Re: Social Security Prep before Leaving
 

Are you talking about working when you reach US retirement age? Right now at your age you can work a full time job. You will pay NI instead of SS taxes once in the UK and there is an agreement between the 2 countries. You will not be paying any further SS tax once you leave.

Re: Social Security Prep before Leaving
 

Don't forget that after reaching the UK state pension age, no more Class 1 or 2 NI contributions. If you're employed in the UK, lgabriel is correct....you won't pay FICA because of the totalization agreement.

Re: Social Security Prep before Leaving
 

Yes, I could work full-time in the UK - and had planned to do so - but it appears that if I earn over $15,000 in the UK, the SSA will decrease my SS, so why bother, at least this is how I am interpreting it.

Re: Social Security Prep before Leaving
 

Your SS is only affected if you elect to get benefits now, at age 62. If you want to work, just wait to get SS. If you feel you need the SS money for living expenses, different story.

Re: Social Security Prep before Leaving
 

What is the UK state pension age? I believe I looked at this once before and found I qualify under the old pension rules and not the new ones because of my birth date.

Yes, I realize I won't pay FICA but the USA will decrease my SS if I earn over a measely $15,000 even when in the UK. It's terrible. I don't think that even not paying FICA would make up for what I would have to pay the SSA if I didn't work.

Re: Social Security Prep before Leaving
 

Windsong, I see you mention your age ... You probably know this, but in case you didn't. It sounds like you fall into that group of people (i.e. women born before a certain date in 1953) who have a pension start date earlier than age 65. There is a calculator which tell you your exact age for the state pension.

https://www.gov.uk/calculate-state-pension/y

Click the button for state pension age then click "next step"

Re: Social Security Prep before Leaving
 

UK retirement age is 60 for women of my age...born in 1947.

Again, do you really need to draw SS now? If you don't, and wait until you're 66, your benefits are not reduced by earnings over $15K. At 62, you only get 75% of your full benefit, so it may be well to delay for a couple of years. I was 65 + 6 months, so I got 96.7%.

Re: Social Security Prep before Leaving
 

I posted my previous post before I saw this post of yours. Just to emphasize, this is to do with the longstanding increase of the women's pension age from 60 to 65, rather than the more recent rise for everyone to 66.

Re: Social Security Prep before Leaving
 

Pension age is 62 years and a few months.

Re: Social Security Prep before Leaving
 

Robin, the age 66 we've mentioned applied to full retirement age in the USA for full benefits. You can draw SS at eage 62, but the benefit amount is reduced.

Re: Social Security Prep before Leaving
 

But if you work, and the benefits are reduced for the amount of that work, then when you reach your true retirement age, the SS payment is increased - correct?

Also this might sound dumb, but if one is working abroad, how does SS know when or how much to reduce the monthly benefit? From income tax filing?

Re: Social Security Prep before Leaving
 

I shouldn't need it really but it depends on how much I earn in a full-time job and I won't know that until I am there. Regardless, I can take my company pension from the US and perhaps delay my SS. I had hoped to take it and save it for three or four years until I retire.

I also wanted to begin a business over there but that is only going to decrease my SS further, it seems. :(

Looks as though I would be paying UK taxes on the SS if I decide to take it early anyway, but I am not certain about that. I know you can earn a pretty high amount in the UK (compared to the US, that is) before anything is taxable.

Re: Social Security Prep before Leaving
 

Yes, it would be increased if I delay it.

Re the income tax filing, I don't think you have to file unless you earn over a certain amount but I haven't looked into this yet. I wonder, too, how they would know.

Re: Social Security Prep before Leaving
 

And reduced even further if you earn over $15000 in the UK.

Re: Social Security Prep before Leaving
 

For me, UK state pension age is 62. Would I still be able to pay in the last six years NI contributions?