Serbinski Weinberg, Ltd., Certified Public AccountantsTax and other financial matters concerning Canadian professionals in the U.S. and U.S. citizens in Canada Includes income and estate taxation, social security, health insurance, retirement accounts, cross border tax issues, and other matters affecting your pocketbook. Topic Administrator: Mark T. Serbinski, CA, CPA of Serbinski Weinberg, Ltd. CPA's and Serbinski Partners, Chartered Accountants

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Topic: Tax and Financial

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Posted by Jay on August 24, 2004 at 11:51:12:

In Reply to: Re: WEP on US SS for working 5-6 years posted by Nelson on August 24, 2004 at 11:41:57:

Can someone please give me a ballpark US SS benefit derived from max contributions of 5-6 years of work in US. I have 20 years of max contribution to CPP. For this scenario is WEP likely to impact my US SS? Thanks.
Too complex for this level.

Just this, however: With five years work, you will onlt get 25% of what you would have been entitled to had you qualified outright.

And WEP will apply.

But, really, what possible difference could it make?

Either you will work in US or you won't. How could CPP/SS/WEP even enter into the picture?

What is meant by "qualified outright". What that 25% ballpark be. I need to find when I can afford to stop working and have enough CPP/SS to retire. I learn WEP takes back something, but don't know if it will apply for me.

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