The most important facts at a glance
If you are only abroad temporarily, everything will stay the same for you. We will transfer your pension to an account of your choice.
If you move permanently to a country in the European Union, Iceland, Liechtenstein, Norway, or Switzerland, you will also receive your full pension.
If you move to a country outside the European Union or to a country with which Germany does not have a social security agreement, there may be restrictions.
Temporary residence abroad
If you are only abroad temporarily, everything will stay the same for you. We will transfer the pension to an account of your choice.
Moving to another EU country
Suppose you live permanently in a country of the European Union (EU), Iceland, Liechtenstein, Norway, or Switzerland in the future. In that case, nothing will change for you in the vast majority of cases. We will transfer your pension in the previous amount to an account of your choice.
Moving to a country with a social security agreement
Germany has concluded social security agreements with numerous countries outside the European Union. They ensure that you do not suffer any disadvantages about your pension.
If you move to such a country permanently, in most cases everything will stay the same for you. We will transfer your pension in the previous amount to an account of your choice.
Permanent relocation to a country without an agreement
If you have decided to move to a country outside the EU, Iceland, Liechtenstein, Norway, and Switzerland, with which Germany has not concluded a social security agreement, further restrictions may exist.
How do I receive my pension payouts?
In our opinion, a transfer to a bank account is the safest and quickest way to receive your pension. A transfer is possible to almost any country in the world. For transfers to an account outside the Single European Payment Area /SEPA (European Union, Iceland, Liechtenstein, and Norway), we only pay the fees up to the first correspondent bank, so additional costs may be incurred for the rest of the transfer.
You have the following options for a bank transfer:
Transfer to your account or your joint account (all countries)
Transfer to another person with an account in the European Union, Iceland, Liechtenstein or Norway
How are my pension payouts taxed?
Income tax also influences the pension amount and the actual income available. This is because, since 2005, pension expenses from the so-called pension provision can increasingly be deducted from taxable income as special expenses in Germany. In return, the pension benefits paid out are taxed at the individual tax rate. If a pensioner retains a residence in Germany in addition to their foreign residence or only moves abroad temporarily, nothing changes for them in terms of tax. They remain fully liable for tax in Germany.
Pay attention to pension taxation
However, if retirees move their place of residence abroad permanently, they are subject to limited tax liability. This can be expensive, as a permanent residence outside Germany means, for example, that the standard basic tax-free allowance in Germany does not apply when calculating tax. Prior advice from the relevant tax office or a tax expert is therefore strongly recommended.