VBL. Die sichere Versorgung aus einer Hand
     
| German | Schriftgröße:
Die Altersvorsorge für den öffentlichen Dienst.

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In the 2001 reforms the parties to the collective labour agreements and the VBL introduced the points model for VBLklassik. The employees who are insured in this scheme are entitled to the pension they would receive if 4 % of their pensionable income were to be paid into a capital-funded system. We say “were to be”, because this occupational pension scheme is still largely financed by pay-as-you-go premiums. Premiums paid by the employers and employees are used to fund payments to that year’s pensioners.

The amount of the occupational pension you receive under this scheme depends on the number of pension points you have collected. You collect pension points annually in line with your age and pensionable income. The VBL calculates your pension points using age factors based on interest rates of 3.25 % during the savings phase and 5.25 % during the pension phase. The younger you are, the higher the age factor, because the interest will accrue over a longer period.

When you are eligible for pension, all your pension points are added up and multiplied by a base factor of €4. This is how the monthly pension is calculated. Your surviving dependants will also receive pension benefits. The qualifying period for all benefits is 60 months.

Personal circumstances such as a pension rights adjustment on divorce (Versorgungsausgleich) or early retirement may reduce your pension benefits.

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