Draft bill on the Pension Provision Reform Act – DAV und IVS take a stand

The German Association of Actuaries (DAV) and the IVS – Institute of Pension Actuaries have given a mixed assessment of the draft bill from the Federal Ministry of Finance for the law on reforming tax-privileged private pension provision (Pension Provision Reform Act). On the one hand, the law creates important incentives to make private pension provision more attractive to broad sections of the population. On the other hand, the professional associations point to structural weaknesses that could impair long-term financial security in old age.