Pensions from previous country (now living in UK)

Hi,

I hope this is the right area for this post as it's not quite tax-related, but didn't feel right in the 'on the job' section!

I have been living and working in the UK since 2016 and have full citizenship (as well as US citizenship from birth). We are married and have 3 kids and it's highly likely we will live and work here for the rest of our lives, hence why I am looking to port my pensions over from my previous living situations:

1) Between 2005 and 2011 I was living and working in the US, mostly part time or seasonal jobs
2) From 2011 to 2013, I was a student at a Canadian University but also employed as a teaching assistant.
3) From 2013 to 2015 I was travelling but still a Canadian resident
4) From 2015 to 2016 I had a full time job in Canada

Given there are likely a lot of different pensions across various roles in different countries, I'm unsure generally where to start.

For most of these positions I will not likely have anything in terms of payslips or references to pension contributions, with the exception of point 4 (2015 to 2016 full time job in Canada).

Even if transferring all of the previous pensions over into a UK one isn't ideal for whatever reasons (e.g. tax), is it possible to transfer into a single pension pot so I can at least monitor and have visibility/clarity on what I'm entitled to in the future?

Is anyone able to offer any advice? Many thanks in advance.

I can’t help with how to track down your private pensions, but it looks like you will have contributed to the US Social Security system but probably not enough to earn benefits. (40 quarters). However, I believe that you should be able utilize them as part of the US-UK Totalization agreement.

https://www.ssa.gov/international/agreements_overview.html#:~:text=Under%20a%20Totalization%20agreement%2C%20if,program%20of%20an%20agreement%20country.

I can’t help with how to track down your private pensions, but it looks like you will have contributed to the US Social Security system but probably not enough to earn benefits. (40 quarters). However, I believe that you should be able utilize them as part of the US-UK Totalization agreement.

https://www.ssa.gov/international/agreements_overview.html#:~:text=Under%20a%20Totalization%20agreement%2C%20if,program%20of%20an%20agreement%20country.

Just a slight correction on the 40 quarters required to earn US Social Security - it's now credits not quarters - not wanting to be pedantic, but you earn a maximum 4 credits per year - so a minimum of 10 years to become entitled - but here's the rub - currently you get 4 credits not by how long you work, but by how much you earn - by earning $6,920 - which can be done in one go - no need to work 4 quarters. Basically this means that a working holiday once a year where you earn at least $6,920 (will likely increase each year)  will get you the required 4 annual credits.

Here's the link with more information:

https://www.ssa.gov/benefits/retirement/planner/credits.html#:~:text=Since%201978%2C%20you%20can%20earn,credit%20may%20change%20each%20year.

With @hatsoff2bert likely some years off retirement, keep your US options open - getting the 40 credits can be very valuable - it's all I ever earned in the US but now I have a US retirement pension  (even after 40% WEP)that pays as much as my full UK state pension - which took 35 years of contributions to earn!

Just a slight correction on the 40 quarters required to earn US Social Security - it's now credits not quarters - not wanting to be pedantic, but you earn a maximum 4 credits per year - so a minimum of 10 years to become entitled - but here's the rub - currently you get 4 credits not by how long you work, but by how much you earn - by earning $6,920 - which can be done in one go - no need to work 4 quarters. Basically this means that a working holiday once a year where you earn at least $6,920 (will likely increase each year)  will get you the required 4 annual credits.

Here's the link with more information:

https://www.ssa.gov/benefits/retirement/planner/credits.html#:~:text=Since%201978%2C%20you%20can%20earn,credit%20may%20change%20each%20year.

With @hatsoff2bert likely some years off retirement, keep your US options open - getting the 40 credits can be very valuable - it's all I ever earned in the US but now I have a US retirement pension  (even after 40% WEP)that pays as much as my full UK state pension - which took 35 years of contributions to earn!

Thanks for the correction, definitely worth knowing the nuts and bolts of this stuff.

I only knew about the 'nuts and bolts' because I sat on 36 credits for over 20 years and through my research suddenly l realised that 4 credits were within my grasp with one short term pre-retirement assignment (done in the US) where earning $5,300 (at the time) was sufficient to get me over the magic threshold - when social security is taken into account - the biggest payday of my life!