Seven Reasons You May Be Away Without Retirement In The United States

Seven Reasons You Can't Get Social Security Benefits Informs Yahoo.

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Social Security is a lifeline for millions of retirees and other older Americans who are still working. Believe it or not, Social Security is not guaranteed. In fact, there are more than a half-dozen reasons why you could be missing out on the benefits you were counting on and earned with your taxes.

1. You Failed the Social Security Income Test

Early claimants who are still working must pass the Social Security test to be eligible for benefits. Upon reaching retirement age, such verification is not carried out. In 2021, the Social Security Administration (SSA) is temporarily withholding $1 in benefits for every $2 earned, starting at an earnings limit of $18 per year. That is, if your annual income is below this amount, then nothing additional is withheld. As soon as the annual income reaches $960, one additional dollar is withheld, if more than this amount, then $18. Although there is a more lenient monthly test for those entering the year of full retirement.

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2. You ran out of credits

To receive Social Security benefits, you must first work a certain amount of time, pay taxes into the system, and accumulate enough “credits” to qualify for benefits. In 2021, you will receive one loan for every $ 1470 in income earned, up to one loan per quarter or four loans per year. Most people need 40 credits to get Social Security benefits, which means you have to work 10 years before you qualify.

3. You have debt that is payable

It's difficult for private creditors to collect your Social Security payments, but your benefits can be used to pay off some types of other debts. These include child support and restitution, but the state determines what constitutes a valid garnishment order. If your benefits were received for any of these reasons, contact the appropriate government agency, not the SSA.

Tax debt is another item. The Treasury can take up to 15% of your Social Security benefits each month until your tax debt is paid. The Treasury may also provide relief for non-tax debt, including any federal student loans on which you may have defaulted.

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4. You hit a pennyionic civil service (Civil Service Retirement System)

Rather than paying social security, some federal employees hired prior to 1984 made contributions to the Civil Service Retirement System (CSRS). The CSRS was formed as part of the Civil Service Pensions Act of 1920 and was replaced by the Federal Employees' Pension Scheme (FERS) in 1987. CSRS recipients do not receive Social Security benefits unless they are eligible through another job or spouse.

5. You are covered by the Railway Workers' Pension Law

Some railroad workers are also covered by a non-Social Security retirement system and are not eligible for benefits. People who participate in the Railroad Retirement Act contribute more of their pay to the fund but receive higher benefits when they retire—especially “career employees” who have worked at least 30 years.

6. You are not eligible for your ex-spouse's benefits

Some people are eligible for benefits according to their ex-spouse, but first they must meet certain requirements. You must have been married for 10 years or longer and you must not remarry, although you may still be eligible if your ex-spouse remarries. There are other requirements as well, so if you were planning on applying for former spouse's track record, make sure you meet the requirements first.

7. You have moved to another country

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In most cases, you can receive U.S. Social Security in another country if you live abroad in retirement, although you must follow strict and specific rules from both the SSA and the host country. However, the SSA generally prohibits sending payments to several countries, and many of them are post-Soviet countries.

These include Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan and Uzbekistan. Some exceptions can be made for some eligible retirees in these countries, but you can never get US Social Security in Cuba and North Korea.

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