With the launch of the pensioner company (Rentnergesellschaft) on July 1, 2025, WTW enables companies to fully and legally transfer pension obligations, including attractive investment opportunities or alternatively an innovative reinsurance solution in cooperation with Munich Re. This provides WTW with an efficient, future-proof buyout solution for the growing demands in the field of occupational pensions.
“With the establishment of the WTW Pensioner Company, we are creating an independent solution for companies: WTW Pensions Holding GmbH acts as an independent risk carrier for the outsourced pension obligations. Our solution is also designed in such a way that a legally capable German foundation was established as the shareholder of the pensioner company,” says Hanne Borst, Head of Retirement at WTW. “With this sponsor structure, we have set sustainable conditions for the long-term stability and security of pensioners’ benefits.”
High degree of financing creates favorable conditions for outsourcing
“The high level of funding and current capital market conditions are particularly favorable for a buyout at this time,” says Dr. Johannes Heiniz, Managing Director of WTW Pensions Holding GmbH. This is also confirmed by WTW’s German Pension Finance Watch Q2 : The funding level of DAX companies is currently at 87.1 percent (MDAX: 79.9 percent). The main drivers are a higher discount rate and stable capital markets.
Borst adds: “Many companies are looking for ways to reduce complexity and administrative effort and outsource risks. Interest in the WTW solution is high. We are in contact with several potential customers.”
Everything from a single source: Maximum independence and stability
WTW has decades of experience in pension de-risking, capital investment, actuarial services, M&A, and the administration of pension obligations, making it the first full-service provider ideally positioned to enrich and actively shape the German pension buyout market with innovative approaches. WTW leverages the governance structure of the existing funding platform, which currently consists of pension funds, a group CTA, and its own pension fund.
Tailor-made investment with global expertise
The investment concept is closely aligned with the needs of companies and offers access to WTW Investment’s global investment expertise in the development and management of pension assets. WTW Investment advises on the investment of more than €3 trillion worldwide and manages more than €150 billion. WTW operates as an independent investment manager and conducts professional manager research. This enables WTW to optimally tailor the investment portfolio to the individual needs of the pension beneficiaries.
Munich Re as a strong partner: Attractive insurance solution
As an alternative to the investment concepts described above, WTW offers its clients a reinsurance solution from Munich Re. Within the framework of the pensioner company, this insurance-based financing option involves Munich Re assuming the risks associated with pension obligations.
This solution offers full risk transfer based on market interest rates, which is more economically attractive than previously available insurance solutions.
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