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05 Jun 2006 - Austrian Pension Changes

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.