Payment abroad
As a pensioner living abroad your ATP Lifelong Pension is transferred to your bank account each month.
Charges for having money transferred abroad
From September 1st 2009 a change in the law means that now it is the individual pensioner who must pay the charges for having money transferred abroad. The charge will be deducted from every payment. At the present time, the charge is DKK 19.75.
You can choose how the money will be paid
It is a good idea to decide how you would like your ATP Lifelong Pension to be paid from now on:
- If you open - or already have - an account in a bank in Denmark, the money can go straight into that account, with no cost to you.
- If you usually have the money paid to a bank outside Denmark, and you take no action, DKK19.75 will be deducted from all your future pension payments. Your own bank may also make a charge for the transfer.
Some banks offer a special account - what they call an ‘opsamlingskonto' - in which payments from ATP Lifelong Pension can accumulate and then be transferred once or twice a year to your foreign bank. You will still have to pay a charge for the transfer - but not every month.