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We take over defined
benefit pension obligations
and expand your options
for pension de-risking

Deutsche Betriebsrenten Holding

DBR Holding takes over defined benefit pension obligations in the form of direct commitments (Direktzusagen) relating to former employees of German legal entities within national and international groups. Thus, DBR Holding makes pension buyouts also available for pension obligations in Germany – a market that has been established in the UK and the USA for more than ten years.

DBR Holding provides a company-specific solution to achieve the full and final release of defined benefit pension obligations and all current and future risks and charges relating to occupational pensions.

DBR Holding is a German group of companies owned by a German family, with a long tradition and proven track record over many generations of responsibly engaging in long-term oriented and sustainable businesses.

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Benefits for
companies

The transfer of defined benefit obligations to DBR Holding leads to full and final legal, financial and economic release of pension risks.
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  • Elimination of significant non-core risks (longevity, inflation, interest rate, market)

  • Strengthening of capital structure through balance sheet reduction with positive impact on rating and financing conditions

  • Reduction of balance sheet volatility and enhancement of predictability of financial results

  • Reduction of business complexity (administration and risk management) and elimination of legacy liabilities leading to increased ability to focus on core business

  • Avoidance of M&A transaction issues

Benefits for
former employees
Pension entitlements of former employees will become fully funded through assets that will be ring-fenced and only available to fulfil pension commitments.
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  • Pension entitlements fully and irreversibly funded (often for the first time)

  • Insolvency protection of pension assets through a contractual trust arrangement (CTA)

  • No further exposure to business risks of the former employer, ensuring full future increases of pension benefitsn

  • High service quality in pension administration through specialisation

  • Protection by the German pension protection association (PSVaG)

How the pension buyout works
1. Creation of a pension corporation
Pension obligations and assets required to achieve full funding are transferred to a newly founded legal entity – the so-called pension corporation – through a demerger (Abspaltung or Ausgliederung) pursuant to the German Reorganisation Act (Umwandlungsgesetz).
2. Transfer of the pension corporation to DBR Holding
All shares in the pension corporation are transferred to DBR Holding. With closing of the transfer, companies achieve an immediate financial and economic release from respective pension liabilities.
The German Federal Labour Court (BAG) ruling provides a clear legal basis and certainty with regards to transaction structure and required capitalisation (assets) of the pension corporation
There are no approvals required by beneficiaries, works councils, supervisory authorities or the German pension protection association (PSVaG).
The takeover of pension obligations by DBR Holding can be achieved within only six months.
Our ambition
Partnership
Jointly we develop the best company-specific solution for the transfer of pension obligations and for the full and final release of defined benefit obligations.
Responsibility
We distinguish ourselves by the very high quality of our work, our absolute reliability and our partnership approach towards all of our stakeholders.
Sustainability
We are part of a German family-owned group of companies with generation-spanning perspective, and therefore we focus on sustainability and long-term stability.