Larry:
I just turned 65 and was informed by the CNAP Luxembourg that I am eligible for a Luxembourg pension (filed last month seeking reimbursement funds). I am also eligible for the US Social Security program (plans were to file at 66.5 years of age). Does receiving a Luxembourg pension have any affect on my Social Security qualifications and/or the currently listed monthly distribution)?
Thank you

Regards,
Tim

Hi Tim. Yes, if your pension from Luxembourg is based on your earnings, then your Social Security retirement benefit rate could be lowered due to the Windfall Elimination Provision (WEP) (https://www.ssa.gov/pubs/EN-05-10045.pdf). How much if any reduction may apply in your case depends on a number of different variables, though.

Our software (https://maximizemysocialsecurity.com/purchase) is programmed to handle WEP calculations, so it sounds like you should strongly consider using the software to determine what effect that your pension from Luxembourg might have on your benefit rate, and to fully analyze all of your filing options so that you can determine your best strategy for maximizing your benefits.

Best, Jerry