Entitlement of persons resident in the territory of the United Kingdom of Great Britain and Northern Ireland to participate in supplementary pension insurance and to be provided with direct state support to supplementary pension savings

Department 36 – Financial Markets III
Department 36 – Financial Markets III

Published

  • Pension savings

Persons residing in the United Kingdom of Great Britain and Northern Ireland, who are not holders of a permanent residence in the Czech Republic but are participating in public health insurance in the Czech Republic or public pension insurance under Czech law, shall be eligible, for a transitional period, i.e. from 1. 2. 2020 to 31. 12. 2020, in accordance with the Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community, to participate in supplementary pension insurance and to be granted a direct state support to supplementary pension savings under the same conditions as persons residing in the territory of a Member State of the European Union.

As of 1. 1. 2021, these persons will be entitled to participate in supplementary pension insurance and to be provided with a direct state support to supplementary pension savings only if they are issued a permanent residence permit in the Czech Republic.

Participants in supplementary pension insurance who, at the end of the transitional period, would lose their right to participate in supplementary pension insurance pursuant to Section 19 para. g) of Act No. 42/1994 Coll., on supplementary pension insurance with a state contribution, as amended, due to loss of residence in the territory of a Member State of the European Union, have the opportunity to enter into a contract with a pension company with which they have supplementary pension insurance for supplementary pension savings pursuant to Act No. 427/2011 Coll., on supplementary pension savings, as amended. On the basis of concluding the contract for supplementary pension savings it is possible to request the transfer of funds from supplementary pension insurance (participant contributions, employer contributions, direct state support and share in profit of the transformed fund) into supplementary pension savings (participating funds). Such a procedure also enables the retention of the achieved insured period in accordance with the Act on Supplementary Pension Insurance.