an important point. If they falter, we have another game.
The following year, the guaranteed interest rate of 1.25 percent is projected to decline to 0.9 percent. Why do not they make him equal to all from?
The guaranteed interest rate is the maximum of what insurers can guarantee its customers. It prevents unrealistic warranty promise and ruinous competition. Furthermore we are happy. Given the new European supervisory rules of Solvency II policy will be reconsidered in 2018 if the guaranteed interest rate is still needed or not.
Would you still recommend your neighbor or a friend today to take out a life insurance policy?
If it is his intention to hedge for age, well! Anyone who has paid you because otherwise a fixed amount to rest of your life, that is, ensures, as we say it in our sober language, the longevity risk from? However, if the investment is in the foreground, there are many products that are at least as good.
Would you also advise to Riester pension? Is there well spent the money?
not to justify totally inappropriate A blanket condemnation of Riester and. Of course you can improve things. The Riester products are very complicated, but at its core the idea of a government-funded private pension is right, and Riester has proven so far.
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