Bitte wählen Sie:
History:  > Pension Provisions

skip to main navigation-menu | skip to metanavigation | skip to language-switch and search form | skip to toolbox (printing and others) | skip to navigation grouped by subjects

Inhalt

Pension Provisions: RWE’s Proceeding for Setting up a Contractual Trust Arrangement (CTA) and Pensionsfonds*)

 4 of 5 

RWE has externalised the major share of the pension provisions into a CTA and Pensionsfonds*)

  • Reasons for setting up a CTA/Pensionsfonds*):
    – Increased transparency allowing better international comparison
    – Increased transparency of funding for pension liabilities
    – Additional protection of pensions against insolvency
  • Timing for the process:
    – Q1 2007 transfer of ca. € 7.9 bn assets into the CTA
    – Transfer of ca. € 4.6 bn assets from the CTA into the Pensionsfonds*) effective as of November 1, 2007 to cover the pension liabilities of the retired employees
    – Parts of the remaining on-balance sheet pension liabilities (€ 3.5 bn) will be transferred into the CTA/Pensionfonds*) in the following years
  • Neutral from Rating Agencies' perspective
*) Separate legal entity under the supervision of the German Federal Financial Supervisory
Authority (BaFin); legal standing differs from that of typical UK and US pension funds.

print version   back   top

 4 of 5