The German Red Cross (Deutschen Rotes Kreuz) has outsourced the operational business of its pension fund to insurance firm Verka.

A LinkedIn post from the Pensionskasse vom Deutschen Roten Kreuz said that the boards of directors for both Verka and the pension fund had decided for the operational business to transfer at the end of the year.

The reason for this, it said, was to ensure effective business operations and the interests of the insured.


Pensionskasse vom Deutschen Roten Kreuz chairman of the supervisory board, Philip Jungen, said: "With Verka, we have gained a strong and highly competent cooperation partner. The value-oriented management approach of the Verka Group suits us. We delegate management from a position of strength. In this respect, we consider the decision to be forward-looking."

Following the transfer, Karin Germann, who sits on the board of the pension fund, will step down. The future board will consist of Vera Schopohl, Charlotte Klinnert, and Dr. Eugen Scheinker.

In a LinkedIn post, Scheinker said that he was looking forward to working with the Deutschen Roten Kreuz, saying that the deal was a milestone for both organisations.

Replying to Scheinker, Germann, said: “I can only agree with Eugen Scheinker… a real milestone and a great future solution for the pension fund of the Deutschen Roten Kreuz and Verka.”

The pension fund went on to enunciate the benefits from shifting its operational business to Verka.

It said: “The synergies realised in this way will continue to enable efficient and effective business operations in an environment of increasing regulatory requirements and digitalisation. Both sponsoring companies and their insured persons benefit equally from this cooperation, without losing sight of important elements such as personal cooperation and the consideration of the special features of the sponsors and insured persons, according to the conviction of all those involved.”

Reporting in the German publication Private Banking Magazin indicates that the pension fund currently has around 30,500 insured people, of whom just over 5,000 collect pensions. Contributions in 2023 amounted to €19.6m, with €13.6m of pensions paid out to members.

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