Social Security - Going back to India

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bumas

Registered Users (C)
Folks,
I know I am deviating from the purpose of this forum, but want to know some information regarding the social security we are paying here and how we will be benefitted by it, let us say when we reach 60 years or so (Know its a long way from now, just want to know the procedure)...

I heard that when we pay social security for 10 years or more, based on our paid amount we will be getting some dollars back every month after 60 years of age...Suppose I want to go back to India and settle down there after 15 years, do i get this benefit or i need to be in US for getting the benefits :)...

Just want to ask this because want to know how this system works...

Guys Can you calrify on it and if you can explain about the procedures it would be great... :rolleyes:
 
We wont see a penny

Social Security is only for US citizens. Immigrants and non-immigrants will not see a penny.
 
According to the treaty

signed long time back, Indians/US citizens residing in India will get Social Security, after retirement age, if one has contributed at least 10 years to social Security while working in USA.
One cannot work on H1 for 10 years at a stretch in USA. So, need to apply for a GC to maintain continuity.
You don't need a citizenship/Permanent Residency to get Social Security. Suppose you go back after 10/15 years, you might lose your permanent residency, if you have not applied for citizenship. But you still can get Social Security after you retire. Only certain countries have signed this treaty.
 
485sep: You are completely wrong!

A person is eligible for social security benefits if s/he pays SS taxes and earns 40 credits. 1 full yr results in 4 credits and hence the 10 yr timeframe. Information is available at http://www.ssa.gov

Also check #126.5 at http://www.ssa.gov/cgi-bin/cqcgi/@s...WD&CQ_CUR_DOCUMENT=11&CQ_RESULTS_DOC_TEXT=YES

This is another link I pulled from the site which shows how many people in different countries where paid social sec in 1998: http://www.ssa.gov/cgi-bin/cqcgi/@s...XWD&CQ_CUR_DOCUMENT=5&CQ_RESULTS_DOC_TEXT=YES

The only problem though is the way SS is funded. The current taxpayers fund for the people who are getting the benefits now and SS may run out of benefits around 2030 or so. If that is the case, anyone including US citizens may not get it and the US government need to address it. Also, future governments may overrule SS benefit payments to non-US residents but that might create the problem where H1s, etc. because of tax treaties may not be required to pay SS. Hence, the loss would be bigger for US as currently US resident aliens paying it (H1, L1, TN, etc.) are more than the non-US residents claiming it.

I do not have the link which lists the countries whose citizens are eligible if they fulfill the 40 credits but India is in this list.
 
Is the credits based on the year or how much we contribute every year? Why I am asking this is, Since most of the indians are in Tech Field they will be paying more of Social Security taxes than an average american....
 
I read some time back abt this!!!

you cannot stay on H1 for more than 6 years and even though u came on another H1 after a Gap and stayed here for another 6 years .. then also you are not eligible for social security benifts


But, no matter in which country you are living .. if you are US citizen and you are eligible for full social security benifts .. they have to pay and it is your rights to ask them
 
If you live in North Korea, some countries of former USSR ....you cant get benifits of Social security eventhough you are US Citizen.
 
No need to be a US citizen to get the benefits. SSA pays if you belong to a list of countries approved (India is amongst it, check my earlier post showing 1998 payouts) and have 40 credits. Even if you had a year of break because of H1, it does not matter. You will still have the same SSN even if you came back after any number of years. All you need to do is earn 40 credits.

All details here for non-US residents and non-US citizens: http://www.ssa.gov/international/your_ss.html

For India, read Part 3-C. So, all it takes is 40 credits and also maintain individual responsibility of notifying SSA about your address, etc. (Part-6). If the payment policy remains as is, best thing would be to make a visit to US for a month when 60 yrs, establish SS benefits and go back. But one has to live beyond 65 to get the benefits. Also note, even dependents are eligible. But then this could change in the future as I mentioned in my earlier post.

Anyway spend some time at http://www.ssa.gov and if you did not receive your SS statement, request one to chek your credits. I also notice a few incorrect posts based on rumors and self-deduced assumptions.


bumas : From www.ssa.gov

The amount of earnings it now takes to earn a credit changes each year. In 2002, you earn one credit for each $870 of your earnings. So if you have earned at least $3480 during the year, you get the maximum 4 credits.

In the year 2003, you must earn $890 in covered earnings to get one Social Security or Medicare work credit and $3560 to get the maximum 4 credits for the year.
 
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40 Q does not neccessarily mean 10 years. 4 Q in a year are based on a minimum yearly salary and most techies meet that. Say if you started in sept and have high salary you get the full 4 Q for that year. So one can get in 8 1/2 years. Many people these days are opting for canada after completing several Q in the US. They can always come back.
 
Thanks St8 for the details.. Will check the web site, you have sent...

Xiu, You have mentioned about canada, Can you give more details???? Thanks
 
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