If I retire and then I move to another country Will I be able to receive my social security benefits? How?
Posted on | August 19, 2008 | 3 Comments
I have a friend who is close to retire(he's 67) he owns a property in Costa Rica and another in Cuba, yes in Cuba. Well he was told that if he move to another country he will loss his social security benefits as well as the medicare. How true is that? There is any way to maintain those benefits at the same time he has fun out there???
Benefits to Cuba are out, but Costa Rica is ok…
U.S. Treasury Regulations
U.S. Treasury Department regulations prohibit sending payments to you if you are in Cuba or North Korea. If you are a U.S. citizen and are in Cuba or North Korea, you can receive all of your payments that were withheld once you leave that country and go to another country where we can send payments. Generally, if you are not a U.S. citizen, you cannot receive any payments for months in which you live in one of these countries, even though you leave that country and satisfy all other requirements.
Social Security restrictions
Social Security restrictions prohibit sending payments to individuals in Cambodia, Vietnam or areas that were in the former Soviet Union (other than Armenia, Estonia, Latvia, Lithuania and Russia). Generally, you cannot receive payments while you are in one of these countries, and we cannot send your payments to anyone for you. However, exceptions can be made for certain eligible beneficiaries in countries other than Cuba or North Korea.
To qualify for an exception, you must agree to the conditions of payment. One of the conditions is that you must appear in person at the U.S. Embassy each month to receive your benefits. Contact your nearest U. S. Social Security office or U.S. Embassy or consulate for additional information about these conditions and whether you might qualify for an exception.
If you do not qualify for payment under this procedure and you move from one of these countries to another country where we can send payments, you can receive all the benefits for which you were eligible except when you were in one of the countries listed in the section Social Security restrictions .
Is retiring with $300,000 in a savings account enough to retire in another country?
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3 Responses to “If I retire and then I move to another country Will I be able to receive my social security benefits? How?”
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July 2nd, 2008 @ 5:31 pm
Yes. I know of of a German citizen, who worked in New York, just for one year. paid into Soc Sec back in 1961-1962
she went back to Germany in 1962.
she is now 67 and had been receiving about $45 a month from Soc Sec for the past two years. She has not been back in the US for 44 years.
you just have to keep updating your address
References :
July 2nd, 2008 @ 5:34 pm
Benefits to Cuba are out, but Costa Rica is ok…
U.S. Treasury Regulations
U.S. Treasury Department regulations prohibit sending payments to you if you are in Cuba or North Korea. If you are a U.S. citizen and are in Cuba or North Korea, you can receive all of your payments that were withheld once you leave that country and go to another country where we can send payments. Generally, if you are not a U.S. citizen, you cannot receive any payments for months in which you live in one of these countries, even though you leave that country and satisfy all other requirements.
Social Security restrictions
Social Security restrictions prohibit sending payments to individuals in Cambodia, Vietnam or areas that were in the former Soviet Union (other than Armenia, Estonia, Latvia, Lithuania and Russia). Generally, you cannot receive payments while you are in one of these countries, and we cannot send your payments to anyone for you. However, exceptions can be made for certain eligible beneficiaries in countries other than Cuba or North Korea.
To qualify for an exception, you must agree to the conditions of payment. One of the conditions is that you must appear in person at the U.S. Embassy each month to receive your benefits. Contact your nearest U. S. Social Security office or U.S. Embassy or consulate for additional information about these conditions and whether you might qualify for an exception.
If you do not qualify for payment under this procedure and you move from one of these countries to another country where we can send payments, you can receive all the benefits for which you were eligible except when you were in one of the countries listed in the section Social Security restrictions .
References :
http://www.ssa.gov/pubs/10137.html#countries
July 2nd, 2008 @ 8:09 pm
You will get Social Security but not Medicare.
References :