I could use some advice on Social Security and the so-called Windfall Elimination Provision (WEP). Years ago, I worked in the US enough quarters to qualify for a modest amount of Social Security (estimate: $697/month at my full retirement age). For most of my career, however, I've worked in Japan, so in the future I can receive nenkin (the Japanese equivalent of Social Security).
I’ve broached the topic of benefits from two countries with the Japanese nenkin administration, and they don’t seem to care about my future US Social Security, since Japan does not have anything like a WEP calculation that would reduce my Japanese nenkin benefits.
The way I read the US Social Security Administration website information, however, it seems that if I report my Japanese nenkin to the Social Security Administration, their WEP calculator will whack my US Social Security down to only about $312/month.
I have raised this topic with three retired US expats I know here in Japan, and I get the sense that none of them are reporting their Japanese nenkin to the Social Security Administration. By avoiding the WEP, they're able to receive their full Social Security payments. One person also told me he thought that “harmonizing” the two countries’ benefits was optional.
I haven’t been able to find anything definitive on this topic, not even on the SSI website, so I would like to know: When applying for my US benefits, would I be legally obligated to report my Japanese nenkin to the Social Security Administration so they could apply the WEP to reduce my US Social Security benefits?
I’ve broached the topic of benefits from two countries with the Japanese nenkin administration, and they don’t seem to care about my future US Social Security, since Japan does not have anything like a WEP calculation that would reduce my Japanese nenkin benefits.
The way I read the US Social Security Administration website information, however, it seems that if I report my Japanese nenkin to the Social Security Administration, their WEP calculator will whack my US Social Security down to only about $312/month.
I have raised this topic with three retired US expats I know here in Japan, and I get the sense that none of them are reporting their Japanese nenkin to the Social Security Administration. By avoiding the WEP, they're able to receive their full Social Security payments. One person also told me he thought that “harmonizing” the two countries’ benefits was optional.
I haven’t been able to find anything definitive on this topic, not even on the SSI website, so I would like to know: When applying for my US benefits, would I be legally obligated to report my Japanese nenkin to the Social Security Administration so they could apply the WEP to reduce my US Social Security benefits?
Retirement Benefits: Social Security (Us and Foreign) Plus the Wep
Aucun commentaire:
Enregistrer un commentaire