In the German pension industry the..........>

GERMANY: In the German pension industry the "Betriebsrentenstaerktungsgesetz"

(BRSG) pension reform law came into effect in January. IP&E magazine reports

that the first products to comply with the new law have now been launched,

offerings from Union Invest and insurer R+V.

- These new pension vehicles have to be set up jointly by employer and employee

representatives. 

- More importantly from an investment behaviour perspective, this marks the

first time guaranteed pensions will be forbidden. Instead, pension plan holders

will be promised a "target pension", which is also called a "defined ambition"

model.