What are the conditions of transfer?

• Savings transfer can only be performed if the client has entered into a contract on supplementary pension savings with NN under Act no 650/2004 Coll. on supplementary pension savings, as amended; the savings cannot be transferred if the client has entered into a contract on supplementary pension savings with NN based on benefit plan. 
  • If the client has a contract on supplementary pension savings based on a benefit plan and they wish to transfer their savings to this contract, it is first necessary to enter into an Annex to the participation contract – termination of the benefit plan. 
  • If the client does not have a contract on supplementary pension savings, they must first enter into a new contract on the supplementary pension savings with NN.   
• The client shall request NN for accepting their savings in a Request for accepting savings of participant from a registered pension system of the United Kingdom/Žiadosť o prijatie úspor účastníka z registrovaného penzijného systému Spojeného kráľovstva (available only in Slovak language). If the client wants to transfer funds from several UK pension companies, only one request is required. The signature on the request must be certified. This can be done in three ways:
  • they may bring the request in person to any NN branch office where the signature can be certified free of charge;
  • their signature can be certified by their financial agent;
  • their signature can be certified by a notary or at a registered office for a charge.
• The request includes a provision that the client acknowledges and accepts that: 
  • They may use their savings transferred from the UK after reaching retirement age (except for the case when the participant is awarded a disability pension as a result of an injury, illness, physical disability, and the participant submits to NN a medical report proving the complete inability to perform a profession that they performed before being awarded the disability pension).
  • Any potential future transfer of funds transferred from the UK into a different supplementary pension company or occupational pension scheme will be investigated, whether it is subject to any transfer charges that NN is entitled to transfer to HM Revenues and Customs.
  • They must inform NN without any undue delay about any change of the permanent residence via form Notice of change of identification data/Oznámenie zmeny v identifikačných údajoch (available only in Slovak language).

What is the transfer procedure? 

• The client must submit a savings transfer request to their UK pension company (workplace pension system) to transfer their savings to NN. We recommend that the client includes the information that they wish to transfer their savings into a QROPS scheme (specifically NN Tatry – Sympatia, d.d.s., a.s.) in the request.
• The transfer requirements are specified by each company individually. The pension company in the UK will inform the client of the transfer requirements within 30 days.
• The client is responsible for all communication with the UK pension company related to the transfer. If the client requires assistance from NN Tatry – Sympatia, d.d.s., a.s. (such as the completion and verification of the request or the submission of other documents), they can request it at: klient@nn.sk.
• Each request for the transfer of savings is evaluated by the UK pension companies individually.
• The client is responsible for providing the documents required by the UK pension company.
• Pension companies in the UK usually require the following information:

1. Personal information of the client

2. Information about the receiving institution, i.e., NN:

• Name of the company: NN Tatry - Sympatia, d.d.s., a.s.
• Registered office: Jesenského 4/C, 811 02 Bratislava, the Slovak Republic
• QROPS Number: 919145
• Country, in which the institution is established and regulated: Slovak Republic
• Name of the account:  ÚNP: Účet nepriradených platieb
• Account number/IBAN: SK1109000000005580605454 
• SWIFT: GIBASKBX
• Payer reference: Transfer GB “Number of the participation contract”

3. Information regarding the potential liability for the transfer charge

The UK pension company will establish if the client is resident in Slovakia, if they are employed and make supplementary pension contributions.

The UK pension company requires the above information to allow the transfer of the client’s savings to the QROP scheme and to determine whether the transfer is subject to an overseas transfer charge.

These information are provided by the client to their UK pension company on the form that is provided to them.

There is also a general form, APSS263, available from the UK tax and customs authority (HMRC, His Majesty’s Customs and Excise) for a transfer into a QROPS scheme.

A sample of a completed APSS263 form can be found here: pre-filled form APSS263.

• The pension company in the UK may require a confirmation from the institution to which the client wishes to transfer their funds, i. e. from NN. In such case, it is necessary to confirm the scanned form required by the UK pension company and send it to klient@nn.sk. The client will complete their personal information and send the completed and signed form to NN.   
• NN will send the client a signed and confirmed form will all required annexes after receiving the signed form “Request for receiving the participant's savings from the registered pension scheme in the United Kingdom” from the client. 
• Client shall then send all necessary information to the pension company in the UK.
• After receiving information about the realization of the transfer, the client shall send it to NN at klient@nn.sk.
• In order for the transferred sum to be allocated to the individual sub-accounts correctly, NN needs information (a breakdown) regarding the composition of the transferred sum in the following structure:
  • specifications on what part of the transferred savings are the participant’s contributions,
  • specifications on what part of the transferred savings is the evaluation of the participant’s contributions,
  • specifications on what part of the transferred savings are the employer’s contributions,
  • specifications on what part of the transferred savings is the evaluation of the employer’s contributions.
• We recommend that as soon as the client begins discussions with the UK pension company about the savings transfer they should also request a breakdown of the transfer value.
• As soon as the funds are credited to the client’s personal pension account, they will be informed by NN.
• Should the UK pension company reject the transfer and fail to transfer the pension rights (savings) for any reason whatsoever, the participant will continue to make supplementary pension payments in line with the applicable participation contract with NN, pursuant to the legal requirements for payment and benefits.

For more information regarding the transfer of pension rights (savings) from the UK to NN Tatry – Sympatia, d.d.s., a.s., we are available to you on the client hotline +421 2 59 800 733 on working days from 8.00 AM to 6.00 PM. You may contact us at our email address klient@nn.sk or through the contact form.