BGH negotiates clause on costs in Riester contract
On Tuesday (9.00 a.m.), the Federal Court of Justice (BGH) will deal with a clause on acquisition and brokerage costs used by a savings bank in Bavaria in one of its Riester pension models. Specifically, it concerns the provision: "If a life annuity is agreed, the saver may be charged acquisition and/or brokerage costs." Life annuities are supplementary pensions that are usually paid until death.
In the view of the Baden-Württemberg consumer advice center, the clause is invalid as it is not clear and comprehensible and therefore unreasonably disadvantages savers contrary to the requirements of good faith. The Regional Court and the Higher Regional Court (OLG) in Munich ruled in favor of the consumer advocates. Sparkasse Günzburg-Krumbach appealed against this decision. It is unclear whether the BGH in Karlsruhe will issue a ruling on Tuesday. (Ref. XI ZR 290/22)
The controversy over the ambiguous clause regarding acquisition and brokerage costs in Riester pension models, specifically from a savings bank in Bavaria, has reached the Federal Court of Justice (BGH). This clause, deemed invalid by the Baden-Württemberg consumer advice center, allegedly unfairly disadvantages consumers due to its lack of clarity and comprehensibility in financial processes related to pensions.
The resolution of this dispute could potentially set a precedent for similar clauses found in pension contracts across various banks, impacting the finances and pension plans of numerous consumers.
Source: www.dpa.com
