GPI Clarifies: Pension Payments Unaffected by PSD3 in October

Don't believe the rumors. Pension payments will continue as scheduled in October, despite the new EU directive. The GPI has your payments covered.

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2025 October 20 . 10:02 PM

1 min read

In the picture we can see three boys standing near the desk on it, we can see two computer systems... — In the picture we can see three boys standing near the desk on it, we can see two computer systems towards them and one boy is talking into the microphone and they are in ID cards with red tags to it and behind them we can see a wall with an advertisement board and written on it as Russia imagine 2013.

GPI Clarifies: Pension Payments Unaffected by PSD3 in October

The German Pension Insurance (GPI) has clarified that recent social media discussions about pension payments halting in October are false. Pensioners will not be affected by the new EU directive, Payment Services Directive 3 (PSD3), which aims to enhance security in online payments.

The GPI has confirmed that pension payments will continue as usual from October, despite the implementation of PSD3. The directive requires banks to verify that the recipient's name exactly matches the IBAN during transfers, a measure aimed at reducing fraud. However, the GPI has decided to 'waive the IBAN name check for pension payments' due to the planned opt-out procedure for certain payments, including pension disbursements.

The GPI has addressed false claims about pension payments being halted in October. The pension payment dates for the entire year 2025 are already set and will only differ for advance and arrears payments. Pensioners can rest assured that their payments will continue as scheduled.

The GPI has reassured pensioners that their payments will not be affected by the new EU directive PSD3. Pension payments will continue as usual from October, with the GPI opting out of the strict name-IBAN match requirement for pension disbursements.