Austrian Pension Changes
Recipients of an Austrian pension who are still incurring commission charges from Austrian banks are advised to close their Austrian bank account in order to avoid account-running charges.
To transfer their pension from Austria to the UK, pensioners had to open an account at an Austrian bank, usually Creditanstalt-Bankverein or Bank Austria. Today, however, to avoid charges it is possible to have the annuities transferred direct by the pension authority in Vienna to a UK account via the Deutsche Post Stuttgart. Application forms for the direct transfer of a pension are available from this office.
Quoting your account number, Creditanstalt-Bank Austria – which merged in 2003 – can be contacted at: Internationale Privatkunden, Schottengasse 6, A-1010 Vienna, Austria.