KARLSRUHE (dpa-AFX) - The German Federal Court of Justice (BGH) is set to announce its decision this Tuesday on a controversial clause on acquisition and brokerage costs in a Riester pension model of a savings bank in Bavaria. The presiding judge said after the hearing in the morning that the ruling would be pronounced at 1.00 pm. According to a preliminary assessment by the judges in Karlsruhe, the passage "In the event that an annuity is agreed, the saver may be charged acquisition and/or brokerage costs" is likely to be declared invalid due to a lack of transparency.
According to the Baden-Württemberg Consumer Advice Center, which has initiated several proceedings regarding such clauses, numerous contracts from other institutions are also likely to be affected. Higher regional courts have so far ruled differently.
The representative of Sparkasse Günzburg-Krumbach argued before the BGH that the wording was so open that it should be understood as a general reference and not as a legally binding contractual condition. It was a contract that was only possibly concluded in the distant future. The consumer protection lawyer argued that the "possibly" did not mitigate the fact that customers would be burdened with costs. She considered the wording to be more of an authorization to charge costs as they see fit. (Ref. XI ZR 290/22)/kre/DP/zb