shopper332

Happy New Year

(I think) It's complicated, but here goes anyway.

British citizen, born 1952, came to the USA in 1989. Have 30 years (bought some make-up years) UK state pension credits (and applied to start receiving UK pension this January 2017) and 21 years "substantial earnings" in the USA. I have a full-time job and would like to retire when I reach 66 in January 2018.
My wife is a US citizen, born 1957. She has several years (?) social security contributions before she became a teacher. She plans on retiring in November 2018, when she will get the maximum pension from CalStrs.

Not sure what the incoming administration will do to social security, so thinking I should claim social security asap? Can my wife claim on my social security and/or UK pension? Any ideas or suggestions for the best strategy would be greatly appreciated.

I've read these forums, bought three books, visited both the UK and US pension websites (numerous times) and researched several other online pension/wep forums and can say, without fear of contradiction, that I am thoroughly confused.

Cheers

morpeth

I have had same confusion. I think there is a thread on "Voluntary National Insurance Contributions " that deals with some of the WEP issues.

My own thoughts is take social security payments as soon as possible. First because one never knows how long one will live, so getting in payments sooner rather than later makes sense unless one is quite well-off.

Assuming your wife is the same age, my understanding is if you have been married over 10 years, that her social security is low, that she can receive up to 50% of your social security payments. First step is to request from social security a social security statement of what her forecast social security is.

I have no idea whether she can claim some payments from UK pension if she is not resident. I have been wondering the same thing.

lansbury

The answer to that question is here. https://www.gov.uk/state-pension/eligibility

Asg123

I would leave this consideration out.

You might take into account that each year you delay taking your US SS, you may benefit from around a 10% smaller WEP reduction.

durham_lad

I agree.

The OP is 65 so only has another 5 years to see what transpires. If a decision is made to change SS then the change will almost certainly happen in the following tax year.

For example, one loophole used to be that you could claim at 62 invest all your SS payments then years later "change your mind", pay back all the money you have been paid, start collecting at the higher rate and keep all the profits you made on the investments. When Congress killed that loophole a few years back it was to take effect on Jan 1st the following year which gave plenty of time for the folks who were doing this to begin to claim at the higher rate and pay back what they had been paid.

lansbury

It is 5% a year but the point is still a valid one.