UK state pension and USA social security
Sep 13th 2017, 12:00 am
#1396
Just Joined
Joined: Nov 2015
Posts: 5
Re: UK state pension and USA social security
Depends on your situation. Will you still be working or will you be retiring, do you need your pensions now? Usually the financial advice is to take your US SS pension as soon as possible, if you are still working that would be at full retirement age as before that your pension is reduced $1 for every $2 you earn.
If you receive any pension from earnings not subject to US SS withholding it will trigger WEP on your US SS, although I'm not sure about your UK gov works pension, I don't see any reason why it would be any different.
If you defer your UK pension(s) your US SS will not be reduced by WEP until you such time as you start taking any of you UK pensions.
If you will still be working, and your UK pension(s) are in deferral, you can collect all of your US SS pension without WEP. I currently do this, but when I retire and collect my other pensions my US SS will be reduced by $400.
If you receive any pension from earnings not subject to US SS withholding it will trigger WEP on your US SS, although I'm not sure about your UK gov works pension, I don't see any reason why it would be any different.
If you defer your UK pension(s) your US SS will not be reduced by WEP until you such time as you start taking any of you UK pensions.
If you will still be working, and your UK pension(s) are in deferral, you can collect all of your US SS pension without WEP. I currently do this, but when I retire and collect my other pensions my US SS will be reduced by $400.
I assume that even if I defer the UK state pension until later, WEP will apply due to my UK gov works pension as this will be taken into consideration by the US SS system. Is that correct or do I have that wrong?
Sep 13th 2017, 1:49 am
#1398
Just Joined
Joined: Nov 2015
Posts: 5
Re: UK state pension and USA social security
Many thanks for the swift response and sadly I may have to rethink taking the US SS at 66, just so they do not reduce it too soon. Just defer it a few years, but still retire at 66 with a little less $ for a while. Had enough of the Middle East debacle, time soon to chill out.
With all the volume of your posts, maybe you deserve a little time off yourself!! Take care.
Kind regards,
Sep 13th 2017, 1:22 pm
#1399
Forum Regular
Joined: Feb 2013
Location: Los Angeles
Posts: 158
Re: UK state pension and USA social security
Wondering if you can suspend your Gov Works pension. If so, then ask the question of the SS administration if that will then allow you to receive full US SS pension if you also defer your UK OAP?
If not then crunch the numbers, which pension will give you the most annually when deferred. UK grows at 5.8% and US grows at 8%.
One other point I'm not sure about, I know that if your SS Pension has WEP applied then your annual COLA on that pension is on the reduced amount and not the original amount you were entitled to. In the case of you deferring your US SS pension but receiving a UK pension I don't know if the 8% annual increase is on the full amount or the WEP'ed amount. I'm sure someone here may know the answer to that question, but it may be worth asking the SS administration.
If not then crunch the numbers, which pension will give you the most annually when deferred. UK grows at 5.8% and US grows at 8%.
One other point I'm not sure about, I know that if your SS Pension has WEP applied then your annual COLA on that pension is on the reduced amount and not the original amount you were entitled to. In the case of you deferring your US SS pension but receiving a UK pension I don't know if the 8% annual increase is on the full amount or the WEP'ed amount. I'm sure someone here may know the answer to that question, but it may be worth asking the SS administration.
Sep 13th 2017, 9:58 pm
#1400
Just Joined
Joined: Nov 2015
Posts: 5
Re: UK state pension and USA social security
Wondering if you can suspend your Gov Works pension. If so, then ask the question of the SS administration if that will then allow you to receive full US SS pension if you also defer your UK OAP?
If not then crunch the numbers, which pension will give you the most annually when deferred. UK grows at 5.8% and US grows at 8%.
One other point I'm not sure about, I know that if your SS Pension has WEP applied then your annual COLA on that pension is on the reduced amount and not the original amount you were entitled to. In the case of you deferring your US SS pension but receiving a UK pension I don't know if the 8% annual increase is on the full amount or the WEP'ed amount. I'm sure someone here may know the answer to that question, but it may be worth asking the SS administration.
If not then crunch the numbers, which pension will give you the most annually when deferred. UK grows at 5.8% and US grows at 8%.
One other point I'm not sure about, I know that if your SS Pension has WEP applied then your annual COLA on that pension is on the reduced amount and not the original amount you were entitled to. In the case of you deferring your US SS pension but receiving a UK pension I don't know if the 8% annual increase is on the full amount or the WEP'ed amount. I'm sure someone here may know the answer to that question, but it may be worth asking the SS administration.
Sep 14th 2017, 12:09 am
#1401
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,965
Re: UK state pension and USA social security
If you are in receipt of pensions from the UK, WEP will be calculated and applied to your SS when you claim that.
Sep 24th 2017, 10:29 pm
#1402
Just Joined
Joined: Mar 2009
Posts: 23
Re: UK state pension and USA social security
Hi,
Looking for some clarity please?
I now live permanently in the US and am 62. I will qualify for a full UK SS pension when I decide to and know it can be paid direct to my US bank account and will need to be declared as income.
I have never worked in the US, but my wife does and will qualify for, hopefully, the full amount of US social security. The question is, will I also qualify for US SS as a spouse? If I do, at what age can I claim it, or do I have to wait till my wife reaches retirement age?
Advice welcome
Many thanks
Looking for some clarity please?
I now live permanently in the US and am 62. I will qualify for a full UK SS pension when I decide to and know it can be paid direct to my US bank account and will need to be declared as income.
I have never worked in the US, but my wife does and will qualify for, hopefully, the full amount of US social security. The question is, will I also qualify for US SS as a spouse? If I do, at what age can I claim it, or do I have to wait till my wife reaches retirement age?
Advice welcome
Many thanks
Sep 25th 2017, 6:03 am
#1403
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,965
Re: UK state pension and USA social security
Hi,
Looking for some clarity please?
I now live permanently in the US and am 62. I will qualify for a full UK SS pension when I decide to and know it can be paid direct to my US bank account and will need to be declared as income.
I have never worked in the US, but my wife does and will qualify for, hopefully, the full amount of US social security. The question is, will I also qualify for US SS as a spouse? If I do, at what age can I claim it, or do I have to wait till my wife reaches retirement age?
Advice welcome
Many thanks
Looking for some clarity please?
I now live permanently in the US and am 62. I will qualify for a full UK SS pension when I decide to and know it can be paid direct to my US bank account and will need to be declared as income.
I have never worked in the US, but my wife does and will qualify for, hopefully, the full amount of US social security. The question is, will I also qualify for US SS as a spouse? If I do, at what age can I claim it, or do I have to wait till my wife reaches retirement age?
Advice welcome
Many thanks
Sep 25th 2017, 12:25 pm
#1404
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,446
Sep 25th 2017, 1:59 pm
#1405
Just Joined
Joined: Mar 2009
Posts: 23
Re: UK state pension and USA social security
I claim my SS via my spouse having never worked in the USA. You will receive 50% of her SS payment. You claim yours when she claims hers. Also if you don't know when you are 65 you can claim medicare based on your wife's contributions. With medicare you can claim when you are 65 and don't have to wait for your wife to claim.
Sep 25th 2017, 4:27 pm
#1406
BE Forum Addict
Joined: Aug 2013
Location: Athens GA
Posts: 2,134
Sep 25th 2017, 4:53 pm
#1407
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,965
Re: UK state pension and USA social security
The don't should have been didn't, or one of those comma thingies after know. I want to Tyler's Croft Secondary Modern School, gramma was not a compulsory requirement to be allowed to leave.
Oct 23rd 2017, 2:54 am
#1408
Lost in BE Cyberspace
Joined: Jul 2016
Posts: 10,006
Re: UK state pension and USA social security
I claim my SS via my spouse having never worked in the USA. You will receive 50% of her SS payment. You claim yours when she claims hers. Also if you don't know when you are 65 you can claim medicare based on your wife's contributions. With medicare you can claim when you are 65 and don't have to wait for your wife to claim.
Also, can one work outside of USA while collecting US social security ? I read somewhere that one cant work or more than 45 hours a month and still receive social security. ( Trying to determine whether to take social security at 62- makes sense except not if I would be penalized working more than 45 hours a month).
Oct 23rd 2017, 12:28 pm
#1410
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,446
Re: UK state pension and USA social security
I assume though wife would have to be 62 to collect 1/2 my US social security payments ?
Also, can one work outside of USA while collecting US social security ? I read somewhere that one cant work or more than 45 hours a month and still receive social security. ( Trying to determine whether to take social security at 62- makes sense except not if I would be penalized working amore than 45 hours a month).
Also, can one work outside of USA while collecting US social security ? I read somewhere that one cant work or more than 45 hours a month and still receive social security. ( Trying to determine whether to take social security at 62- makes sense except not if I would be penalized working amore than 45 hours a month).
I found this current advice for 2017:
In 2017, Social Security recipients who earn more than $16,920 will have $1 withheld for every $2 earned above that limit. Recipients who turn their full retirement age this year can earn up to $44,880, but their benefit is reduced by $1 for every $3 earned above this higher limit.