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Search: Posts Made By: jb82
Showing results 1 to 25 of 80
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Forum: USA
Jan 8th 2025, 2:51 am
Replies: 137
Views: 21,404
Posted By jb82

Re: WTH... WEP? Really?

The problem is the WEP provision was poorly worded and makes you feel like you are being penalised for earnings you earned fairly abroad. But the actual rationale is more about not giving an unfair...
Forum: USA
Jan 8th 2025, 2:28 am
Replies: 1,869
Views: 615,987
Posted By jb82

Re: UK state pension and USA social security

Nice
Forum: USA
Apr 13th 2024, 6:33 pm
Replies: 1,869
Views: 615,987
Posted By jb82

Re: UK state pension and USA social security

But this is not double dipping. The agreement is only using the UK years to qualify for the US social security pension but it is still only paid on the actual 8 years that they worked in the US. The...
Forum: USA
Apr 10th 2024, 3:47 am
Replies: 1,869
Views: 615,987
Posted By jb82

Re: UK state pension and USA social security

There is nothing in the totalization agreement that indicates that to my knowledge.
Forum: USA
Apr 10th 2024, 3:16 am
Replies: 1,869
Views: 615,987
Posted By jb82

Re: UK state pension and USA social security

I believe with the facts as stated that you would qualify for a us social security retirement benefits under the totalization agreement between the US and UK. The calculation is a bit complicated but...
Forum: USA
Feb 8th 2024, 3:01 pm
Replies: 1
Views: 705
Posted By jb82

Re: Tax - UK/US dual status residency, self employment, totalization agreement

I am not an expert but my understanding is that income is taxable when you receive it so you will be liable to US taxation on those amount since you were resident in the US when you received the...
Forum: USA
Sep 13th 2018, 4:59 am
Replies: 1,097
Views: 412,849
Posted By jb82

Talking Re: Class 2 NI abolished. What about us poor expats paying voluntary contributio

OP here. You just made my day too! :thumbup:
Forum: USA
Apr 15th 2016, 6:34 am
Replies: 340
Views: 113,126
Posted By jb82

Re: IRS & "Tax-Free" UK pension lump sums

You can access your pension pot at 55 in the UK anyway. You are unlikely to receive any of it tax free that is all.

1. Is your current pension a defined benefit pension - it may be more...
Forum: USA
Apr 14th 2016, 4:45 am
Replies: 340
Views: 113,126
Posted By jb82

Re: IRS & "Tax-Free" UK pension lump sums

You have to read the full paragraph together.

Subparagraph 1(a) is subject to the saving clause
If the payment is subject to the savings clause then...

Thus, a U.S. citizen who is a resident...
Forum: USA
Apr 5th 2016, 6:31 am
Replies: 1,869
Views: 615,987
Posted By jb82

Re: UK state pension and USA social security

Many US insurance companies do temporary health insurance which might be okay.

Otherwise you probably should go ahead and sign up for US health insurance from the wasington healthcare marketplace...
Forum: USA
Mar 16th 2016, 9:06 am
Replies: 1,097
Views: 412,849
Posted By jb82

re: Class 2 NI. What about us poor expats paying voluntary contributions?

Yes that seemed to be what they are leaning towards. I doubt there will be anyone with enough voice to change the Government's proposals and I imagine this was done to save the Government money...
Forum: USA
Mar 16th 2016, 8:38 am
Replies: 1,097
Views: 412,849
Posted By jb82

Class 2 NI. What about us poor expats paying voluntary contributions?

Currently paying class 2 national insurance to build up a uk state pension. I'm not sure what is going to happen when class 2 is abolished. Anyone with any further information in the coming...
Forum: USA
Nov 25th 2015, 4:10 pm
Replies: 1,869
Views: 615,987
Posted By jb82

Re: UK state pension and USA social security

Not Nun but...

A) Voluntary contributions mean that the the pension is not earnings related and therefore not subject to WEP.
This is taken from the very definition of a pension subject to WEP -...
Forum: USA
Aug 14th 2015, 7:26 am
Replies: 33
Views: 4,605
Posted By jb82

Re: Sending USA educated kids to UK universities

UKCISA - England: Higher Education - Fee status in England: Higher Education (http://www.ukcisa.org.uk/International-Students/Fees--finance/Home-or-Overseas-fees/England-Higher-Education/)

The...
Forum: USA
May 29th 2015, 6:00 pm
Replies: 3
Views: 791
Posted By jb82

Quick WEP Q - only applies once UK pension starts right?

Say I take US SS at 62 of $1000 and get my UK pension once I reach 70. WEP only applies to SS once I start taking the UK pension at 70 right? Seems logical. So I'd get the full $1000 from 62-70.
Forum: USA
May 26th 2015, 4:09 am
Replies: 2
Views: 1,606
Posted By jb82

NEST pension auto enrollment US tax issues? trust? pension?

I'm US resident.
One of my side jobs is in the UK and I may be auto-enrolled into the NEST pension scheme with this (i can opt out). NEST stands for National Employment Savings Trust which is a...
Forum: USA
May 16th 2015, 1:53 pm
Replies: 34
Views: 3,034
Posted By jb82

Re: Currency Exchange Recommendations

True but the mid market minus a commission seems to beat lower mid market every time I check.

Plus I used to think the delay in converting the funds was an issue but if you do uk faster payments...
Forum: USA
May 16th 2015, 1:52 pm
Replies: 34
Views: 3,034
Posted By jb82

Re: Currency Exchange Recommendations

Well I don't really care - just use whichever works for you. Transferwise works well and I don't see anyone beating their rates right now. At least for the transactions I do.
Forum: USA
May 16th 2015, 1:33 pm
Replies: 34
Views: 3,034
Posted By jb82

Re: Currency Exchange Recommendations

Not really most banks trade at a rate below the mid market AND have a commission on top. Transferwise trade at the mid market with a commission. They have to make money somehow.
Forum: USA
May 15th 2015, 7:04 pm
Replies: 34
Views: 3,034
Posted By jb82

Re: Currency Exchange Recommendations

Cool. Did you receive it by wire or ach? It always took my xetrades a week. Maybe they are faster right now.

More importantly right now 1000gbp nets you
xe $1526.72 transferwise $1564.62...
Forum: USA
May 15th 2015, 6:54 pm
Replies: 34
Views: 3,034
Posted By jb82

Re: Currency Exchange Recommendations

from the website
How much does TransferWise cost?
TransferWise always converts money at the real mid-market exchange rate, with no hidden commission on top. There's just a small, fair service fee...
Forum: USA
May 15th 2015, 4:05 pm
Replies: 34
Views: 3,034
Posted By jb82

Re: Currency Exchange Recommendations

I used to use XE but realize the rates are mediocre at best. My xe trades usually took at least a week as well. I've never had any issues with them though in the 5 years I used them.

I've...
Forum: USA
May 10th 2015, 5:04 am
Replies: 2
Views: 963
Posted By jb82

Investing in the UK - Resident in the USA

I have some money in the UK that I am not sure if I want to move to the USA right now eg low exchange rate

Does anyone do the same ie invest in the UK whilst resident in the USA and if not why...
Forum: USA
Apr 16th 2015, 8:42 am
Replies: 1,869
Views: 615,987
Posted By jb82

Re: UK state pension and USA social security

I think GPO is supposed to be US government pensions only. From their POMS manual:
1. Government

Government means:
Federal - The United States Government, including military service (see RS...
Forum: USA
Apr 5th 2015, 7:48 am
Replies: 1,869
Views: 615,987
Posted By jb82

Re: UK state pension and USA social security

To add to the discussion the SSA seems to treat pensions such as the one in the UK as follows for WEP purposes in their POMS manual:

"4. Unique payments
When an employer or pension-paying agency...
Showing results 1 to 25 of 80
 
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