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Topic: Social Security/Totalization  (Read 979 times)

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Social Security/Totalization
« on: September 20, 2005, 04:53:08 AM »
Hopefully someone has asked this question before and it will be relatively simple to answer:

How does Social Security work if I'm an American hired by a UK company?  I intend to withdraw SS when I reach retirement age (very far away),  so I don't expect to stop paying into it.  Likewise, I will never reap benefit from the UK pension program - so is there a way that I can be exempt?

The company is a UK subsidiary of a US company if that makes a difference.


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Re: Social Security/Totalization
« Reply #1 on: December 01, 2005, 10:22:06 PM »
Double check the numbers and call the SSA. If you continue to pay into your SSA account every month, you will be entitled to the returns similiar to a retirement age. Knowing that, don't you think it would be better to invest it into stocks, bonds and cash, provided you manage it. 60% stock and 20% of the other two will reap more than SSA will, but additionally involves some risk. Long term, the US markets have always been strong and will continue to do so. 


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Re: Social Security/Totalization
« Reply #2 on: December 02, 2005, 09:09:00 AM »
i'm a us citizen (25) working in the UK at the UK subsiderary of my US company.  i got something from the social security earlier this year.  basically it expalined something about credits- if you wrack up enough credits from working in the US you'll be fine.(don't know if you started your working life, or plan on ending your working life in the USA)

another thing my usa company does it pay me a nominal account into my usa bank.  that way i can stay on my USA healthcare, pension, etc.  according to the social security this counts (even though after tax, medical, dental etc this is pittance).  hope that helps a bit.
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Re: Social Security/Totalization
« Reply #3 on: December 02, 2005, 07:08:34 PM »
I had the understanding that there is a reciprocal agreement between the UK & US...not sure what it is though.


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