Significant Changes of the Law on Occupational Pensions in Germany
Mobility-Directive enters into force on May 20, 2014
20 May 2014
Mayer Brown Legal Update
Today, on May 20, 2014, the Directive 2014/50 of the European Parliament and of the Council on minimum requirements for enhancing worker mobility between Member States by improving the acquisition and preservation of supplementary pension rights, shortly referred to as the Mobility-Directive, enters into force. Once transposed, this Directive will cause significant, cost-relevant changes to the law on occupational pensions in Germany. Employers operating pension plans in Germany are well advised to acquaint themselves with the content of the directive and to analyze its consequences for the existing plans and define possibly necessary actions. In this Legal Update we have summarized the new rules.