Withdrawal Agreement Pension Rights

Prosinec 21, 2020 9:25 pm Published by

Very little; The UK is still treated as an EU member state that remains bound by EU rules and pays to the EU budget, while all British MPs have resigned and the UK no longer has voting rights. However, the UK has been granted the freedom to negotiate trade agreements with other countries for 2021 and beyond. If you also receive a French pension and you still live in France, the coordination rules stipulate that the French system directly covers your health insurance. The withdrawal agreement maintains this coordination for people living in Europe until the end of 2020, but will then depend on negotiations on future relations. In addition, the different qualification periods for special payments for minors can be met by adding up incubation periods in other Member States or in some contracting countries. But if, for example, you have worked seven years in the UK and at least three years in another European country, you can still apply for a state pension in the UK – your work in another European country takes you across the finish line. If you have accumulated periods of insurance in a country with which the Federal Republic of Germany does not have a social security contract, you must contact the relevant foreign insurance agency. If, from 1 January 2021, you move to an EEA state or Switzerland and are not covered by the withdrawal agreement, your right to a pension or benefit from that country depends on the outcome of negotiations with the EU. As things stand, Brexit should have no influence on how you can withdraw or transfer other British pensions. However, the UK currently applies a 25% „foreign transfer tax“ (actually an exit tax) on pension transfers outside the EU/EEA. This could be easily extended as soon as the UK is no longer linked to the free movement of EU capital, which would limit the transfer period without penalty. With which countries has Germany signed social security agreements? Our Tip: If you have not yet paid German dues or if you do not know which German agency you paid your last German dues, simply contact the German Pension Federation. You inquire about the German pension fund responsible for you and you gladly submit your question or your application.

Under UK law, occupational pensions can be paid abroad. The government does not expect that to change because the UK has left the EU. Under the terms of the withdrawal contract and if your situation remains the same, your health insurance coverage and the conditions under which you are insured will not change. You will continue to receive benefits under the same conditions as you do now. This period can vary considerably depending on the different German pension requirements. For example: 45 years for the old-age pension for long-term policyholders and 5 years for the normal old-age pension. Under EU law, German insurance periods and waiting periods in other Member States are taken into account when calculating these legal periods. The law with the countries of agreement contains similar provisions. If your business pension is paid into a UK bank account, your bank should contact you if it needs to change the way you receive your pension because the UK has left the EU. If you have any questions, talk to your pension provider. The social security agreement primarily benefits the citizens of the agreements concerned.

However, depending on the agreements, they can also be applied to other persons who are not nationals of the contracting country.

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This post was written by Bibi

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