Particle.news
Download on the App Store
4 ARTICLES
·
2w ago

Germany to End Cash Pension Payouts by Year-End

Deutsche Post’s pension service has launched a final push to secure bank information from about 3,300 retirees ahead of the digital-only transition at year-end.

Image
Image
Image
Image

Overview

  • The legacy Zahlungsanweisung zur Verrechnung option will cease after the December 1, 2025 payout, making digital bank transfers mandatory for all statutory pensions.
  • Deutsche Rentenversicherung and Deutsche Post have been notifying the estimated 3,300 affected pensioners since early 2025 and will send additional reminders before the December deadline.
  • Retirees without their own bank account may designate a trusted person’s EU/SEPA account to receive pension transfers under the 2016 Payment Accounts Act.
  • Missing the December 31 deadline for submitting valid account details will trigger a temporary suspension of pension payments.
  • With Postbank’s mid-2026 system upgrade looming, the shift aligns with broader digitalization efforts to boost efficiency, reduce costs and enhance security.