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Pensionsablöse

English translation: pension or annuity capital redemption figure

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Pensionsablöse
English translation:pension or annuity capital redemption figure
Entered by: Mary Burdman

18:18 Oct 21, 2020
German to English translations [PRO]
Bus/Financial - Insurance / Life insurance
German term or phrase: Pensionsablöse
This term occurs in an information sheet on life insurance - Austrian document.

Does it simply mean payment of the pension, or is there a more exact meaning?


Vor Beginn der Pensionszahlung bzw. bis zur Auszahlung der *Pensionsablöse* teilt sich die Gewinnbeteiligung folgendermaßen auf....

zu fünfzig Prozent als Schlussgewinn, welcher einem Schlussgewinnfonds zugeführt wird. Dieser wird dem Vertrag zum vereinbarten Pensionszahlungsbeginn bzw. bei Auszahlung der *Pensionsablöse* zugeteilt.
Mary Burdman
United States
Local time: 10:46
pension or annuity capital redemption figure
Explanation:
My understanding is that Anglo-Am. etc. life. fire amd marine is strictly assurance, so the parties are the 'assureds', rather than motoring and home contents etc. insurance.

Redemption (the pension 'pay-off') is not to be used otherwise in an insurance context, rather repayment or surrender value.



Selected response from:

Adrian MM.
Austria
Grading comment
Thank you, Adrian.
4 KudoZ points were awarded for this answer



Summary of answers provided
3pension or annuity capital redemption figure
Adrian MM.
3Drawdown
Peter Ward


Discussion entries: 1





  

Answers


1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
(AUT) Pensions- bzw. Rentenablöse
pension or annuity capital redemption figure


Explanation:
My understanding is that Anglo-Am. etc. life. fire amd marine is strictly assurance, so the parties are the 'assureds', rather than motoring and home contents etc. insurance.

Redemption (the pension 'pay-off') is not to be used otherwise in an insurance context, rather repayment or surrender value.





Example sentence(s):
  • [...] for deferred retirement annuities, the redemption capital at the start of the pension payment phase is used. reports.uniqagroup.com ....bei aufgeschobenen Rentenversicherungen wird das Ablösekapital zu Beginn der Rentenzahlungsphase herangezogen.
  • Pension Capital Redemption. As of 26 November 2019. ----- OBJECTS. Allocation Investments. ML Allocation Fixed Income.

    Reference: http://iate.europa.eu/search/standard/result/1603308658332/2
    Reference: http://findok.bmf.gv.at/findok?execution=e1s1
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Grading comment
Thank you, Adrian.
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14 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
Drawdown


Explanation:
Could this be something to do with drawing down the pension (i.e. having a proportion (or all) of the pension pot paid out as a lump sum and taxed? Normally (in the UK at least) the first 25% can be drawn down tax-free.

Peter Ward
United Kingdom
Local time: 15:46
Native speaker of: Native in EnglishEnglish
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