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Search: Posts Made By: mrken30
Showing results 1 to 25 of 44
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Forum: USA
Apr 3rd 2023, 1:34 am
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

you pay tax on all income that had not already been taxed. You do not pay tax on ROTH income as far as I know. I don't think there's an equivalent UK pension. I agree this topic is becoming...
Forum: USA
Jun 16th 2022, 7:48 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

Could mellyj's SS payments help to increase their reduced UK pension? Or does it just help with getting a minimum pension?
Forum: USA
Jun 16th 2022, 5:33 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

When you apply for benefits—You may have some Social Security credits in both the United States and the United Kingdom but not have enough to be eligible for benefits in one country or the other. The...
Forum: USA
Jun 1st 2022, 7:32 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

This raises an interesting thought, I am about to reach my 35 years of NI contributions , with around 14 years being voluntary contributions. Should I continue contributing to reduce my WEP exposure?
Forum: USA
Jul 4th 2019, 1:55 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

Yes you can claim both but I think there is a US exit tax after 8 years. I can't remember the details.
Forum: USA
Feb 22nd 2019, 8:44 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

Not yet, but it is a guaranteed life event.
Forum: USA
Feb 22nd 2019, 8:11 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

You’ll inherit half of your partner’s protected payment (https://www.gov.uk/new-state-pension/how-its-calculated) if your marriage or civil partnership with them began before 6 April 2016 and:

...
Forum: USA
Feb 20th 2019, 3:05 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

If you are thinking of contributing another 30 something years, remember the UK Government has moved the goal posts many times on pensions.
Forum: USA
Feb 7th 2019, 1:20 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

It may be worth noting social security is based on average earnings over the last 35 years as far as I know. WEP disappears after 30 years.
Forum: USA
Mar 18th 2018, 2:47 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

That is not the impression the examples give.

https://www.ssa.gov/planners/retire/wep.html

Delaying retirement increased the reduction for WEP from $395.50 to $522.
Forum: USA
Mar 17th 2018, 3:24 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

That is how I read it also. The way I read it, is that if you immigrate to the US after age 32, your SS will have WEP applied , even if you work more than 30 years.
Immigrate age 38, you need to...
Forum: USA
Mar 17th 2018, 6:08 am
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

This is sort of good to know. It looks like I am going to lose a big chuck (45%) of social security. This could influence where I can afford to retire.
Forum: USA
Oct 25th 2017, 4:03 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

I would not be surprised if in the future HMRC will report returns details for USCs to the IRS, under some kind of FATCA agreement.
Forum: USA
Oct 24th 2017, 2:53 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

I heard the other day that in 50% of couples, one partner will live to age 92.
Forum: USA
Oct 24th 2017, 1:42 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

So it occurred to me, if I am working between 62 and 67, should I claim SSI at age 62? Would the increased deferred payment be more than the 8% if you just defer claiming until age 67. Five years of...
Forum: USA
Oct 23rd 2017, 6:33 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

It's also worth noting that if the SSA withholds your benefits and keeps you from double dipping between Social Security income and working wages, you don't lose your benefits forever. Once you cross...
Forum: USA
Oct 23rd 2017, 6:03 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

Are these limits just for earned income or does it include passive income?
Forum: USA
Oct 31st 2016, 4:43 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

I think the deciding factor may be if it's a group personal pension plan or a private personal pension plan. Maybe it's just the part the employer matched? Who knows.
Forum: USA
Oct 31st 2016, 4:42 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

So I have a bit of a mess. I had a job that had no pension plan, so I started contributing to my own personal pension. I kept this going alongside a work personal pension and then moved my personal...
Forum: USA
Oct 31st 2016, 3:54 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

Totally agree, I would like to know if there's a way of paying a two or three of years SS from self employed income or passive income. Still haven't worked that one out yet.
Forum: USA
Oct 31st 2016, 3:49 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

My own private pension was not based on employment. My work private pension was. The tax allowance were based on my income, not employment. So I'm not sure

The questions at...
Forum: USA
Oct 31st 2016, 3:36 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

I am confused about my opted out and opted in contributions. Do I count any part of my private pension that I contributed to with my reduced national insurance payments? If not, would the part of my...
Forum: USA
Sep 24th 2016, 5:03 am
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

I assume the same goes for parent credits and JSA credits. Just assume its all WEP'able.

I believe you had to apply for parent credits.
...
Forum: USA
Sep 24th 2016, 12:15 am
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

What about NI contributions paid when on unemployment benefit?
Forum: USA
Sep 22nd 2016, 11:19 pm
Replies: 1,834
Views: 536,376
Posted By mrken30

Re: UK state pension and USA social security

This link appears to work, was this the same document?
...
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