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October Pension Changes in Germany: Instant Payments Start, Cash Collection Winds Down

The overhaul targets faster, safer pension payments.

Overview

  • Pension payments that would fall on Friday, October 31 move to Thursday, October 30 in federal states where Reformation Day is a public holiday, in line with DRV rules on the last bank working day.
  • The option to collect pensions in cash ends in December, and remaining recipients must provide bank account details by October 30 to avoid a temporary pause, with held sums paid once an account is supplied.
  • From October 9, euro-area providers must both send and receive instant payments and perform payee verification, while the DRV’s bulk transfers skip individual name checks so pension payouts proceed as usual.
  • The disability supplement for older reduced-earning-capacity pensions continues as a separate mid-month payment through November and will be integrated into the main pension from December.
  • Doctors, pharmacies and hospitals must use the electronic patient record since October 1; pensioners required to submit a life certificate face an October 17 deadline, particularly those living abroad.