LONDON (Aug. 21)
The British Treasury today announced that the Federal German Government has agreed to allow the transfer of pensions on a limited scale to persons resident in the United Kingdom who have pension rights originating in Germany, but who were excluded from the regulation for the release of blocked pension accounts made Feb. 26, 1951.
Last September, the German Government agreed to allow the transfer of pensions between residents in West Germany and those of Britain. However, German regulations issued this February allowed the transfer of pensions only to those pensioners who had resided abroad before they took up employment in the Federal Republic, thus excluding German emigrants now living in Britain. Today’s announcement makes it clear that from now on the transfer of pensions from Germany will be made without any prior examination other than that of genuineness, provided that the amount involved does not exceed 300 German marks monthly.
In its announcement today the British Treasury points out that Britain has accepted the new arrangement only out of consideration that the German Government still has difficulty in earning sufficient foreign exchange to meet its essential requirements. However, the British Government has at the same time informed the Federal Government of West Germany that Britain will ask for an increase in the monthly limit if it becomes evident that such increases could be met by the German Government without serious repercussions.