Dividend Deposit Date: What is the scheduled date for the dividend to be credited to the account? - Transfer Date of Pension: When will it appear in your account?
In this article, we will provide a clear and straightforward guide for pensioners in Germany and abroad regarding the timing and process of monthly pension payments.
The Pension Service of the German Post, acting on behalf of the German Pension Insurance, is responsible for adjustments to the pension payments and sending pension adjustment notifications. For those living in Germany, the address for the Pension Service is Deutsche Post AGBranch Office Pension Service, 13497 Berlin. For pensioners residing abroad, the address is Deutsche Post AGBranch Office Pension Service, 13496 Berlin.
Typically, the monthly pension is credited on the first day of each month for which the pension is due. However, if the first day of the month falls on a weekend or a banking holiday, the credit will be made on the last working day before that date. For instance, the pension for July is usually credited on July 1st, ensuring recipients can expect their payment on or around the first day of each month.
Regarding advance payments, it is important to note that the German Pension Insurance generally does not make pension payments in advance for upcoming months. Payments are made monthly in arrears on the due date, not before. Therefore, pension recipients usually cannot receive their monthly pension before the first day of the respective month.
The Pension Service of the German Post is also responsible for sending pension adjustment notifications, which may be necessary when there are changes in the pension amount. Survivor's pensions that follow a pension seamlessly also follow this rule.
Pensioners must inform the Pension Service if their address or account details change, as it is crucial to ensure accurate and timely pension payments. The bank has until 23:59 on the last banking day of the month to credit the pension.
In summary, the typical pension payment day is the 1st day of each month (or last working day before if 1st is a weekend/holiday). Advance payments are not typically made; pension payments are not paid before the month begins. This timing applies uniformly across statutory pensions administered by the German Pension Insurance.
If you encounter any problems or have questions, you can contact the Pension Service of the German Post, stating your post pension number. For more information, visit their official website or contact them via their designated channels.
- To manage personal-finance effectively, it might be beneficial for pensioners to consider vocational training in wealth-management, ensuring they make the most of their pension resources.
- In addition to timely monthly pension payments, the community policy could include provisions for vocational training opportunities, such as vocational training in financial planning or investment strategies, to empower pensioners in maintaining and growing their wealth.
