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We offer you guaranteed supplementary pension savings
Increased flexibility
Bayern Life has decided to increase the flexibility of the payouts so that Bayern Life Private Insurance and Bayern Life Specified Private Insurance are suitable for those who want to use their credit and deposits to pay into housing and mortgages despite the provision that this is not allowed in the concluded contracts.
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The Role of Bayern Life
Bayern Versicherungskammer AG (VKB) /Bayern Líf offers private equity savings for Icelanders. The savings are based on Act No 129/1997 on compulsory insurance of pension rights and the operation of pension funds.
VKB is supervised by Bafin, the German financial regulator. VKB's activities in Iceland are under the supervision of the FME, the Icelandic Financial Authority, regarding consumer protection and investment policy, i.e. the investment policy is in accordance with the aforementioned law and concerns money laundering.
The activities of the insurance broker PM-Premium Makler Gmbh, which distributes VKB products, are also supervised by both Bafin and FME
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2% pay increase
In Iceland it is mandatory to pay into a pension fund. It is only part of the pension that you will earn later in life.
Therefore, you are also at your disposal to bridge the income losses incurred during retirement by creating private equity savings. By creating such savings, you actually get a 2% salary increase.
Income tax on the savings is paid only at the time of withdrawal.
Specified property
Employers are required to pay 11.5% of your salary to the pension fund. You can choose to dispose of 3.5% of that contribution into private property. Other than the general pension savings, private property is inherited at death. You can also choose to which fund the specified private property is paid.
By depositing your specified private property to us at Bayern Life, you benefit from a return in euros with a minimum of 90% guaranteed principal.
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