Pension Security Association

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Pension Security Association

legal form VVaG
founding 1975
Seat Cologne-Rodenkirchen
Number of employees 154 full-time employees,
62 part-time employees
Branch insurer

The Pensions -icherung-Verein (PSV) is a German mutual insurance association whose operational purpose is to secure the legally vested entitlements and current pensions for employees and retirees of companies over whose assets or estate the insolvency proceedings have been opened .


It was founded on January 1, 1975 by the Association of Life Insurance Companies (now the General Association of the German Insurance Industry ), the Federal Association of German Employers' Associations and the Federal Association of German Industry (BDI) for the purpose of insolvency insurance under the Act to Improve Company Pensions (BetrAVG).

According to § 14 BetrAVG, he is the carrier of the statutory insolvency insurance in the area of company pension schemes for Germany and the Grand Duchy of Luxembourg . With certain types of company pension schemes, it guarantees company pension schemes if the employer becomes insolvent. It is subject to insurance supervision by BaFin .

Secured claims

The compulsory insurance at PSV subject to immediate pension commitments ( direct commitments , pension benefits), benefits from provident funds and direct insurance with revocable entitlements or irrevocable subscription right when the latter by the employer mortgaged , assigned or pledged were ( § 7 BetrAVG).

This protects those systems whose financial viability depends entirely or decisively on the solvency of the employer, either because the systems have no or virtually no funding (direct commitments and relief funds), their assets are not protected from the employer's creditors (the direct insurance companies covered) ) or because their assets are subject to potentially strong fluctuations in value due to the type of investment (primarily shares), so that in the event of a crisis they are dependent on additional contributions from their employer ( pension fund ). However, it does not include pension funds in the legal form of a VVaG and direct insurance with irrevocable subscription rights that are not loaned, assigned or pledged because, in the opinion of the legislature, they are not at risk in the event of the employer's insolvency.


In order to finance the insolvency insurance, employers who carry out the above-mentioned forms of company pension scheme are obliged to pay contributions under public law. The amount of the contribution is redefined every year and covers the amount of damage incurred in the same year.

On October 19, 2006, the German Bundestag passed the law amending the Company Pension Act. As a result, the financing process was changed from the pension value apportionment system to full funding. From now on, not only the current pensions ( present value ), but also the entitlements in the loss year (i.e. the year in which the employer becomes insolvent) are fully financed.

The financing of non-forfeitable entitlements for insolvencies that occurred up to December 31, 2005 was made through a single contribution to all employers liable to pay contributions in 2005. This one-off contribution could, however, be paid over 15 years.

After a low contribution rate of 1.8 per mille for 2008, the contribution rate for 2009 was 14.2 per mille due to a large number of bankruptcies in the year of the economic and financial crisis, of which 8.2 per mille in 2009 and the remaining 6.0 Per mille was due in four installments of 1.5 per mille each between 2010 and 2013. From 2010 the situation improved again. The contribution rates for 2010 and 2011 were 1.9 ‰, for 2012 3.0 ‰ and 2013 1.7 ‰. The long-term average over all previous financial years of the PSVaG is 3.0 per thousand.

year Contribution rate
2008 1.8 ‰
2009 14.2 ‰ (split up in 2009: 8.2 ‰, 2010 to 2013: additional 1.5 ‰)
2010 1.9 ‰
2011 1.9 ‰
2012 3.0 ‰
2013 1.7 ‰
2014 1.3 ‰
2015 2.4 ‰
2016 0.0 ‰
2017 2.0 ‰
2018 2.1 ‰
2019 3.1 ‰

Web links

Individual evidence

  1. Aim and purpose. In: , as of December 31, 2017.
  2. Wolfgang Lück (Hrsg.) / Heinz Kußmaul, Lexicon of Accounting and Auditing , 1998, p. 581 f.
  3. Rainer Hock: § 7 . In: Wolfgang Förster / Theodor B. Cisch / Michael Karst (ed.): Company pension law . 14th edition. Beck, Munich 2014, ISBN 978-3-406-66731-2 , Rn. 19th

Coordinates: 50 ° 53 ′ 33.4 ″  N , 6 ° 59 ′ 18.9 ″  E