Social Security
Americans who work in a foreign country rarely realize the long-term consequences of accepting a job abroad, although the decision can severely reduce their American old-age pension from Social Security.
In 1983 the U.S. Social Security Act was amended to “remove the advantage which the Social Security benefit formula provides for persons earning substantial pensions from non-U.S. Social Security sources,” such as foreign pension systems.
It thereby shrinks the amount of American old-age pension, often by a substantial amount, by application of the Windfall Elimination Provision (WEP) offset.
AARO supports the repeal or reform of the WEP, which currently penalizes Americans who have contributed to U.S. and one or more foreign countries’ social security systems. AARO is a member of the Coalition Assuring Retirement Equity (CARE), a Washington alliance dedicated to repeal of the WEP.
For a more detailed analysis of the issue, please consult AARO's Position Paper on Social Security.
Social Security & Medicare Primer: Order Now!
Social Security & Medicare Primer: How it works when you live outside the USA.
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AARO News - Social Security
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The Changing Face of Social Security and Medicare AARO members who braved the Paris transport strikes to attend the Social Security and Medicare event in November were rewarded by an authoritative and detailed presentation of those complex subjects. Richard...
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