1. 1© 2002 moneyoptimal GmbH Pension Plan Proposal Issued March 2002

2. 2© 2002 moneyoptimal GmbH Content 1.Alternatives and legal requirements 2.Your company‘s requirements 3.Our recommendation 4.Facts and figures 5.Benefits for you and your employees 6.For further information

3. 3© 2002 moneyoptimal GmbH 1. Alternatives and legal requirements Pension promises Relief Fund „Unterstützungs- kasse“ Direct Insurance Pension Pool „Pensionskasse“ (under legal control) Employee claims... direct to employer via relief fund to employer to insurance Pension Fund „Pensionsfond“ to pension pool to agency handling the „Pensionsfond“ Payed by... employer: reserve for pending claims or reinsurance necessary employer and/ or employee employer or employee employer and/ or employee Limit... unlimited max. 1.752 € p.a. or 2.150 € if based on average to 4% of base salary Taxation employer... neutral if reinsured, otherwise tax reduction tax deductible operating expenses tax deductible operating expenses if payed by employer, flat-rate tax if payed by employee tax deductible operating expenses Taxation employee... only subject to tax during pension period flat-rate tax during saving period, payment free of tax if payoff all at once, partly free of tax if paid as annuity free of tax but only according to „ Riesterrente“ only subject to tax during pension period Issues for employer... huge amount of work concerning balance full responsibility complicated for HR tax savings possible risk transfer easy to handle risk transfer very easy to handle risk transfer very easy to handle risk transfer very easy to handle flexible investment Issues for employee... tax reduction by shifting salary to pension period high yields possible low flat-rate tax saving of social insurence contribution only annuity possible low yield higher yield possible tax deductible operating expenses claim up to 256.000 € or 25.800 € annual pension

4. 4© 2002 moneyoptimal GmbH Content 1.Alternatives and legal requirements 2.Your company‘s requirements 3.Our recommendation 4.Facts and figures 5.Benefits for you and your employees 6.For further information

5. 5© 2002 moneyoptimal GmbH 2. Your company‘s requirements  Both employer and employee should be allowed to contribute to the Pension Plan  Employer‘s payments should be tax deductible  The risk/return ratio needs to be well balanced  „Provider“ should offer a variety of appropriate solutions in order to attract all employees  Easy handling for HR – avoid additional workload  Service for the employees should be covered by external financial advisor  What else is important for you? Just let us know...

6. 6© 2002 moneyoptimal GmbH Content 1.Alternatives and legal requirements 2.Your company‘s requirements 3.Our recommendation 4.Facts and figures 5.Benefits for you and your employees 6.For further information

7. 7© 2002 moneyoptimal GmbH 3. Our recommendation: The Relief Fund „Unterstützungskasse“  Pro‘s for the you as an employer: Very flexible Almost unlimited Different options within this system possible Easy handling for HR Meets all needs  Pro‘s for your employees: High yield Well balanced risk/return ratio No limit Tax saving

8. 8© 2002 moneyoptimal GmbH How does the Relief Fund „Unterstützungskasse“ work? Employee defines individual pension plan within a given framework ContributionsSupply Employee Employer Insurance Company

9. 9© 2002 moneyoptimal GmbH Relief Fund – financed by employer Relief Fund Employer financed employer provides determined pension plan employee can enlarge it by own contributions attractive Pension Plan Very Employee financed different partners possible different options possible high flexibility: - annuity / payoff - live / rent insurance, investment Direct insurance employee financed and employee

10. 10© 2002 moneyoptimal GmbH The two pillars – Direct Insurance Taxation Relief Fund „Unterstützungskasse“ 20 % flat tax rate Only subject to tax during pension period Supplements No contributions in case of disability Disability annuity Payment in case of death Widower insurance No contribution in case of disability Payment in case of death Advantages Suitable... Tax free even during pension period Flat tax rate during contribution period Good profits As basic insurance To add supplements As supplement to direct insurance For tax saving reasons For employees with high salaries High profits possible, yield on gross salary Tax reduction by shifting salary to pension period Why should they be combined

11. 11© 2002 moneyoptimal GmbH Benefits of combining Relief fund with Direct Insurance Attractive Pension Plan Relief Fund mainly responsible for: old age pension tax saving high profits Direct insurance mainly responsible for: disability insurance (stand alone or in combination with life / pension insurance) risk life insurance Advantage of the combination: annuity / payoff for disability insurance is partly or fully tax free via direct insurance higher contributions possible in total high flexibility concerning benefits (payment in case of death, disability, early retirement)

12. 12© 2002 moneyoptimal GmbH Select from our „menue“ What is it? What´s the benefit? Life / Pension insurance Regular life / pension insurance no risk high reliability stable return on investment appropriate profit payment in case of death possible disability insurance including annuity can be integrated Investment Pension Combination of life / pension insurence and investment stability of return on investment good diversity based on different fonds or asset management low risk high yield based on efficient asset management best fonds / shares of leading fond companies payment in case of death possible disability insurance can be integrated „Konzepttarif“ Portfolio 70% REX 30% stocks (managed) stability of return on invest- ment due to mixture of REX and shares low risk through REX high yield based on pro- fessional stock manage- ment very high profits possible disability insurance can be integrated

13. 13© 2002 moneyoptimal GmbH Content 1.Alternatives and legal requirements 2.Your company‘s requirements 3.Our recommendation 4.Facts and figures 5.Benefits for you and your employees 6.For further information

14. 14© 2002 moneyoptimal GmbH 4. Facts and figures: annual contribution 2.250 € Male; age 35 years; duration 30 years Equivalent to an employer‘s contribution of 4% and annual gross salary of 45.000 € Life / Pension insurance guaranteed payment Investment PensionKonzepttarif 107.000 €105.000 €83.000 € total payment (incl. profit) 251.000 €230.000 € to 310.000 €277.000 € payment in case of death 90.000 € + profit available balance guaranteed annuity 579 €536 €435 € total annuity 1.964 €1.780 € to 2.120 €2.235 € contribution 67.500 € payment 251.000 € contribution 67.500 € payment 278.000 € contribution 67.500 € payment 285.000 € all total payments are calculated and not guaranteed

15. 15© 2002 moneyoptimal GmbH Content 1.Alternatives and legal requirements 2.Your company‘s requirements 3.Our recommendation 4.Facts and figures 5.Benefits for you and your employees 6.For further information

16. 16© 2002 moneyoptimal GmbH 5. Benefits for you and your employees  No additional cost for the pension plan (our commission is paid by the insurance)  We make your life easier by  handling the pension plan  advising your employees  monitoring the legal requirements  We support your HR department (proactive information about legal changes, know-how transfer how to put it into practice)  We help you increase your attractive- ness for your employees by offering a special pension plan Advantages for you as an employee  Every employee will find an option fitting him perfectly  Individual information about pension plan  We are the direct contact person – every day  Full-service regarding all questions concerning the pension plan Advantages for your employees

17. 17© 2002 moneyoptimal GmbH Content 1.Alternatives and legal requirements 2.Your company‘s requirements 3.Our recommendation 4.Facts and figures 5.Benefits for you and your employees 6.For further information

18. 18© 2002 moneyoptimal GmbH...or visit our website http://www.moneyoptimal.de/ Please contact... Richard Aigner and/or Jürgen Held moneyoptimal GmbH Bajuwarenstrasse 43 81825 München Tel: 089 / 427 207 - 00 Fax - 01 service@moneyoptimal.de 6. For further information