China Romance
General Discussion and Useful Links => Ask An Experienced Member => Topic started by: fivetrout on July 23, 2012, 07:12:26 pm
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Hi folks! I'm new here! My girl in china will be eligible in 2014 for her pension at 50 years age I guess? From what I gather, if we marry in China...she loses it for marrying a foreigner that's taking her away? If she marries in the states the Chinese govt not any wiser and she continues to receive it. I know it's not much but she has earned it and is somewhat uncomfortable about losing it. If we do marry in the states, would it be unethical to continue to receive it? My thought...is maybe finding a way to send it to her parents? Any thoughts or idea's are needed!
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Is it a private or government pension? The reason I ask is that one month ago the law was changed to raise the retirement age for women from 50 to 55. At least that is what the local news said. I believe this to be true but you should verify it for yourself.
The part about loosing it because she married a foreigner I have never heard before. Could be true I just don't know. My wife says if she continues to pay into the fund she can collect no matter where or who she married. I would dig a little deeper if I were you. she may be listening to some local women who think they know everything about nothing.
There is also an option to buy back (make all the payments you missed) if later you decide to continue in the China pension plan. But the way they just change the laws on a whim, lord knows what the pension will be worth in another 5 years.
My wife is in the same predicament. But it didn't take a lot to figure out. She is only 43 and more than 10 years away from retirement here in China. She has opted to just let it go and start over in the USA. With any luck I will survive until our 10 year anniversary and she will be entitled to widows benefits based on my social security. ( but she will need to wait until age 59.5)
Also, after if she pays social security taxes for 10 years she can collect her own benefits. But who knows what the USA social security plan will look like in another 15-20 years.
This is one of her biggest worries. Broke and homeless in a foreign land. She shouldn't have to worry so much. So here is my plan.
PAY OFF ALL MY MORTGAGE.
SOCK AWAY ENOUGH MONEY TO LAST HER UNTIL SHE CAN COLLECT HER OWN BENEFITS.
TRY TO SET UP ANOTHER BUSINESS THAT WILL KEEP HER AFLOAT AFTER I AM GONE.
GET A REALLY BIG LIFE INSURANCE POLICY.
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one month ago the law was changed to raise the retirement age for women from 50 to 55. At least that is what the local news said.
now I know why mama decided she needed to open a new business... oh, that demolition order on her clinic, her clinic is now her new beauty shop (facial treatments). apparently the developer abandoned the project, because they couldn't afford to pay off the whole block... now if mama would just get some customers :-[
Lloyd
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Like Pineau, Qing also has a Pension coming.. but decided to also let it go. The thing she's hanging on, is the two Apartments and for that reason.. she will not become a American Citizen in the future.She would loose out, like .. one of them is to be taken down to make room for the new. She has a choice, take the Buy-out or wait for a new apartment to be build in her name. As a U.S Citizen, she would loose it. As far as the Gov. knows, she's still lives in Shanghai with a Shanghai ID and Chinese Passport. No worry there.
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I bought my wife a private pension and I contribute to it every12 months. She will still get 'small state pension as we intend to live in China for all time.
The Chinese pension stops when she leaves China and takes up permanent residency in another country.
Also after a chat with the UK Goverments Pension Service, we will be entitled to the larger married persons pension as soon as she reaches the UK pension age. This is based on the contributions I have paid over the years.
Willy
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Hey Willy , I just thunk of sumting , when one gets a married pension the total amount goes down for stupid reasons , therefore should not the 2 ages be combined and divided by 2 for the pension age , ha ha that would confuse them , regards Sujuan and Robert .
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The reason a lot of oldies do not tie the knot is because they then get two single pensions. But then as a single Youyuan would not be entitled to any person at all.
They reckon that a lot of things like housing etc does not cost twice as much for a couple as a single person.
If I pop my clogs she will be entitled to a UK widows pension.
Willy