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Stephanie O Joy, Esq
Stephanie O Joy, Esq, Soc. Sec. Attorney
Category: Social Security
Satisfied Customers: 13549
Experience:  22+ years legal exp. - 12+ years owning/operating her own SSD Law practice.
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I've heard about piggybacking the Canadian pension plan.

Customer Question

I've heard about piggybacking the Canadian pension plan. What is it?
Submitted: 1 year ago.
Category: Social Security
Expert:  Stephanie O Joy, Esq replied 1 year ago.

Good afternoon, with regard to your post:

"I have just been told that spousal SS benefits are going to be discontinued. Is this true? -------- No.

"I was divorced in 2012, my ex-husband will turn 62 in September, I am 66. I need his payments at that time. I was not planning on taking mine until I am 70. Please advise. Thanks. ------- OK, the ability to take a restricted spousal benefit while allowing your OWN to grow, is ending, yes. Rather, if you apply for either benefit, you will automatically be deemed to have applied for the larger, and get it. However, this ONLY effects those who have NOT turned 62 by end of 2015, which you have. As such, you are grandfathered. You are able to file for divorced spousal benefit in September, keep it til age 70, and switch to your own at 70. Be very sure to make it clear to SSA when you apply, that you are ONLY applying for spousal. Presumably, you would quickly know the difference, upon first payment, since spousal will only be 1/2 of his and your benefit would likely be far greater. But do make sure the clerk who filed it did not mess it up (it has happened).

Expert:  Stephanie O Joy, Esq replied 1 year ago.

I hope this helps! My goal is to provide you with excellent and accurate service – if you feel you have gotten anything less, please reply back, I am happy to address follow-up questions.

Kindly rate me "excellent" when you are done. I look forward to assisting you in the future, should you have legal questions. Be sure to start future posts with "To ***** Esq., ONLY" if you want me to specifically answer it.

Sincerely, ***** ***** Joy, Esq.

Your online SS legal resource!

Expert:  Stephanie O Joy, Esq replied 1 year ago.

My apologies, this post went to the wrong thread, it seems. Just ignore please.

Expert:  Stephanie O Joy, Esq replied 1 year ago.

OK, NOW, I can definitely tell you about this scheme put out there by Zachary.

It is not exactly 'piggy backing' anything or giving away free loophole Canadian Pension benefits to Americans. Rather, you buy stock or other investments that the Investment team of the Canadian pension team also buy to sustain that Fund. Dividends are paid out like they are on any dividend paying stock, and some of them are monthly dividends - ergo the monthly "benefits" check. Some are quarterly or annually. But the point remains that you have to buy a LOT of stock to get $1000 in dividends each month, obviously. And there are risks like any stock market endeavor.

You can read more here (it is a little lengthy, but the author does eventually get to the point in the second half):

http://www.stockgumshoe.com/reviews/lifetime-income-report/are-americans-really-legally-piggybacking-canadian-social-security/

Expert:  Stephanie O Joy, Esq replied 1 year ago.

I hope this helps! My goal is toprovide you with excellent and accurateservice – if you feel you have gotten anything less, please reply back, Iam happy to address follow-up questions.

Kindly rate me "excellent"when you are done. I look forward to assisting you in the future, shouldyou have legal questions. Be sure tostart future posts with "To ***** Esq., ONLY" ifyou want me to specifically answer it.

Sincerely, ***** ***** Joy, Esq.

Your online SS legal resource!