An interesting summary on the German pension system and the new development of Pension Scheme Funds and contractual trust arrangements (posh word for what is essentially a trust, holding the assets of the employer for the beneficiary employee to secure future pension payments).

http://www.mayerbrown.com/files/Publication/d0d0bd46-efa3-46b1-b6d5-bba1de0c8efe/Presentation/PublicationAttachment/a02a460b-b483-4164-82a2-c0ddc8e077d7/White-Paper_Pension-Scheme-Funding.pdf