I would like to obtain more information about USA Social Security pensions for expats living in Germany
More specifically, the rules and regulations on retiring in Germany with 2 pensions: USA Social Security pension and German Rente (pension). My situation is that I will retire at age 62 with a USA S.S. pension after having working 22 years with a German company here in Germany. My health insurance is public (statutory). I will receive a German pension at age 67. The Deutsche Rent has sent me information but there is very little info. available about how the 2 pensions will be regulated. I am aware of how the taxes work, Totalization Agreements, so I do not need more info. on that topic. I've asked the USA SSA - Social Security Administration - for more information, but they only refer me to their website links in emails. Firsthand experience from U.S. retirees in Germany would be very welcome! (Searching online? I have searched everywhere and come up with very little)
Does anyone have specific experience or specific knowledge concerning:
1. USA S.S. WEP - Windfall Elimination Provision: if one collects a USA S.S. pension and a foreign pension, the USA S.S. may be reduced by up to 40%.
2. Working during retirement: in the U.S. there is a maximum income limit imposed by the SSA "How We Deduct Earnings From Benefits. In 2021, if you're under full retirement age, the annual earnings limit is $18,960. If you will reach full retirement age in 2021, the limit on your earnings for the months before full retirement age is $50,520."
What are the limits if one is a resident in a foreign country, like Germany? (Someone indicated that the income thresholds above do not apply, but that Americans are limited by work hours/month - something like 45hours/month?)
3. Health Insurance: if a person retires early with USA S.S. pension - before age 67 - how is their German health insurance
affected? If the person is obligated to pay on their own, would they re-enter the public health system at age 67, when they collect their German pension?
Thanks very much!