Hello All,
(1)I'm an Indian Citizen and a Canadian PR working in the US on H1B visa for an american company hired in the US for the past 5 years.Now, If I decide to move to canada, will all the Social Security Benefits in the US be transferred over to canada or I will loose all the SSN money I had paid so far?
(2) Say I have paid for SSN in the US for 5 years. If I contribute for 3 more years in SIN canada and return back to India for good, will I get all my SIN benefits after retirement eventhough I'm a citizen of india and residing in india/can I encash my SIN benefits(money I have contributed for 8 years) when I return back to India?
(3) How many years do we need to contribute in SIN in order to get the benefits after retirement?
(4) What is the retirement age at which I will start receiving the SIN benefits?
Thanks
Location: Western Hemisphere
Posted on: 15-07-10 14:38:18
I don't think I can answer all your questions. However, SS benefits are available only after you accumulate 40 quarters of eligible earnings. That would be 10 years. The 40 quarters need not be consecutive, so you could have a break in employment in the US and, say, 5 yrs later, you could go back to work in the US.
So, anything less than 10 years will not be eligible. I believe US and Canada have a treaty where you can start drawing on the SS benefits after retirement. I believe that age is now 65 or 67.
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Dimple2001
NO SIN benefits yet. But they do accrue some place. Who knows??
You can get a reduced benefit out of CPP at age 60. (might change) It is based on your contributions into it.
OAS needs minimum 10 years of stay here. Kicks in ONLY at 65.
Freddie.
US benefits are not linked to Canadian and they are independent of each other. As you said it needs 32 quarters of contributions. Not receivable out side of US.? But Canadian one is good and can be received out side of Canada but taxes are withheld prior to payment. Can be applied and recovered with a submission of a tax return. But do keep the T5's you need to show a copy to the Indian Income Tax and thumb your nose.
Hey, we are one better. !!
Edit*: Are you still a PR? Looks like you lost out on that one. Am I correct?
Please read thru this agreement between US and Canada on social security
http://www.ssa.gov/international/Agreement_Pamphlets/canada.html
Quote:
Originally posted by ChaloCanada
Please read thru this agreement between US and Canada on social security
http://www.ssa.gov/international/Agreement_Pamphlets
/canada.html
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The language and the terms used in that publication needs to be understood before one can evaluate the payments made. When an individual pays CPP contributions It gets into a fund called Canada Pension Plan and not into Canadian Social Security Taxes. In fact the money does go to the Canadian Government, but this plan is based upon the contributions that one makes into it. It is not a flat payment from it, or out of it. But there is a Maximum pay out.
I also note the requirements of contributions to the US Social Security has been moved upwards to 40 periods, for one to be qualified for the payout, the age has moved up too, for the start of the payout. Also it seems that they will be basing the payments on the receipts of other pensions. Or they are moving the system to a need based system rather than a payout from a contribution system.
It still needs clarification as to how they link the two of these and the qualifying periods. Will working in US for Five years and paying the Social Security Quarters there will be recognized here in Canada, after one moves from the US. to Canada., and how. And need to know how? It looks like it runs side by side. Then again you will have to qualify for it with the requirements imposed by USA.
Service in one country will not be recognized as service in the next. US -Canada inter alia.
Freddie.
Thank you all for the replies.But still i'm confused as to whether they will transfer over the benefits. Who do you think would be able to answer this question?
Thanks
Quote:
Originally posted by canDesi11
Thank you all for the replies.But still i'm confused as to whether they will transfer over the benefits. Who do you think would be able to answer this question?
Thanks
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It is very clear. You need 40 quarters of input into it. You don't have it
There is a 800 number issued to you from the Social Security system and they will ask you a lot of questions for verification and then again with the start date and the last payment etc., you have the papers with you to answer, so ask them about the system and tell them about your move to Canada and how it is linked.
YOU AND YOUR EMPLOYER BOTH....
While you work––If your work is covered by both the U.S. and Canadian Social Security systems, you (and your employer, if you are employed) would normally have to pay Social Security taxes to both countries for the same work. However, the agreement eliminates this double coverage so you pay taxes to only one system (see Part II).
IF YOU WANT TO WRITE AND ASK, The, you will have to provide these facts....
To establish an exemption from compulsory coverage and taxes under the Canadian system, your employer must request a certificate of coverage (form USA/CAN 101 or USA/ QUE 101) from the U.S. at this address:
Social Security Administration
Office of International Programs
P.O. Box 17741
Baltimore, Maryland 21235-7741
U.S.A.
The request may be sent by FAX, if preferred, to (410) 966-1861. Please note this FAX number is only for requesting certificates of coverage.
No special form is required to request a certificate but the request must be in writing and provide the following information:
* Full name of worker;
* Date and place of birth;
* Citizenship;
* Country of worker’s permanent residence;
* U.S. Social Security number;
* Date of hire;
* Country of hire;
* Name and address of the employer in the U.S. and Canada; and
* Date of transfer and anticipated date of return.
In addition, your employer must indicate if you remain an employee of the U.S. company while working in Canada or if you become an employee of the U.S. company’s affiliate in Canada. If you become an employee of an affiliate, your employer must indicate if the U.S. company has an agreement with the IRS under section 3121 (l) of the Internal Revenue Code to pay U.S. Social Security taxes for U.S. citizens and residents employed by the affiliate and, if yes, the effective date of the agreement.
Hope this helps.
Freddie.
