Assekuranzmakler Regensburg



To ensure you maintain your usual standard of living in old age, you need an adequate pension provision which keeps its promise. IFFOXX Assekuranzmakler AG works out and attends to future-oriented individual solutions with the main focus on:

  • Financing solutions for retirement arrangements
  • Innovative reinsurance concepts
  • Direct insurances
  • Provisions for partners/managing directors
  • Reinsured support fund
  • Pension funds
  • Staff pension insurance
  • Deferred compensation models


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For the funded supplementary pension five different ways of implementation are given within the scope of company pension schemes:

For the funded supplementary pension five different ways of implementation are given within the scope of company pension schemes. In the personal pension scheme the following procedures for the funded supplementary pension apply:


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Among the basic pension range:

  • all new private annuity life insurances,
  • the statutory public pension scheme,
  • the occupational pension funds as well as
  • the agricultural age classes

You may choose between different options for the development of your private life annuity. The tax treatment of the basic provision contributions to the 1st layer are tax-deductible up to 60% (maximum up to 12,000 Euro) since 2005. The tax-free contribution part rises by 2 percentage points every year, such that from 2025 onwards contributions of the basic provisions are tax-free up to the amount of 20,000 EUR per person.

In return to the tax exemption of the contributions of the basic provisions the pensions payments in this layer are taxable. The amount of the taxable pension part depends on the year of the first pension payment and then remains the same for the rest of your life. Existing pensioners and new pensioners in 2005 have a taxable pension part of 50%. After that the taxable pension part rises for each pensioner entering retirement up to 2020 by 2%, such that new pensioners will have a taxable pension part of 80% in 2020. Then the taxable portion of the pensions for new pensioners rises by 1% each, until the pensions are 100% taxable for new pensioners in 2040.

Your advantages at a glance:

  • tax incentives for your contribution payments
  • Lifelong pension payments
  • Provisions for occupational disability and surviving dependants selectable


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The private pension provision is state-aided with graduated allowances and tax advantages. Everybody may take advantages who is compulsorily insured in the statutory public pension scheme. The monthly contribution may be fixed by yourself. Your greatest possible advantage – you secure the maximum allowance for yourself if you pay maximum 2.100 Euro of your last year’s income which was subject to compulsory insurance, for the private pension scheme. The support funding will be paid to your pension provision contract directly by the state. Couples may bundle their allowances. For families a child allowance may be added per child.

You may offset the pension contribution up to a maximum amount of 2,100 EUR in 2008 (1,050 EUR in the years 2004 / 2005) as special exenditure against your tax. The allowances will then be offset against the tax advantage.

Funding of the private pension provision at a glance:

Förderung für private Vorsorge

Who gets the state funding?

The group of beneficiaries includes all persons who are compulsorily insured in the statutory public pension scheme:

  • Employees
  • Apprentices
  • Insured persons in parental leave
  • Officials, employees in public services with overall pension provisions similar to those of the officials
  • Self-employed persons subject to compulsory insurance
  • Persons serving military or civil service
  • Persons subject to compulsory insurance in the old age pension scheme for farmers
  • Marginally employed persons who renounced the freedom from social security
  • Spouses of this group of people who are not compulsorily insured, if they fulfill further preconditions

The group of beneficiaries does not include:

  • Self-employed persons, freelancers and
  • Voluntary members of the statutory public pension scheme


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Contributions to capital investment products do not enjoy any tax privileges. However there are tax concessions for the later payments. In case of capital benefits from products of the 3rd layer only half of the profit is taxable under certain conditions. Pension payments from products of the 3rd layer are only taxable with their low return portion.

Our specialists will be happy to advise you!


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IWV - “Institut für Wirtschaftsmathematik und betriebliche Altersversorgungssysteme GmbH“ will be happy to advise you in all questions and ways of implementation of the company pension scheme.

  • Actuarial expert opinions for the commercial and tax balance sheet (also according to IAS and US-GAAP
  • Attestations for the Pension Security Assocations
  • Actuarial assessment of other operational responsibilities
  • Risk analysis and business analysis of pension commitments
  • Rearrangement of existing pension funds
  • Forecast calculations of existing pension funds
  • Establishment and maintenance of working-time account models

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SG IFFOXX Assekuranzmaklergesellschaft mbH I Galgenbergstraße 2c I 93053 Regensburg, Germany I Phone +49 (941) 595648–0 I Email:


Particulary executives in private industry often do not have a sufficient retirement provision. In many cases they do not pay social security contributions (e.g. the board of directors of stock corporations or controlling shareholders / managing directors of a limited liability company) or they just pay minimum contributions.

But even in case of regular contribution payments to the statutory social security system their provision gap will be particularly significant as contributions to the statutory pension scheme will only be paid for salary portions up to the contribution assessment ceiling; salary portions exceeding this amount do not create any claims in the statutory pension scheme.

In order to assure retirement pension the direct insurance concluded is often not sufficient. The same is true for the staff pension insurance and / or the pension fund; up to 4% of the contribution assessment ceiling could be paid in per year having tax effectiveness. Therefore the agreement of an immediate pension commitment is recommended. It may be geared to the individual requirements of the persons entitled to pension benefits and the capabilities of the company.


Support Fund – What you should know!

The support fund is the oldest type of a company pension scheme. There is the company-financed support fund, where the employer pays the contributions and the support fund financed by the employee through a salary reduction.

In case of an employee-financed support fund, the employee accepts that his/her pay will be reduced by a portion determined by him / her (voluntary reduction of salaries). This means that this portion will no longer be subject to taxes and also no social security contributions will be charged if this amount does not exceed 4% of the contribution assessment ceiling. When the agreed age of retirement is reached, the employee receives a lifelong pension from the support fund. This pension is subject to tax, taking into account tax allowances (the so-called deferred taxation).

Conclusion: The support fund gives every employee the possibility to build up a lifelong pension by accepting a reduction in highly taxed gross income.

Support Fund – Your Advantages at a Glance
Contribution payments from a voluntary reduction of salaries are not subject to tax

  • Payments from a reduction of salaries are exempt from social security contributions up to 4 % of the social security contribution assessment ceiling
  • A shift of taxation into the future
  • Pension payments are taxed as income
  • Low tax rate and allowances for pensions
  • Very profitable pension provision
  • No contribution ceiling as in direct insurance
  • No effect on employer’s balance sheet


Upon adoption of the German law for the taxation of senior citizens financial assets (AVmG) the legislator considerably extended the possibility of company pension schemes. With AVmg the tax incentives for company pension schemes have also been expanded: contributions to the staff pension insurance are exempt from tax up to 4% of the contribution assessment ceiling, plus a fixed amount of 1,800 EUR per year. However, the fixed amount only applies to new promises up to 1 January 2005 and is only effective if no use is made of the wage tax consolidation into a lump sum according to § 40b EstG (German Income Tax Act). However, the fixed amount of 1,800 EUR is subject to social security deductions (both at the employer and at the employee).

The diagram illustrates the processes in the staff pension insurance:


Staff Pension Insurance – Your Advantages at a Glance

  • Easy way when realizing the legal entitlement to salary conversion
  • Use as employer-financed provision also possible
  • Taxfree allowance up to 4% of the contribution assessment ceiling plus a fixed amount of 1,800 EUR per year. However, the fixed amount only applies to new promises from 1 January 2005 and is only effective if no use is made of the wage tax consolidation into a lump sum according to § 40b EstG (German Income Tax Act)
  • Exemption from social security contributions of the benefits (not applicable for the fixed amount of 1,800 EUR)
  • Direct entitlement to benefits towards the Staff Pension Insurance
  • No accounting at the employer
  • No additional administration fee
  • Avoidance of the adjustment verification duty according to § 16 Betriebsrentengesetz (German Employers’ Retirement Benefits Act)
  • No insolvency insurance and thus also no contribution payment to the PSV (Pension Assurance Association) required
  • Easy handling in case of early retirement, no top-up financing by the employer
  • Continuation of the insurance in case of early retirement by the employee with his own contributions


What is a direct insurance?

The direct insurance is a life insurance your employer takes out on your life. You and / or your surviving dependants have an immediate right to the insurance benefits. The direct insurance is normally contracted as classical pension insurance, the contributions are normally financed by way of salary conversion. You agree with your employer that a portion of your gross salary or your special payments (e.g. holiday pay or Christmas bonuses) will be paid into the direct insurance as insurance contribution.

Your advantage is that the contributions can be paid in tax-free up to the annual amount of 4% of the contribution assessment ceiling of the statutory pension insurance (contribution assessment ceiling West) plus a fixed amount of 1,800 EUR. With a contribution up to a maximum of 4% of the contribution assessment ceiling West you also save social security contributions until the end of 2008, if your salary is within the contribution assessment limits for the statutory social security insurance. The fixed amount of 1,800 EUR is always subject to social security contributions, irrespective of how it is financed. On occurrence of the benefit event, the insurance benefits from the direct insurance are fully taxable as “other income“ (= subsequent taxation), whereby the tax load is often lower after retirement as during active working life.

Flexible structuring possibilities from contribution payment to time of payout and / or commencement of pension payments as well as attractive additional components for a supplementary provision for surviving dependants and / or occupational disability provision are designed to further optimize the model.

The diagram illustrates the processes in direct insurance against salary conversion:


An interesting detail is the arrangement of an employer-financed direct insurance e.g. instead of a salary increase at the same conditions.


The pension fund is a separate legal entity which entitles you to future benefits. As in case of life insurance companies and staff pension insurances the approval and the ongoing monitoring is performed by Bundesanstalt für Finanzdienstleistungsaufsicht (Federal Financial Supervisory Authority). Pension funds are not bound by the strict investment guidelines for life insurance companies and may invest the capital freely. This creates the possibility to take part in the chances (and also risks) on the capital markets.

Due to the higher investment risk the securing of the benefits of the pension fund in case of insolvency has to be made with the Pension Assurance Association; in case of insolvency this association will be liable for the contributions paid in. However, the contribution assessment basis for the contribution payments to the Pension Assurance Association is reduced to 20%. With the pension fund the legislator created the possibility to swap earned claims from a pension promise by a single premium.

When changing the way of implementation, leading to a re-arrangement, the existing pension promise is replaced by a new contractual regulation. For the transfer of the earned pension benefit entitlement to a pension fund, the approval of the person entitled to benefits is required. This is done by an individual change agreement. The company pension scheme is no longer implemented directly by the employer, but indirectly by the pension fund, i.e. the external way of implementation.


With this the employer is not completely out of liability, he is still liable in a subsidiary way, i.e. he stands for the fulfillment of the benefits promised by him even if the implementation is not made directly by him (§ 1 section 1 phrase 3 German Employers’ Retirement Benefits Act). Due to the change of the implementation way the employer is factually and economically out of liability, as far as insurance-type guarantee payments of the provider are concerned (details are given below).

Shareholding presidents / managing partners are not subject to the German Employers’ Retirement Benefits Act, thus in principle a transfer having debt-discharging effect is possible. The company can thus be released from liability. In practice however, this is only possible in the guarantee model and so far not all pension funds are willing to take over past service with debt-discharging effect. For shareholding presidents / managing partners no Pension Assurance Association contributions become due, as they are not subject to the German Employers’ Retirement Benefits Act.


Facts of occupational disability

  • One in four Germans becomes disabled before reaching the retirement age
  • In only 10% of all cases an accident is the cause of the reduced earning capacity
  • In 90% it is the result of an illness

Causes of Occupational Disability:

To secure his/her family and standard of living each employee should take out an occupational disability pension tailored to his / her individual needs.

Why is a private disability provision so important?

Your labour power is your most important capital! Everybody has wishes and dreams. Some have come true and you are still working on others. Your job and the income you reach is the economic basis. Make sure that this will remain this way – whatever happens.

Supplementary private disability provision is of utmost importance:


Financial protection in the event of death at favourable conditions.

You are in the middle of life, you established something and you make plans for the future for yourself and your family. A single serious accident may destroy everything.

The surviving dependants will receive only minimum pensions from the state. Protection against financial effects of death is more important than ever. In the first place this concerns the care for dependants. But risk protection may also be indispensable for start-ups, entrepreneurs, partners and key men. The same is true for protecting borrowers and builders.


Anyone can be hit by a serious disease

Have you ever asked yourself what happens if you, your partner or your children fall seriously ill? What effects will such an illness have on your life and the life of your family?

What happens if you contract cancer and special treatments and rehabilitation measures are required? Or if you are severely restricted in your mobility due to multiple sclerosis?

Such a thing does not happen to you? Are you sure?
The figures regarding the newly diagnosed cases per year in Germany speak for themselves.

Dread Disease

Newly diagnosed cases in Germany per year.
Serious diseases provision for securing your livelihood – privately and professionally

The provision against serious diseases gives you the possibility to cushion the financial consequences of up to 36 serious diseases on your life situation. On occurrence of the benefit event the insurer pays the agreed insured sum as a single payment. This money will give you the required financial freedom.


As classical provision for old age we still recommend endowment insurance as well as pension insurance.

With guaranteed insurance protection, flexible contracts, attractive profit sharing and tax advantages, the endowment insurance remains a top quality type of provision. With private pension a considerable monthly income is guaranteed. In addition is is only taxed with the extremely favourable profit share. The private pension insurance is an attractive insurance type, especially for young people, but also for the elderly who still want to do something for their pension.

Get advice from our experts!