Judgment of the Court (Fifth Chamber) of 19 December 2019.#Pensions-Sicherungs-Verein VVaG v Günther Bauer.#Request for a preliminary ruling from the Bundesarbeitsgericht.#Reference for a preliminary ruling — Social policy — Protection of employees in the event of the insolvency of their employer — Directive 2008/94/EC — Article 8 — Supplementary pension schemes — Protection of entitlement to old-age benefits — Minimum guaranteed level of protection — Former employer’s obligation to offset a reduction in an occupational old-age pension — External pension institution — Direct effect.#Case C-168/18.