Risk equalization
The carrier of the general pension insurance must retain pursuant to § 216 SGB VI a sustainability reserve (referred to by the end of 2003 as a fluctuation ). The sustainability reserve made up of excess resources and reserves. From it are to cover an under -standing deficiencies and compensate for seasonal fluctuations in revenue during the year, so that short-term contribution rate adjustments are avoided. Secondly, it is used to compensate for multi-year cyclical deficits, thus, the contribution rate can be kept stable over the business cycle.
For payment of the monthly pension payable in the event of an emergency and the federal government pursuant to § 214 SGB VI, who must close a coverage gap concerning an early payment of the monthly Federal grant or by a short-term working capital loan.
The lower and upper target value of the sustainability reserve describes the bandwidth to compensate for cyclical fluctuations. The expected close the year value is crucial for changes in the contribution rate to the public pension system: an adaptation of January 1 of the year is required when on 31 December this year in maintaining its current contribution rate which means the sustainability reserve
The basis for assessment is not the total expenditure but are treated as " expenditure to own loads" of GRV, which account for about 83 % of all expenditures ( § 158 SGB VI).
The amount of the contingency reserve in the other months of the year is less important and follows a specific course. While the development of the pension expenditure during the year is relatively uniform, the contribution inputs fall in the individual months from different heights. This trend is not new, but monthly liquidity fluctuations are necessarily due to special payments the employer or a different number of working days. In particular, the sustainability reserve regularly builds up in the year progressed further and will be filled by the then incoming contributions on special payments ( " Christmas bonus " ) on their year-end value only in the month of December.
The contingency reserve is reported monthly in arrears of the pension providers to the Federal Insurance Office. As of December 31 of the years 2005 to 2012, it has developed as follows:
The stand from December 31, 2012 corresponded to 170 % of an average monthly output ( 1.7 MA).
Since the end of years 2012 and 2013 is expected to sustainability reserve of over 1.5 monthly expenditure, the contribution rate for GRV January 1, 2012 from 19.9 to 19.6 % and 1 January 2013 to 18.9 % was lowered.