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>Good thing is, American government has sensible reciprocal arrangement with many countries that offer national pension system that you don't necessarily have t
by TurkishPoptart 7y ago
>Good thing is, American government has sensible reciprocal arrangement with many countries that offer national pension system that you don't necessarily have to wait until you hit full retirement age to live abroad and collect social security checks from there.
I did not know this. How does this work?
- pcurve 7y agoWe have agreement with the following countries. (Vietnam isn't one of them) https://www.ssa.gov/international/agreements_overview.html https://www.ssa.gov/international/agreements_overview.html In a nutshell, all national pension systems work pretty much the same way in that, the longer you put into it, the more you get out. There is also minimum that you have to put in. For the U.S., it's 40 points (or 10 years). Let's say you work 9 years in the U.S. but then decide to pack your stuff up and move to one of the above listed countries. You will get credit for 9 years worth of work and not have to start over in your new country (and the other way around too) I'm actually conflating two different topics... one is reciprocal arrangement in terms of pension point system. Another is, just being able to collect pension from abroad, which is actually not a big deal at all. https://www.investopedia.com/ask/answers/110614/how-can-i-receive-my-social-security-benefits-if-i-want-retire-outside-us.asp https://www.investopedia.com/ask/answers/110614/how-can-i-re...
- iudqnolq 7y agoI'm surprised by how well written the social security administration article is. I found it interesting and readable enough to read all the way through, which I absolutely wasn't expecting. Our tax dollars at work, I guess.