Skip Ribbon Commands
Skip to main content
Sign In


 Content Editor ‭[5]‬

Actuaries and Retirement Provision

Within the DAV, the issue of retirement provision and occupational pensions in particular is covered by its subsidiary association, the IVS ("Institut der Versicherungsmathematischen Sachverständigen für Altersversorgung"). The scope of activity of IVS actuaries has expanded greatly in recent years. In addition to the traditional calculations using actuarial models and methods, the IVS's experts are now increasingly called upon to place the mathematical questions pertaining to retirement provision in an overall economic, fiscal and legal context and to communicate the results in a transparent and comprehensible manner. The IVS's "retirement actuaries" possess the necessary, broad-based specialist know-how, making them experts in consulting and service pertaining to all questions and types of retirement provision systems and vehicles. The work of the IVS experts concentrates mainly on valuing occupational pension obligations for all provision vehicles and pension institutions. Furthermore, personal retirement provision and pensions are important in the activities of the IVS's Members.

Calculating Pension and Actuarial Reserves

The IVS's experts calculate pension and actuarial reserves for pension schemes, pension funds and support / benevolent funds as well as for direct pension obligations and so-called direct insurance schemes (retirement provision funded by insurance) in accordance with regulatory and tax rules as well as with national (i.e., German commercial code) and international accounting principles. In addition, they produce analyses on the future performance of pension obligations as well as on their financial consequences for companies. They also calculate the funding of pension rights for the employees of companies.

(Responsible) Actuaries in Pension Schemes and Providers

In legally independent pension schemes and providers, IVS actuaries audit the funding of pension obligations and ensure that these can be met at all times, constantly monitor the development of existing scheme membership, check scheme assets, calculate the necessary actuarial reserve and develop proposals for participation in 'with-profits' surpluses or for adjustments to benefits payable under a scheme if they should ever be necessary. They are also involved in drafting benefit rules and guidelines as well as any amendments.

One particular responsibility that is incumbent on them is that of their function as the Responsible Actuary for pension schemes and providers (retirement and death funds, pension funds).

IVS Experts as Advisers

As advisers, they analyse, for example, offers for individual and group insurance policies for their clients and check that these are handled and managed correctly.

For some years now, actuarial experts have increasingly been dealing with the topics of risk and asset-liability management for insurers and pension providers. This requires them to draft investment strategies and answer questions concerning capital adequacy or equity base – the solvency of the pension provider. International accounting means that IVS actuaries are also responsible for valuations in accordance with international (IFRS) or foreign accounting rules and principles (e.g., US-GAAP, FRS).

DAV's and IVS's Retirement Provision Committee

The DAV's / IVS's specialist work in the field of retirement provision is done by the Retirement Provision Committee. The findings of this committee are published as technical principles or as reasoned opinions or statements and may also be used in public discussion.


Professional Standards of Practice

The following list provides an overview over the professional standards published by DAV's/IVS's Retirement Provision Committee. For every professional standard there is an abstract in English and the full version in German available.

 Content Editor ‭[4]‬

Reports on Findings

The following list provides an overview over the reports on findings published by DAV's/IVS's Retirement Provision Committee. For every report there is an abstract in English and the full version in German available.

  • Results of the joint working group of the German Institute of Pension Actuaries and the German Association for Occupational Pensions on the newly introduced defined contribution plans
    Abstract (English)      Full version (German)

 Content Editor ‭[1]‬


The DAV's and IVS’s section meetings enable their members to keep their required specialist know-how and expertise up to date as well as enabling the transfer of the results of fundamental scientific and/or academic work into everyday actuarial practice. In addition, they also promote and foster the exchange of experience and knowledge and, at a personal level, enable networking with peers.

The Section PENSION serves as a forum for discussing actuarial questions in the fields of the mathematics of pensions and of occupational pension provision. It is open to all actuaries who are interested in retirement provision, pension plans / schemes and social security, be it for personal, professional, educational or research reasons. The group's scope includes statutory pension insurance and personal pension plans, mutuals, insurance contracts and pension scheme / fund contracts, pensions, employee share options as well as other employee benefits.

The PENSION Section meeting takes place once a year during the Annual Meeting of the DAV and DGVFM at the end of April. Participation in the meetings is open to any interested party and not restricted to members of the DAV or the IVS.

IVS Forum

A further platform for discussing specialist retirement provision topics as well as for exchanging know-how and experience with one's peers is the IVS Forum. The aim of the forum is to inform (appointed) actuaries about current developments in their field quickly, directly and with a particular focus on their day-to-day work. The Forum's specialist talks and lectures are accompanied by discussions facilitated by experienced experts. These discussions enable participants to clarify any open questions or to make additional comments themselves.

 Content Editor ‭[2]‬


If you have any questions regarding pensions please contact:

Birgit Kaiser
+49 221/912 554-210

 Content Editor ‭[3]‬


Data privacy

Become an actuary
Membership information
International involvement

Annual meetings
Autumn meetings
ICA 2018

Practice areas
The European Actuary
European Actuarial Journal