Ομιλία - Παρουσίαση: “Running a multi-employer fund in the EU today: Challenges as we head from the past to the future” Dr. Thorsten Guthke, Head of European Office, SOKA-BAU HIORP

1. Running a multi-employer fund in the
EU today: Challenges as we head from
the past to the future
Dr. Thorsten Guthke
Head of European Office

2. 4
ULAK
[Paid Leave Scheme and
Vocational Training Scheme]
Established: 1949
ZVK
[Occupational Pension Fund]
Established: 1957
SOKA BAU
(ZDB)
(HDB) (IG BAU)
SOKA-BAU: A multi-employer fund - and a
Paritarian Institution
23 February 2023 Running a multi-employer fund in the EU today

3. Pay-as-you-go: Characteristics
 Based on a generally binding collective agreement
 Mandatory for all employers and employees in the scope
 Funded by employers
 Defined Benefit
 Amount of pension benefit depends on pension age and
duration of employment
23 February
2023
Occupational Pension Schemes in the German
Construction Industry
3

4. Funded System: Social Partner Solution
Solving New Challenges
2016: Tarifrente Bau
Demographic
change
European
and national
legislation
Alignment of
East and
West
Germany
23 February
2023
- Fully funded
- Entitlements vest
immediately
- Individual pension
account
- Enlargement of scope:
includes apprentices
4
Occupational Pension Schemes in the German
Construction Industry

5. PAYG and funded: Numbers and figures
83,000 employers in the
construction industry
795,000 active workers
employed
1,480,000 members
accrue entitlements
340,000 beneficiaries
receive Rentenbeihilfe
or Tarifrente Bau
23 February
2023
Occupational Pension Schemes in the German
Construction Industry
5

6. Rentenbeihilfe and Tarifrente Bau:
Contributions
23 February
2023
Occupational Pension Schemes in the German
Construction Industry
6
Contributions
Blue collar 3.2 % of gross
salary*
White collar 67 € per month
Apprentices 20 € per month
* The percentage for all
schemes carried out by
SOKA-BAU is 20.8 %

7. Risk Management
 Risk strategy
 Risk-bearing capacity
 Most services are internal
 Strategic asset allocation
 Self-developed ALM-model
 ESG score: external & internal data
 Regulatory risks
 EIOPA Stress Tests:  cash-flow approach
23 February
2023
Running a multi-employer fund in the EU today
7

8. Own Risk Assessment
Risk
 Identification
 Analysis
 Communication
 Control
Risk reports to BaFin: 1 x / year
Risk Management & Compliance Committee
23 February
2023
Running a multi-employer fund in the EU today
8

9. Political situation
23 February
2023
Running a multi-employer fund in the EU today
9
IORPs not for
profit
Mandatory affiliation
EIOPA: Technical
Advice on IORP 2
Paritarian structure
Collective
agreements
Backed by numerous
employers
Growth driver
Financial stability
National social &
labour law
Societal benefit !

10. Eυχαριστώ πολύ
Thank you for your
attention!
23 February
2023
10 Running a multi-employer fund in the EU today
Dr. Thorsten Guthke
SOKA-BAU
Rue De Pascale 4 - 6
1040 Brussels
+32 (0)2 520.40.03
TGuthke@soka-bau.de