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Versorgungswerk der Steuerberater in Rheinland-Pfalz
Founded in 2000, this pension institution provides old-age, disability, and survivors' benefits exclusively to members of the tax advisory profession in...
Versorgungswerk der Steuerberater in Rheinland-Pfalz
Founded in 2000, this pension institution provides old-age, disability, and survivors' benefits exclusively to members of the tax advisory profession in Rhineland-Palatinate. Its compulsory membership is tied to professional licensing through the regional Chamber of Tax Advisors, making it a textbook example of the German berufsständische Versorgungswerk system that operates alongside the statutory pension insurance for independent professionals. Investment strategy centers heavily on private equity buyouts, deployed through a pooled management structure. The fund's assets are administered by VStB NRW, a shared vehicle that also manages the pension capital of the Versorgungswerk der Steuerberater in Hessen and, more recently, the Versorgungswerk der Psychotherapeutenkammer Nordrhein-Westfalen. This pooling arrangement allows the relatively small Rhineland-Palatinate fund to access institutional fund commitments and direct co-investments typically reserved for larger investors. The portfolio is built across European and North American markets, prioritizing long-duration, capital-appreciation strategies appropriate for a liability profile measured in decades. The managing entity, VStB NRW, operates from Düsseldorf under the direction of Managing Director Bernd Huintjes. While total assets under management for the combined pool are not publicly disclosed, the bundling of three separate professional chambers creates a substantial capital base relative to stand-alone chambers. The fund is a member of the Arbeitsgemeinschaft berufsständischer Versorgungseinrichtungen (ABV), the national association representing professional pension schemes in Germany, which coordinates regulatory positions and investment collaboration across member institutions. The structural differentiator for this fund is not its standalone scale but its participation in a consolidation model. By sharing back-office administration, investment management, and deal access through VStB NRW, the Rhineland-Palatinate tax advisors' fund avoids the overhead cost and limited access that would constrain a smaller isolated pension scheme. This model mirrors a broader trend in German professional pension funds toward shared-service entities that preserve individual chamber identity while achieving institutional-quality execution.
General information
Firm type
Pension Fund
Year founded
2000
Location
Region
Europe
Country
Germany
City
Düsseldorf
Corporate office
Düsseldorf, Germany
Principals
Walter Sesterhenn
President
Sector focus
Frequently asked questions
Is this a voluntary or mandatory pension scheme?
Membership is mandatory for tax advisors licensed in Rhineland-Pfalz. The Versorgungswerk serves as the primary old-age security mechanism for this professional group, operating as a substitute for the statutory Deutsche Rentenversicherung, which is typical for liberal professionals in Germany who are exempted from the general social security system.
How does the fund access private equity investments?
The fund does not independently select and manage its own private equity portfolio. Its assets are pooled and managed by VStB NRW, a shared management entity based in Düsseldorf. This entity also manages the pension capital of the Tax Advisors' fund in Hessen and the Psychotherapists' fund in North Rhine-Westphalia, creating sufficient scale to negotiate institutional fund commitments and direct co-investment access.
Does the Versorgungswerk invest only in Germany?
No. While its liability base is domestic, the buyout strategy executed through VStB NRW deploys capital across European and North American private equity markets. The pooled structure allows for geographic diversification that a single-state, single-profession fund would struggle to achieve independently.
What is the relationship between the Versorgungswerk and the Steuerberaterkammer Rheinland-Pfalz?
The Versorgungswerk is a legally separate entity from the professional chamber, but the two are closely linked. Walter Sesterhenn serves as President of both bodies, ensuring administrative coordination. The pension fund fulfills the statutory obligation of the chamber to provide retirement security for its members, as required under the self-governance framework of liberal professions in Germany.
How are governance and investment decisions structured?
Governance follows the standard German professional pension model with an elected board drawn from the membership. Investment decisions are delegated to the managing entity VStB NRW under Bernd Huintjes, who implements the strategy set by the board. This delegation is the mechanism that enables the fund to maintain fiduciary oversight while outsourcing day-to-day asset management to a dedicated professional team serving multiple chambers.
Does the fund make direct company investments or only fund commitments?
The strategy, executed through VStB NRW, encompasses both primary fund commitments and direct co-investments alongside general partners. This blended approach is standard among institutional buyout allocators seeking to access strong GP relationships while reducing the fee drag of a purely fund-of-funds structure.
How does this fund differ from the statutory German pension insurance?
Members of the Steuerberaterkammer in Rheinland-Pfalz are exempted from paying into the Deutsche Rentenversicherung and instead make compulsory contributions to this Versorgungswerk. The key operational difference is the fund's capital-funded investment model, which allocates contributions into financial markets, primarily private equity buyouts, rather than the pay-as-you-go system used by the state pension.
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