SV SparkassenVersicherung Holding, which offers insurance products on behalf of several savings banks, has set up its own Pensionsfonds, the SV SparkassenVersicherung Pensionsfonds.
The group expects a drop in the interest rate for the accounting valuation of pension obligations in the next few years, it said. Transferring pension obligations to the Pensionsfonds can help counter higher costs for companies, it added.
Occupational pension consultancy Heubeck advised SV in the process, with the aim to expand investments and management capacity of pension assets.
SV has appointed Thorsten Wittmann, Ursula Krauter-Parkinson and Daniel Strohbach as members of the board of directors of the Pensionsfonds. Michael Kochanski is the responsible actuary.
With the new Pensionsfonds, SV becomes a provider of all five different types of company pension schemes with the support of its own consulting company SV bAV Consulting.
SV has worked so far with the Sparkassen Pensionskasse, the Sparkassen Pensionsfonds and, under the leadership of the S-Pensionsmanagement, with Dekabank and Heubeck to provide occupational pension products.
SV bAV Consulting functions as a point of reference on company pension schemes for savings banks in Baden-Württemberg, Hessen, Thuringia and parts of Rhineland-Palatinate.
SV SparkassenVersicherung Holding relies on a network of lawyers, tax consultants and auditing companies for regulatory, tax and labour laws and accounting advice on company pension schemes.