Retirees living abroad may have something to do.
According to the Pensions Act, annual data reconciliation with pensioners who live or reside abroad is scheduled for March each year, Adó.hu notes. There are now two ways to negotiate maybeor directly by contacting the benefit recipient, or with the participation of a foreign social security institution.
In the first case, the Pensions Disbursement Authority, Pensions Disbursement Directorate of the Hungarian State Treasury sends a data reconciliation form to the respective pensioners, which must be completed, signed and returned to the Disbursement Authority within one month. An important validity requirement is that the handwritten signature be notarized by a court, notary public, pension insurance agency, other foreign authority, pension fund, payment service provider or foreign representative body in Hungary.
If the person receiving retirement benefits resides in a medical institution or a social institution, or receives care from such an institution due to his health or social status, certification by the head of the institution or its physician is also acceptable. Data reconciliation can also be done using an electronic form. In this case, paper data reconciliation should only be done every three years.
It is recommended to take care to ensure that data reconciliation is done in a timely manner, otherwise the service will be interrupted. However, the unpaid amount will not be forfeited if the vesting is established later, and the vesting will be granted retroactively for a maximum of five years.
Since 2021, it has also become possible to carry out annual data reconciliation with the participation of the relevant social security administrative bodies, without the direct participation of pension recipients. This is currently possible for two countries, Germany and Australia. It eases the situation of those receiving benefits to the extent that they do not have to complete the above tasks related to the settlement form. It is important to know, however, that changes that pension recipients must report to the disbursement authority in order to receive benefits (for example, a change of name or a change in a current account number) must be communicated directly to the person concerned.
