20. October 2020

Company pension scheme

The market area of occupational pension provision is mainly occupied by financial services and insurance companies and is pushed to the fore. Unfortunately, this is not always to the advantage of the consultants and employers concerns.

Against this background and the increasing complexity and topicality of consulting processes in the areas of occupational pension provision, there is an urgent need for sensitization and enlightment as well as a rethinking process for consultants, clients and employers.

Advice in the areas of occupational pension provision largely takes place in classical civil law. Thus tangents are indispensable for example with the tax, social security, work and the balance law and consequently classical consulting fields for legal advisors.

However, for more than four decades the insurance industry has been conveying the impression that company pension schemes are exclusively a product issue and that the associated legal advice is a classic ancillary business. Also the relevant OPS consulting organizations and – professional associations clear up only absolutely insufficiently the mandator and clientele and follow thus the argumentation of the “insurance industry” .

Likewise, the current jurisdiction should take notice in this context:

The Federal Supreme Court has definitely made it clear that legal advice in the area of occupational pensions may only be provided by licensed legal advisors. Otherwise there is a risk of liability consequences (cf. DB of 02.05.2008, pp. 983 – 985 and BGH judgement of 20.03.2008 – IX ZR 238/06). This makes it clear to the consultant or employer involved that occupational pension provision is to be regarded as a “consulting area” and not as a “product sales vehicle”.
In summary, it is therefore clear that in the broad field of occupational pension provision, high-quality specialist knowledge is indispensable in order to be able to provide clients with professional and task-oriented advice.

Kenston Services Ltd brings together all the necessary capacities and technologies in order to enable its clients and affiliated consulting partners or you as a client “directly” to guarantee the aforementioned conditions. In this way, Kenston Services Ltd enables the professional and liability-free implementation of all areas of occupational pension provision.