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SIGNAL IDUNA SI Betriebsrente+: the policy wording in full
Fondsgebundene Pensionskassenversorgung mit Leistungsabsicherung über ein Garantieniveau, garantiertem Rentenfaktor und Mindestrente, Hinterbliebenen- und Waisenrente aus dem Guthaben, Kapitalwahl ganz oder bis 30 Prozent und ungezillmerten Kosten.
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Everything about this policy
What the policy covers: 62 points, each with its clause
Quotes are shortened. The full German wording of each point is on the German page for SIGNAL IDUNA SI Betriebsrente+.
Basics and funding vehicle
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Direct insurance (employer is policyholder, employee is the insured person) | not addressed | ||
| Pension fund or occupational group insurance as funding vehicle | yes | „SIGNAL IDUNA Pensionskasse Aktiengesellschaft Allgemeine Bedingungen für die SI …“ | Titel, page 1 |
| Reinsurance policy backing a direct pension promise or support fund | not addressed | ||
| Funding by employee salary sacrifice possible | not addressed | ||
| Purely employer funded pension possible | not addressed | ||
| Tax favoured contributions under local law | yes | „Die Summe aller innerhalb eines Kalenderjahres gezahlten Beiträge und Zuzahlungen darf …“ | § 14 Abs. 7, page 12 |
| Employer top up on salary sacrifice (Germany 15 percent) regulated in the wording | not addressed | ||
| Group framework contract with own terms (simplified acceptance, special costs) | not addressed |
Retirement benefit and guarantees
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Guaranteed technical interest rate during accumulation | yes | „Der Rechnungszins beträgt 1 % pro Jahr.“ | § 3 Abs. 1, page 5 |
| Contribution guarantee at retirement (share of paid contributions) | yes | „Die Mindestleistung wird in Prozent der vereinbarten Bruttobeitragssumme der …“ | § 1 Abs. 9, page 2 |
| Defined contribution with minimum benefit or contribution oriented benefit promise expressly covered | not addressed | ||
| Guaranteed annuity factor or minimum pension at retirement | yes | „Der garantierte Rentenfaktor wird mit einem Rechnungszins von 1 % und unserer …“ | § 2 Abs. 4, page 4 |
| Lifelong annuity as standard benefit | yes | „Wenn die versicherte Person den vereinbarten Rentenbeginn erlebt, zahlen wir eine …“ | § 1 Abs. 2, page 1 |
| Option to take a lump sum instead of a pension | yes | „muss ein entsprechender Antrag in Textform spätestens 1 Monat vor dem vereinbarten …“ | § 1 Abs. 10, page 3 |
| Partial lump sum alongside the pension | yes | „Es kann bestimmt werden, dass einmalig bis zu 30% des bei vollständiger …“ | § 1 Abs. 10, page 3 |
| Flexible retirement start (earlier or deferred) | yes | „Das Aufschieben des Rentenbeginns ist jedoch höchstens bis zum vollendeten 85 …“ | § 1 Abs. 17, page 3 |
| Guaranteed annuity period or return of remaining capital in payout | yes | „Bei Einschluss einer Todesfallleistung im Rentenbezug gilt“ | § 1 Abs. 22, page 3 |
| Pension increases in payment (profit use, indexation) | yes | „Die sich daraus zum Rentenbeginn ergebende Rente ist garantiert und kann sich aufgrund …“ | § 2 Abs. 7, page 5 |
| Fund investment with fund choice during accumulation | yes | „Bei den Fonds handelt es sich um einen Spezialfonds und um den Fonds, der diesem …“ | § 1 Abs. 8, page 2 |
| Profit participation and share of valuation reserves | yes | „der Beteiligung an den Bewertungsreserven (siehe § 4) erhöhen.“ | § 2 Abs. 7, page 5 |
Survivors and additional cover
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Death benefit before retirement (return of contributions or fund value) | yes | „entweder eine sofort beginnende Hinterbliebenenrente oder es werden sofort beginnende …“ | § 1 Abs. 3, page 2 |
| Survivor pension to spouse or registered partner | yes | „Für eine Hinterbliebenenrente können Ehepartner, Lebenspartner im Sinne des …“ | § 1 Abs. 23, page 3 |
| Orphan pension to dependent children | yes | „Das Waisenrentenendalter darf höchstens 25 Jahre betragen.“ | § 1 Abs. 23, page 4 |
| Beneficiaries limited to survivors allowed under tax rules | yes | „Die Zahlung von Waisenrenten erfolgt nur an Personen, die die Voraussetzungen des § 32 …“ | § 1 Abs. 23, page 3 |
| Funeral grant to other persons (amount) | yes, up to EUR 8,000 | „höchstens jedoch 8.000 EUR – als einmaliges Sterbegeld ausgezahlt.“ | § 1 Abs. 3, page 2 |
| Disability cover as rider in the same contract | not addressed | ||
| Premium waiver if the employee becomes disabled | not addressed | ||
| Long term care option or higher pension in case of care need | not addressed |
Vesting and change of employer
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Immediate vesting of rights from salary sacrifice | not addressed | ||
| Vesting period for employer funded parts | not addressed | ||
| Irrevocable beneficiary right of the employee from the start | yes | „Sie können ausdrücklich bestimmen, dass der Bezugsberechtigte sofort und unwiderruflich …“ | § 13 Abs. 2, page 11 |
| Insurance contract solution on leaving (policy passes to the employee) | not addressed | ||
| Transfer to a new employer or provider | yes | „Unter den Voraussetzungen des § 4 Betriebsrentengesetz kann die Versicherung auf einen …“ | § 21 Abs. 3, page 14 |
| Private continuation with own contributions after leaving | yes | „den Vertrag als Versicherungsnehmer zu übernehmen und mit eigenen Beiträgen zu …“ | § 21 Abs. 2, page 14 |
| Contribution pause during parental leave, sick pay or short time work | yes | „Sie können für Ihre beitragspflichtige Versicherung jederzeit“ | § 20 Abs. 1, page 12 |
| Reinstatement after paid up status without new health check | yes | „Sie können eine beitragsfrei gestellte Versicherung durch eine Mitteilung in Textform …“ | § 20 Abs. 1 d, page 14 |
| Insolvency protection of the entitlement | yes | „Jeder dieser Fonds stellt einen gesonderten Anlagestock innerhalb unseres …“ | § 1 Abs. 8, page 2 |
Costs, cancellation and disposal
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Zillmerised tariff (acquisition costs offset against first contributions) | none | „Die Vertriebskosten werden von jedem gezahlten Beitrag (laufender Beitrag …“ | § 17 Abs. 1, page 13 |
| Acquisition costs spread over at least five years or the whole term | yes | „Die Vertriebskosten werden von jedem gezahlten Beitrag (laufender Beitrag …“ | § 17 Abs. 1, page 13 |
| Deduction on cancellation or paid up status | not addressed | ||
| Deduction on transfer to another provider | not addressed | ||
| Disposal restriction: assignment, loans and surrender by the employee excluded | yes | „Die Abtretung von Ansprüchen und Rechten aus dem Vertrag sowie seine Verpfändung oder …“ | § 13 Abs. 3, page 11 |
| Free fund switch | not addressed |
Underwriting and employer duties
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Simplified health check for riders in group business | not addressed | ||
| Minimum number of insured employees in the group | not addressed | ||
| Shareholder managing directors or family employees insurable | not addressed | ||
| Minimum contribution per insured person | not addressed | ||
| Maximum contribution per insured person | yes | „steuerlich geförderten Jahresbetrag (derzeit geregelt in § 100 EStG) nicht übersteigen.“ | § 14 Abs. 7, page 12 |
| Employer notification duties (leaving, salary change, parental leave) | not addressed | ||
| Consequences of late contributions (reminder, deadline, employee information) | yes | „Gleichzeitig werden wir die versicherte Person in Textform über die Ihnen gesetzte …“ | § 15 Abs. 4, page 12 |
| Annual statement to the employee | yes | „Sie erhalten von uns während der Ansparzeit jährlich“ | § 22 Abs. 1, page 14 |
| Pledge of the reinsurance policy to the beneficiary provided | not addressed |
Austria and Spain specifics
| Point | Rule | Wording (German) | Clause |
|---|---|---|---|
| Austria: occupational group insurance under section 93 VAG 2016 and Company Pensions Act | not addressed | ||
| Austria: pension fund contract with investment and risk group | not addressed | ||
| Austria: minimum return guarantee | not addressed | ||
| Spain: company pension insurance plan (PPSE) | not addressed | ||
| Spain: simplified occupational pension plan (PPES), also for self employed | not addressed | ||
| Spain: group insurance expressly funding pension commitments | not addressed | ||
| Spain: covered contingencies (retirement, disability, death, dependency) | not addressed | ||
| Spain: early access (ten year old contributions, serious illness, long term unemployment) | not addressed | ||
| Spain: control committee with employee representation | not addressed | ||
| Spain: tax imputation of employer contributions to employees | not addressed |
Evaluated by NAMMERT from published policy wordings.
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Policy wordings and provider
- Legal entity
- SIGNAL IDUNA Lebensversicherung AG, SIGNAL IDUNA Pensionskasse Aktiengesellschaft
- Distribution
- brokers and direct
- Allgemeine Bedingungen für die SI Betriebsrente+ (SIGNAL IDUNA Pensionskasse AG) Edition: Fassung 01.2025 Original from the insurer (PDF, German)
Full text of the wording
The full text exists only in German. It is printed on the German page for SIGNAL IDUNA SI Betriebsrente+ and available as plain text.
Volltext SIGNAL IDUNA SI Betriebsrente+ · As text (Markdown) SIGNAL IDUNA SI Betriebsrente+