If I become a citizen of another country, what happens to my social security benefits?

Question

I am currently an American citizen. If I become a citizen of another country (no dual citizenship) in my 40's, what happens to all the money I put in social security? Can I get it back as a lump sum? Do I lose it?

Answer 1

If you give up your USA citizenship, you give up all of your rights here.

When you apply for benefits, you will need the following information:

your Social Security number;
your birth certificate;
your W-2 forms or self-employment tax return for last year;
your military discharge papers if you had military service;
your spouse's birth certificate and Social Security number if he or she is applying for benefits;
children's birth certificates and Social Security numbers, if applying for children's benefits;
proof of U.S. citizenship or lawful alien status if you (or a spouse or child is applying for benefits) were not born in the U.S.; and
the name of your bank and your account number so your benefits can be directly deposited into your account.

Answer 2

I hope you are not planning to renounce your American citizenship - There are tax penalties for people who do that - and you might find it difficult to return to the U.S. if you decide to come back.- If you are living outside the U.S., much of your earnings from employment will be exempt from U.S. income taxes even though you are still a citizen. (I think the earned income limit that is exempt from U.S. income taxes is about $80,000 if you are living abroad full time.)

If you have worked in the U.S. for 40 quarters (10 years), you should be able to get some Social Security Benefits when you reach retirement age, regardless of where you are living. - You might even qualify if you worked in the U.S. for less than 10 years if the country you are going to has a treaty with the U.S., allowing people who worked in both countries to get pro-rated benefits from each country's social security system. In any event, you are not going to get a lump sum from the U.S. Social Security System, regardless of what you do.

Answer 3

Earned Social protection advantages would be paid out of united states of america. you will no longer get Medicare coverage. government pension offset occurs in case you would be entitled to spousal advantages yet have little or no social protection credit of your guy or woman and acquire a central authority pension. This hits retired instructors the main. in case you have been a foreign places citizen and no longer a resident alien working for a US business enterprise, you does no longer get US social protection coverage yet would be lined by ability of regardless of public 401-k became into in result on your place united states of america.

Answer 4

You only recieve SSI benefits when you qualify for them. Disability, survivor benefits or retirements age are the main qualifications. You will not get back anything you put into the program until you hit one of those. I don't know if you will get your payments when you retire if you are no longer a citizen, but I doubt it.