German employers' association BDA has said it is aiming to achieve consensus on the levy for the new pension insurance fund (PSV) by this autumn. In the wake of the crisis, a number of major insolvencies led to a surge in contributions to the PSV, which in turn sparked a debate on a risk-based levy.
Heribert Karch, chairman of the German pension fund association aba, confirmed at the association's annual meeting in Stuttgart last week that no consensus had been reached on a possible new contribution system. "The PSV committee, which I am heading within the aba, must iterate that we have reservations regarding the levy logic within the PSV because risks have diverged – even before the spectacular insolvencies", he said.
Alexander Gunkel, board member at the BDA, presented the latest version of his association's proposal on a new PSV levy in Stuttgart, but added that no final consensus had yet been reached. "We have scheduled the final survey among our members for autumn, as it is legitimate to give people another six months after a discussion that has so far lasted around six to seven years", he said, adding that "this is not a debate on the PSV itself but only on the contribution structure".
Representing the €3.3 billion PSV itself, board member Hans Melchiors said it would be required to apply Solvency II as an insurer, but added that it was still unclear how the fund would be classified.
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