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In the States you're required to work 40 quarters(ten years) to qualify for what's called social security. You may start claiming / receiving payments at 62, but it's a sliding scale, the monthly cheque increases significantly if one delays taking the benefit, maxing out at 70yrs. Basically, if you're in good health and come from a family of long livers, wait 'till you're 70.
Some years ago I became aware of 'top up's'. At the time I was guided through the system by a very nice Newcastle fan, and while the cheque I start receiving(soon), is not large, it is one of a number of incomes I'm able to tap into if necessary. Unfortunately for the two lads in question, I cannot recall the procedure, really because I did little but answers questions and the Geordie did all the work. I did know that they won't get the full benefit, but that's understandable.
I have a couple of ex Londoners work with me and they've recently brought up the tax top up payments on offer by the HMRC, basically, is it worth it? On paper it looks a pretty good deal, but it appears debatable that the system will honour, or at least be poor in making these payments. I've recommended they pursue any claims, recently I worked my way through the website and I thought it was a worthwhile additional income for your senior years. The two guys in question are 64 and 53, so one nearing the finish line! Their contribution years are 17 and 12 respectively, from what I can ascertain, it's worth the gamble to pay the deficit. Any tax people onboard?
If you're heading south to north in NZ, drive up through Whangarei (one of my brothers lives close by), keep on until you hit the Bay of Islands, very scenic. On the way(forgotten the name), is the place where the treaty was signed that formed the country.
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