Monetary advantages of citizenship
Apr 9th 2009, 2:56 am
#16
The Unmod
Joined: Jul 2005
Location: Glen Mills, PA
Posts: 8,870
Re: Monetary advantages of citizenship
anip
PR can only claim SS pension whilst a LPR, lossing status should kill the pension, but they can then claim those contributions in the UK to get a UK pension, not so good if you qualify for both. Though that might have changed recently, you certainly can't claim a spouses aboard if widowed though unless your a USC.
PR can only claim SS pension whilst a LPR, lossing status should kill the pension, but they can then claim those contributions in the UK to get a UK pension, not so good if you qualify for both. Though that might have changed recently, you certainly can't claim a spouses aboard if widowed though unless your a USC.
Apr 9th 2009, 3:33 am
#17
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,170
Re: Monetary advantages of citizenship
Not true. The two governments have agreements to cover this. If you have forty quarters in you can have a US pension payed abroad, if not, the British add the quarters in calculating eligibility for the British pension. We had a thread on this recently with some good links.
Apr 9th 2009, 4:14 am
#18
@matthewb76
Joined: Jul 2003
Location: Missouri
Posts: 21,886
Re: Monetary advantages of citizenship
if you're USC spouse dies before you become a USC, then aren't the estate taxes crippling?
as the USCIS presumes you'll sell up and bugger off to the home country with a fistfull of dollars they'd rather keep here in the USA?
as the USCIS presumes you'll sell up and bugger off to the home country with a fistfull of dollars they'd rather keep here in the USA?
Apr 11th 2009, 8:21 am
#19
Forum Regular
Joined: Oct 2007
Location: Windsor, Berks now Santa Barbara, California USA
Posts: 92
Re: Monetary advantages of citizenship
They pay pension for both Citizens and non citizens. Tax rate its either none or lower for citizens, but you will still get a pension. Agreements between the countries guarantee a pension.
Apr 12th 2009, 4:04 am
#20
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,170
Re: Monetary advantages of citizenship
Even if you were getting it as a widower? that's handy.
Apr 12th 2009, 9:46 am
#21
Forum Regular
Joined: Oct 2007
Location: Windsor, Berks now Santa Barbara, California USA
Posts: 92
Apr 13th 2009, 11:15 pm
#23
BE Enthusiast
Joined: Nov 2006
Location: Oregon
Posts: 612
Re: Monetary advantages of citizenship
A QDOT trust could be set up to avoid - but that's paperwork...
This is an older article but explains the thinking.... (dollar amounts have changed) -
http://www.hg.org/articles/article_1031.html
