Pensions paid abroad
People who are permanently resident abroad have their pensions paid to their address abroad or to a personal account held at a financial institution abroad or in the Czech Republic. Pensions are paid out to addresses abroad four times a year, every March, June, September and December, retroactively for the elapsed quarter. Payments into accounts held abroad are remitted in the currency of the given country or in another freely convertible currency. Payment is effected by credit transfer through the Czech National Bank and the appropriate correspondence bank abroad, retroactively and at the time intervals designated by the pension beneficiary. Payments to accounts in the Czech Republic are retroactive, denominated in Czech koruna and effected through the Czech National Bank. To have a pension paid abroad the beneficiary must send to the CSSA a “Certificate of Life” form; this confirmation must be sent at least once a year to the CSSA, duly completed and furnished with an officially authenticated signature.
As of 31.12.2010 the CSSA paid out a total of 59,548 pensions to 72 countries around the world. The most common destinations for pensions paid out abroad in 2010 were Slovakia with 17,235 pensions, Poland with 12,369 and Germany with 11,633.
The ten most common destinations for pensions paid out abroad by the CSSA in 2010
|Country||Number of pensioners|