Public-law provident institutions

(1) Insofar as public-law institutions, including legally non-independent municipal and church supplementary pension funds and the Federal and Länder Pension Institution, offer old-age provision benefits by way of voluntary insurance, a separate accounting association must be established for the liabilities and assets corresponding to that business. The liabilities and assets are administered and organised separately from the institution's other business, with no possibility of transfer. The provisions of this Act governing the business of pension funds (Pensionskassen) apply correspondingly to the accounting association; the institutions are also subject to insurance supervision to that extent.
(2) For public-law institutions established under Land law and subject to Land supervision, Land law may provide otherwise.