Retirement: Retirement under palm trees - This is how retirement abroad works

Created: 04/25/2022, 13:54

By: Patricia Huber

Living where others go on vacation: More and more retirees are fulfilling this dream (symbol image).

© Adalberto Rodriguez/Imago Images

If you want to spend your retirement abroad, you can still draw your pension from Germany.

However, there are a few details to consider.

An overview.

Munich – Who would not like to spend their old age under the sun on the beach?

More and more retirees are deciding to move to another country in old age.

But how does that even work?

Do you still get your money from the German Pension Insurance (DRV) every month?

It's not quite that simple, but if you pay attention to the most important points, you can still emigrate without any problems even in old age.

Pension: No restrictions for emigrants within the EU

First of all: If you move to a country within the EU, you don’t have to fear any restrictions.

Incidentally, the same applies to Iceland, Liechtenstein, Norway and Switzerland – emigrants also receive full pensions everywhere.

However, care should be taken when relocating to a country outside the EU.

If Germany does not have a social security agreement with the relevant country, there may be restrictions.

Such an agreement currently exists with 20 countries.

These are: Albania, Australia, Bosnia-Herzegovina, Brazil, Canada and Quebec, Chile, India, Israel, Japan, Kosovo, Morocco, Moldova, Montenegro, North Macedonia, Philippines, Serbia, South Korea, Tunisia, Turkey, Uruguay and the USA.

"In individual cases, there may be deductions from the pension if your German pension entitlement also includes foreign periods, which are based, for example, on the pension agreement with Poland from 1975," says the website of the German pension insurance.

Individual advice is therefore essential.

Pension abroad: Give notice at least two months in advance

Also important: If you want to move the center of your life to another country, you have to let the DRV know in good time.

The Deutsche Post pension service should be informed at least two months in advance.

This is the only way to ensure that the pension is paid without interruption.

For this you can contact this address:

Deutsche Post AG

Renten Service

branch 13496 Berlin

GERMANY

Telephone: +49 221 569 2777

Fax: +49 221 569 2778

Of course, DRV also needs current account details for payment.

It doesn't matter whether the account is in Germany or abroad.

In order for the money to come safely, the bank details are required and a declaration of payment on which the bank also confirms the account details.

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Pension: Insurance checks whether recipients are still alive

But that's not all.

Because as soon as pensioners live abroad, Deutsche Post AG's pension service checks whether the recipient is still alive.

For this purpose, a so-called "certificate of life" is usually sent out in the middle of the year, which must be confirmed by an authority.

This must then be sent back to the Renten Service.

However, those who move to Belgium, Finland, Israel, Italy, Luxembourg, the Netherlands, Austria, Poland, Sweden, Spain or Switzerland do not need this certificate.

In these countries, authorities automatically report the death.