offenes Deckungsplanverfahren

16:19 Jan 17, 2021
This question was closed without grading. Reason: No acceptable answer

German to English translations [PRO]
Law/Patents - Insurance / Versorgungswerk/Rentenversicherung
German term or phrase: offenes Deckungsplanverfahren
Hi everyone,
I am struggling with this term "offenes Deckungsplanverfahren". It is used by a "Versorgungswerk" and describes how they finance their benefits. Basically they collect contributions but rely on a steady stream of new members. I know what it is, roughly how it works, but not how to translate it :-(
Anyone come cross this one before ? Thank you so much for your help!
Daniel Arnold (X)
Australia
Local time: 18:28


Summary of answers provided
3Bav. method of an open capitalis/zation scheme
Adrian MM.
2open cover plan procedure
Décio Adams


Discussion entries: 7





  

Answers


1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
Bay. offenes Deckungsplanverfahren
Bav. method of an open capitalis/zation scheme


Explanation:
How this differs from a pyramid selling or Ponzi scheme, I'm not quite sure. Compare capital redemption business in life assaurnce: eine Sparpolice,

The website 'English' is dodgy: veterinaries instead of veterinary surgeons, vets or veterinarians and 'liberal' professions.

--------------------------------------------------
Note added at 5 heures (2021-01-17 21:20:19 GMT)
--------------------------------------------------

Bay. - bayerisch : Bav. - Bavarian, as per the lead-website on the first weblink. Yours truly, Adrian MM., one-time private English tutor on Säbener Strasse der Allianzstadion in Munich-Harlaching / Perlacher Forst where trained with the Bayern Munich footballing squad of 1968/69.

--------------------------------------------------
Note added at 19 heures (2021-01-18 12:02:25 GMT)
--------------------------------------------------

Response to asker: Bavaria, as in the first weblink, is merely meant to fix the origins of the term and is unintended as part of the translation >
1923: the first pension scheme in Bavaria...


Example sentence(s):
  • For the professional pension schemes of the liberal professions is characteristic that they are financed not by the method of 'pay as you go' but by... open capitalization.
  • offenes Deckungsplanverfahren: ...das Verfahren ist eine *Mischform* aus Anwartschaftsdeckungsverfahren und Umlageverfahren.Das Verfahren ist eine Mischform aus Anwartschaftsdeckungsverfahren und Umlageverfahren.

    Reference: http://www.abv.de/english-summary.html
    Reference: http://iate.europa.eu/search/standard/result/1610905921236/1
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Notes to answerer
Asker: So what would Bav. be??

Asker: It has nothing whatsoever to do with Bavaria whatsoever......


Peer comments on this answer (and responses from the answerer)
neutral  Décio Adams: Es ist möglich.
4 hrs
  -> That is very condescending of you.

neutral  AllegroTrans: a case of "Bavaria on the brain"?
21 hrs
  -> That was only to set the scene, as in the first weblink whose 'Versorgungswerk' refers in English to the term of 'open capitalization scheme'. This answer will be left for open-minded and non-categoric posterity.
Login to enter a peer comment (or grade)

5 hrs   confidence: Answerer confidence 2/5Answerer confidence 2/5
open cover plan procedure


Explanation:
That's what I think

--------------------------------------------------
Note added at 22 horas (2021-01-18 14:34:15 GMT)
--------------------------------------------------

For your explanations I looked for ways to translate this expression and it seems to me the most appropriate.

Décio Adams
Brazil
Local time: 14:28
Native speaker of: Native in PortuguesePortuguese
Notes to answerer
Asker: I dont think this has much value, sorry. I can do literal translations myself, dont need proz for it.


Peer comments on this answer (and responses from the answerer)
neutral  Brent Sørensen: It seems you’ve simply entered this term into Google translate or the like. It may well be correct, but it would be helpful to the asker if you could provide a convincing explanation and references.
8 hrs

neutral  AllegroTrans: Any refs to show this is an actual insurance industry term??
16 hrs
  -> I not know. May be.
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.


See also:
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search