Membership agreement - VBV

1020 Wien, Obere Donaustraße 49 - 53
Tel: 01/217 01 8123 Fax: 01/217 01 8260
E-Mail: [email protected] Internet: www.vorsorgekasse.at
BVK-Leitzahl: 71600
APPLICATION FOR CONCLUSION OF A MEMBERSHIP AGREEMENT
In accordance with the Corporate Employee and Self-Employed Pension Act (“BMSVG”)
For employers with employees and mandatory insured persons in the health insurance fund in
accordance with the GSVG [Federal Act on Social Insurance for Persons engaged in Trade and
Commerce].
Employer/self-employed person:
Contact:
Street:
Postal code:
Town:
Company stamp:
E-mail:
Telephone:
Fax:
With employee pension provision, please specify the regional health insurance fund and membership number(s):
If no membership number is available, I will
notify the membership number(s) to VBV as
soon as I hire an employee in my company.
Works council:
 yes
 no
Number of employees:
Self-employed persons who are subject to mandatory health insurance in accordance with GSVG (e.g. owner)
Ser.No.:
Social insurance number (10 digits) and name:
1.
2.
3.
Identity verification questions as required by the Austrian Banking Act (BWG) §§ 40 et.seq.
Contract to be concluded as a trustee on behalf of third parties:
 yes
 no
Declaration regarding the economic beneficiary (important: only to be filled out if the company is a legal entity):
The following persons (natural persons and legal entities) hold more than 25% of the company/exercise more
than 25% of the control.
Name, address, date of birth:
Name, address, date of birth:
Name, address, date of birth:
With his signature, the employer confirms that all requirements for the selection of VBV – Vorsorgekasse AG pursuant to §§ 9, 10 BMSVG have
been complied with. The employer has read and consented to the contractual terms and conditions on the reverse. These are therefore an
integral part of the application. Furthermore, the employer confirms the completeness and correctness of his details.
The following 3 steps must be taken for the application to become valid:
Submitting a copy of valid, official photograph identification (driving licence, passport)
Submission of the current company register extract for legal entities.
Fill out the following block
Identified by (e.g. passport):
ID number:
Date of issue:
Function in company:
FN 224801s Vienna Commercial Court
Place, date, company stamp/signature
DVR 2108521
Registration
On conclusion of the membership agreement, upon request by VBV, the
employer shall submit a list of all prospective beneficiaries in writing or on
data media in the format notified by VBV. The notification shall contain all
important circumstances and data for the premium/claim measurement in
accordance with §§ 13 and 54 BMSVH, as specified by VBV.
Collection and transfer of the premiums
In accordance with the provisions of the BMSVG, the employer shall pay
the premiums with the addition of possibly incurred default interest to the
health insurer/social insurance institution of the industry responsible for the
prospective beneficiary, for forwarding to VBV.
Cooperation duty
(1) The employer undertakes to notify VBV immediately and truthfully
about all relevant circumstances for the contractual relationship and for
the administration of the pension rights, as well as for the review of the
payment claims, resp. inform VBV about this without delay and without
being requested to do so.
(2) The assessment of the legality of a claim by a prospective beneficiary
shall exclusively be conducted on the basis of the data notification by
the Main Association of Austrian Social Security Institutions.
Administration costs
(1) VBV shall deduct administration costs from the collected pension
contributions in accordance with the BMSVG. Based on the
uninterrupted duration of membership in the group of eligible
beneficiaries of an employer and the pension contributions in the first
36 contributions months, these shall amount to 2.5%. Subsequently,
the costs for the relevant, following 36 contribution months will increase
by 0.25 percentage points in each case (i.e. initially, for the fourth to
sixth year, to 2.25%, etc.) until they amount to 1.5%. No further
reduction shall take place. In the event of (2), the service times on
which the transfer are based, shall be taken into account in the scale.
In addition to this, the fee invoiced by the relevant, responsible social
security institution for the collection and forwarding of the contributions
shall be offset as a cash expenditure in accordance with BMSVG.
(2) In the event that a previous future pension right is transferred to VBV, a
one-off cost contribution of 0.5% of the transfer value shall be retained,
whereas the cost contribution shall not exceed EUR 250 per previous
future pension right and shall be charged to the transferred future
pension.
(3) Out of the relevant, attributable investment income, VBV shall retain a
fee for asset management, which shall amount to 0.7% of the invested
pension assets per business year. In the event that the investment
income for a business year is not sufficient for this VBV fee, the
difference shall be carried forward to new account; in this case, the
pension assets shall not be charged. Furthermore, in this context, no
cash expenditures, particularly custody account fees or bank fees, will
be passed on.
(4) The transfer of the previous future pension rights and rights to a selfemployed person's pension from another company pension fund or into
another company pension fund, as well as the disbursement of these
rights, shall take place free of administrative costs. However, cash
expenses incurred during the course of transfer or disbursement, such
as bank fees, costs of a postal order, or similar, shall be offset and
retained by deducting from the future pension.
Claim to settlement / capital sum
On the basis of the BMSVG provisions, the prospective beneficiary is
entitled vis-à-vis VBV, to a settlement/capital sum from the selfemployment pension.
Amount of the settlement/capital sum
The amount of the settlement/capital sum arises from the pension rights at
the end of the month in which a claim has fallen due according to the
provisions of the BMSVG. It shall amount to a minimum of
1. the sum of the contributions that have flowed to VBV plus
2. a possibly transferred previous future pension right and
3. a pension right possibly transferred from another company pension
fund.
Investment
All forms of investment in accordance with § 30 BMSVG are permitted for
investing the assets allocated to the undertaking for collective investments.
Investment policy
(1) With the selection of the investment instruments, security, profitability
and liquidity are focussed on.
(2) This selection will take place under objective criteria and in
consideration of the aforementioned specifications to achieve the
highest possible income with low risk, whereas the investment
regulations of § 30 BMSVG shall form the basis of the decisions. An
adequate mixture and spread of the assets shall be taken into
consideration.
(3) Through constant monitoring of the markets and assessment of market
developments, the changing circumstances and economic trends shall
be responded to, also at short notice, if necessary.
(4) However, the interests of the prospective beneficiaries and the
fulfillability of the assumed obligations shall have top priority.
Termination of the membership agreement and change of company
pension fund
(1) Cancellation of the membership agreement by the employer or by VBV
or amicable termination of the membership agreement is only legally
valid, if the transfer of the pension rights to another company pension
fund is ensured. The cancellation or amicable termination of the
membership agreement can only take place in a legally valid manner
on a joint basis for all of the prospective beneficiaries covered by this
membership agreement.
(2) The cancellation or amicable termination of the membership
agreement may only be declared with effect from the balance sheet
date of VBV. The notice period for cancellation of the membership
agreement is six months. The amicable termination of the membership
agreement shall be valid no earlier than on the balance sheet date of
VBV, which is at least three months after agreeing to the amicable
termination of the membership agreement.
(3) The transfer of the pension rights to the new company pension fund
must take place within five working days after the end of the second
month after the balance sheet date of the company pension fund,
whereas a profit allocation shall be carried out at this month-end, in
consideration of a possible guaranteed benefit. Amounts still related to
these pension rights, which arise after the transfer, shall immediately
be transferred to the new company pension fund as a subsequent
transfer. From the balance sheet date, the pension contributions shall
be transferred to the new company pension fund, regardless of
whether they still relate to months prior to the balance sheet date.
Changes to the membership agreement
(1) Necessary changes to the membership agreement shall be notified to
the employer by VBV in writing and shall become an integral part of the
contract after written consent from the employer/a relevant contractual
amendment.
(2) Legal changes that must take place on the basis of an official order
(e.g. the financial market supervision authority or the Federal Ministry
of Finance), shall come into force upon notification to the employer of a
change to this contract.
(3) Furthermore, the invalidity of a provision of this membership
agreement shall not cause the invalidity of the entire contract and shall
be replaced by a provision, which comes as close as possible to the
invalid provision, in commercial terms.
References; applicable provisions; legal venue
(1) References to legal provisions relate to their relevant, currently valid
version.
(2) The respective statutory provisions shall apply to points that are not
regulated, particularly the BMSVG/similar Austrian legal regulations
and the relevant provisions of VBV, which have been approved by the
supervisory authority.
(3) The responsible court of law in Vienna shall be seized for legal
disputes arising from this contract.
In line with the Austrian Equal Treatment Act, personal designations apply
in the same way for women and men.
Please note:
Due to EU Directives, implemented under the Austrian Banking Act (BWG),
all credit institutions accepting deposits subject to guarantee obligations or
providing investment services subject to guarantee obligations are required
by law to belong to a deposit-guarantee scheme.
The VBV - Vorsorgekasse AG, as an Austrian bank, is unlimitedly subject
to the the Austrian regulations on deposit insurance and investor
compensation (§§ 93 et.seq. BWG). The VBV - Vorsorgekasse AG
participates in the statutory deposit-guarantee scheme of the
Einlagensicherung der Banken & Bankiers Gesellschaft m.b.H.
Investor Compensation:
The severance pay entitlement or entitlement to a self-employed cover of
each prospective beneficiary is secured with a maximum amount of 20,000
euro.
For further details we refer to the statutory provisions in §§ 93 et.seq. and
103 h BWG, which we will be glad to provide upon request.