How are things about pensions abroad?

How are things about pensions abroad?

Applying for state pensions abroad

    You must apply to the specific pension authority in the country where you reside or where you most recently worked. If the two places are different, the country in which you live will send your pension application to the country where you last worked. There are countries that submit the application form before you reach retirement age, but others do not. You should investigate this in advance. They begin processing the request as soon as it is successfully received. The pension authority collects full information about your pension contributions in all countries where you worked! The multi-country retirement process may take longer. For this reason, it is a good idea to seek pension information at least 6 months before your retirement.  The documents you need to submit to the pension authority vary from country to country. Usually, you only need to provide your bank account and ID information. Different countries have different retirement ages. For example, if you worked in a country where you would be entitled to a retirement age of 63, and in another country where you also worked the retirement age of 67, you would only be able to claim your pension from the first country. You will not be able to apply for a second pension until you are 67 years old. Ways to calculate the pension Each pension authority calculates the sum of all the contributions you have paid to their systems and those of other countries. It also calculates how much time you worked in each country. The pension authority calculates the part of the pension that you are obliged to pay according to the reported employment periods in all EU countries. The theoretical amount of the pension is the amount you would have received if you had worked in one Member State throughout your experience. It calculates what your pension would look like if you were in the same country all the time. If you qualify for a pension in the country where you apply, regardless of the periods in which you worked outside, the pension authority will also calculate the national amount of your pension (self-benefits).  You will need to compare the proportional and the individual compensation. The respective party will pay the higher of the two sums and the full "solution of the problem" will be sent by special note in response to my request. After I live within the EU, you will receive your pension from any country in which you worked in your bank account in the country where you currently reside. If you live outside the European Union, you may need to open an account in any of the EU countries that pay you a pension.