Medical care in Westphalia-Lippe
| Medical care in Westphalia-Lippe | ||
|---|---|---|
 |
||
| Legal form: | Public corporation | |
| Founding: | April 1, 1960 | |
| Seat: | Muenster | |
| Members: | 44,452 (end of 2019) | |
| Pensioners: | 17,266 (end of 2019) | |
| Management: | Andreas Weber (Chairman of the Supervisory Committee)
Ingo Flenker (Chairman of the Administrative Committee) Christian Mosel (General Manager) Markus Altenhoff (Managing Director Capital Investment) |
|
| Website: | www.aevwl.de | |
The Ärzteversorgung Westfalen-Lippe (ÄVWL) is a professional pension fund and an institution of the Medical Association Westphalia-Lippe based in Münster . It is a corporation under public law and is subject to the self-administration of the profession. The ÄVWL was founded on April 1, 1960 and had around 44,452 members at the end of 2019, who paid around 588.9 million euros in pension contributions in 2019. In 2019, around EUR 518.3 million were paid out to the roughly 17,266 pension recipients. The ÄVWL is a member of the Association of Professional Supply Institutions (ABV) based in Berlin.
Nature and legal basis
The legal basis of the Westfalen-Lippe doctors' care is the law on health professions of the state of North Rhine-Westphalia . There it is regulated in § 6 a para. 1 that the medical associations have to create a pension facility for their chamber members and their family members by means of a special statute . The supervisory authority of the ÄVWL is the Ministry of Finance of the State of North Rhine-Westphalia according to Section 3 (1) of the Insurance Supervision Act North Rhine-Westphalia .
The ÄVWL is a pension institution on the basis of compulsory membership for all doctors who take up medical work in the Westphalia-Lippe chamber area. In the structured pension system in the Federal Republic of Germany , it belongs to the so-called "first pillar". As a “special kind” pension scheme, it is completely independent from the statutory pension scheme . Since salaried doctors are subject to compulsory membership of the ÄVWL as well as compulsory insurance in the statutory pension scheme, the legislator has given them the option of exempting themselves from compulsory insurance in the statutory pension scheme in favor of the professional pension scheme in accordance with Section 6 SGB VI to let.
organs
The organs of the ÄVWL are the Chamber Assembly, the Supervisory Committee and the Administrative Committee. The Chamber Assembly, as the highest body, has, among other things, the task of adopting amendments to the Articles of Association, receiving and determining the annual financial statements and the management report, as well as deciding annually on the dynamisation of pensions and pension rights. Among other things, the Supervisory Committee monitors business activities, draws up investment guidelines and makes changes to the business plan. The Management Committee manages the business, if they are entrusted to other organs, the decisions of the Chamber Assembly and the Supervisory Committee is responsible for implementing and will have the latest seven months after the end of the fiscal year, the financial statements present together with the review. The members of the supervisory and administrative committees are trained in seminars (in accordance with ABV requirements) in order to expand or renew their expertise. According to the statutes, the handling of the day-to-day business of the ÄVWL is delegated to a full-time management . The ÄVWL is represented in and out of court by the President of the Medical Association of Westphalia-Lippe (Section 26 of the North Rhine-Westphalia Health Professions Act). The chairperson of the administrative committee represents the president if he or she is prevented from attending.
Services
The task of the ÄVWL is to guarantee its members and their family members long-term pension benefits in an appropriate amount. The appropriateness should be reflected in an increase in pension entitlements and current pensions, depending on the respective economic and political environment of the ÄVWL. The ÄVWL grants old-age , occupational disability and survivors' pensions as core benefits . The benefits of the ÄVWL are contribution-based. The so-called open coverage plan procedure is used to finance the benefits. The open coverage plan process is a capital-building process and is essentially characterized by the fact that contributions and benefits from future members are also included in the actuarial calculations.
In order to ensure a dynamic pension scheme for its members, ÄVWL is aiming for an excess return on total capital assets of currently around 14.5 billion euros, while adhering to the principle of investment security and risk diversification. The minimum target is to achieve an annual return on investment equal to the discount rate of currently 4 percent. The pension fund is obliged to observe the provisions of the Insurance Supervision Act (VAG) and the Ordinance on the Investment of Tied Assets of Insurance Companies (AnlV).
Capital investment
As part of the capital investment, both the risk-bearing capacity of the ÄVWL (efficient risk management) and the capital structure and retention period of the liabilities on the liability side (efficient asset & liability management ) must be taken into account. Furthermore, emphasis is placed on maintaining and expanding a high level of quality and service in all areas and processes of capital investment, membership and pensions as well as insurance operations. Ensuring a future-oriented and efficient administration to ensure a low level of administration costs for capital investments and insurance operations plays an important role.
Since government, corporate bonds or other simply structured pension investments as well as classic mortgage loans are no longer sufficient in the current low or zero interest rate environment to generate the actuarial interest rate of 4 percent in the basic supply, the ÄVWL has continuously developed its investment strategy over the past few years. This is accompanied by a significantly changed risk structure for the assets. It is important not only to develop new asset classes, but also to develop expanded risk profiles, for example in the form of mezzanine or subordinated financing. Another focus is increasingly on infrastructure investments and commercial loan transactions outside of the mainstream. ÄVWL expects this to generate comparatively stable cash flows and thus a constant earnings base despite the changed capital market situation . The focus is on special and, in some cases, complex systems that map overarching trends with high systemic or macroeconomic relevance, for example the energy transition , the growing national debt of industrialized nations and advancing globalization . The multiple award-winning real estate segment plays a special role at ÄVWL. Project developments have been carried out for a number of years, opportunities can be seized due to the high level of internal know-how (architects, experts, portfolio managers) and the capital structure of ÄVWL. At the moment, the focus is particularly on the transfer of directly held real estate into self-managed real estate funds for the purpose of uniform assessment and control of liquidity flows. In addition, the range of real estate investments (office, retail and commercial real estate) has been expanded to include residential real estate. The general quantitative restrictions on the individual commitments are restricted by external guidelines or laws (see 3 “Services”) and by internal investment guidelines. Particularly noteworthy, however, are the qualitative restrictions such as "investment grade" in the area of own bond holdings, first-class collateral for loans or proven successful management of funds and alternatives.
Awards
- MIPIM Awards 2009 Business Center for Kranhaus 1 in Cologne
- IIN Awards 2017 in the "Optimal Use of Real Estate" category
- IPE Real Estate Global Awards 2017 in the categories "Real Assets & Infrastructure Investor of the Year" and "Opportunistic Strategy"
- IPE Awards 2018 in the categories "Fixed Income" and "Real Assets & Infrastructure"
- Portfolio Institutional Awards 2018 in the categories "Best Portfolio Structure" and "Best Investor Fixed Income"
- Institutional Assets Awards 2019 in the "Real Estate Investments" category
Cooperations
The ÄVWL takes over the capital investment for the pension scheme of the members of the state parliaments of North Rhine-Westphalia, Brandenburg and Baden-Württemberg . In addition, Ärzteversorgung Westfalen-Lippe has been cooperating closely with the pension fund of the Veterinary Chamber of Westphalia-Lippe since July 1, 2016 in the management of capital investments, risk management and risk controlling.
Coordinates: 51 ° 57 ′ 12.2 " N , 7 ° 36 ′ 50.3" E
Individual evidence
- ↑ https://www.aevwl.de/fileadmin/Dokumente/Geschaeftsberichte/Geschaeftsbericht_2019.pdf
- ↑ https://realestate.ipe.com/news/investors/ipe-re-global-awards-nps-wins-global-investor-of-the-year/10018954.article
- ↑ https://ipe.swoogo.com/ipeawards2018/winners2018
- ↑ http://www.portfolio-institutionell-awards.de/gewinner-2018/gewinner-2018.html
- ↑ https://www.institutional-assets.com/