Pulaski

If you qualify for either social security or a British state pension the totalization agreement won't impact you. AFAIK the totalization agreement is designed to help people with sub-qualifying contributions in both the US and the UK.

If you have made 30+ years of contributions to social security when you retire then WEP won't impact you either, but with less than 30 years of contributions there will be some clawback by WEP of your social security payments based on your foreign pensions.

morpeth

Well I am impressed ! Talked to pension office in UK today- very helpful, efficient, and pointed me towards an easy to understand website showing my prior contributions. Went to bank to do a standing order, and again impressed. Don't know of any bank in area I know in US in a city of 28,000 that would have such well-trained staff. (Though not an easy process to open an account). At least where I have been staying in US nowhere near such efficiency, politeness and helpful attitude.

Pulaski

I am glad to hear that it all went so well.

morpeth

Also the offices I visited including local county office all have such new and modern décor, equipment, furniture. What a difference from the Midwest region
I have been in for a while.

shelley748

Would you mind sharing the website they pointed you to please?

morpeth

The HMRC website will show your prior contributions and also shows to catch up on any prior years contributions not made. It also showed what future pension will be ( making assumption all future payments made).

I then looked up myself UK government site on pensions, and it gave an easy to understand background ( except not abundantly clear on issues regarding Class 2 and 3 pensions.

chawkins99

I just ran my numbers on the pensions website.

It says I'm paid up for 26 years and qualify for £132.22 a week pension when I qualify in 2029.

But, it also says if I contribute for another 6 years, I would qualify for the max of £155.65 a week.

That's only 32 years' contributions. Am I reading that wrong?

Now, if I pay 6 years' back-payments of class 2, does that make me fully paid up?

I have been in the US since 2003.

Pulaski

That doesn't sound right. Unless there is a piece of the story missing (do you have any, say three, deemed years?), I don't understand how you can get a "maximum" pension with less than 35 years of contributions.

mrken30

If you are opted out, I think those years cannot be counted, but you would not receive the maximum pension

Pulaski

Opted out years do count but reduce your pension. .... Did you mean "..... I think those years cannot be counted, but you would not receive the maximum pension."

chawkins99

Yep. That's what I thought.

The detailed report shows fully paid from 1978-79 through 2003-04. From 2004, nothing.

On the State Pension Summary, it shows:
in 1978, I was still at school (until 1980). My first year of actual paid employment was 1981-82.

I was self-employed between about 1997 and 2003 if that makes a difference.

mrken30

Yes, so the pension received is based on number of years you paid in, so if you only paid in 32 years out of 35 , only 32 years would be used to calculate the pension.

Pulaski

I dunno then, but I'd love to hear the explanation.

Editha

SERPS?

Pulaski

SERPS is just the other side of the "opted out coin" mentioned above. In other words, SERPS is what you used to be able to opt out of.