BVV: New service provider on the German bAV market

5 September 2023

• Newly founded BVV Pension Management GmbH takes over administrative services of the BVV pension institutions
• BVV rounds off its full-service range of products, service and advice for everything to do with company pension schemes
• Managed assets remain in the pension fund, provident fund and pension fund
• All employees were employed in the new company as a result of the transfer of business

The BVV Versicherungsverein des Bankgewerbes aG based in Berlin has bundled its services in a central unit, the BVV Pension Management GmbH, which was founded for this purpose. This puts Germany’s largest pension fund in terms of fixed assets in a position to serve specific customer inquiries that were not possible in the previous corporate structure.

The BVV was founded with the promise to offer its members and member companies excellent company pension schemes (bAV). In order to continue to meet this claim, it is necessary to constantly meet changing customer requirements for service and advice. This includes, for example, the wish of many companies to receive the entire company pension scheme – i.e. administration, advice and implementation – from a single source. In addition, with its transformation from a traditional pension fund to a modern bAV service provider, BVV wants to open up new customer potential and business segments that were not possible with the previous pension fund structure. For this purpose, the traditional Berlin company has founded a new company: BVV Pension Management GmbH.

Modernization creates customer benefits

Despite all the changes, BVV relies on continuity in its modernization measures. BVV Pension Management GmbH is a wholly owned subsidiary of the pension fund. Managing directors are with Dr. Helmut Aden, Frank Egermann and Marco Herrmann are the board members of BVV Versicherungsverein – and the company’s supervisory board is also identical to the members of the supervisory board of BVV Versicherungsverein. “On the stable foundation of the pension fund, BVV Pension Management GmbH allows us to offer our member companies even more flexible solutions for all questions relating to company pensions, for example the administration of direct commitments,” says Marco Herrmann, member of the Board of Management.

Products, advice and service from a single source

With the foundation, BVV is consistently continuing on its way from a traditional pension fund to a modern full-service provider: In addition to the products from the pension fund, support fund and pension fund, betavo GmbH has been advising corporate customers on complex issues relating to company pension schemes since 2021. With immediate effect, betavo is once again a wholly-owned subsidiary of BVV Pension Management GmbH. The approximately 300 employees of the BVV Versicherungsverein are employed in the new company as part of a transfer of operations.

About the BVV

The BVV sees itself as a full-service provider of company pension schemes for the financial sector in Germany. Since it was founded in 1909, the company has made a significant contribution to old-age, disability and survivor benefits.

The BVV consists of three legally independent pension providers, which currently allow its member companies three of the five statutory implementation options: pension fund (BVV Versicherungsverein des Bankgewerbes aG), provident fund (BVV Versorgungskasse des Bankgewerbes eV) and pension fund (BVV Pensionsfonds des Bankgewerbes AG). With betavo GmbH, which was founded in 2021, BVV offers advice for the banking and financial services industry. The newly founded BVV Pension Management GmbH completes the group of companies and acts as a service provider and management company for the three implementation methods.

Source: BVV