This U.S. retirement pension is based on total salary and number of years worked. The more you earn and work, the greater your usefulness. A person can start Social Security as early as age 62, but your benefit increases every year if you delay taking it until age 70. The amount of your Social Security benefit, reduced by the JLP, depends on two factors: how long you worked in the United States and how much Canadian pension you earned. Thank you for that question. Unfortunately, you had to work 30 years in the United States to avoid WFP altogether. The agreement between the United States and Canada does not help the WFP, it simply makes it easier to qualify for Social Security. The U.S. doesn`t care how long you work in Canada, but how many years you`ve worked in the U.S. If you have less than 20 years of work experience here in the United States, you might face this higher WFP reduction. I hope it helps, but let me know if you have any further questions. I have 14 U.S.
Social Security loans and 24 years of CPP contributions (or 96 quarters) in Canada. This represents a total of 110 credits, or 27.5 years. I live in the United States. If I work 2.5 years longer and earn 10 additional Social Security credits and take advantage of the tabling agreement to reach a total of 30 years or 120 quarters, can I avoid the WFP reduction? I already have a small teacher`s pension from Canada and the CPP and I am very concerned about the JLP. Hello Margaret, yes, it looks like you can collect both Social Security and CPP and don`t have a reduction in your Social Security benefit. As a general rule, you must have worked 30 years in the United States to get a free Social Security benefit from WFP. I don`t know your situation well enough to advise you on when you should start collecting your CPP, but you definitely want to start collecting at some point. If you do not agree with the decision regarding your entitlement to benefits under the Agreement, please contact a U.S. Social Security Office or a Canadian Social Security Office. People there can tell you what you need to do to appeal the decision. Yes, your wife`s social security should not be reduced by more than 1/2 of your QPP. Thank you for the questions.
You are right, your wife`s QPP benefit should not affect her spouse`s social security benefit. She receives a spouse`s allowance, so it is only your WEP reduction that would reduce her social security benefit. If you activate QPP, you both have a reduction in your social security benefits. For the United States, the agreement covers social security taxes (including the Medicare part in the United States) and social security benefits for old-age, disability and survivors` insurance. It does not cover U.S. Medicare or security pension supplement benefits. For Canada, the agreement applies to the Old Age Insurance Program and the Canada Pension Plan. . . .