Senior Citizens in India:
The Ministry of Social Justice and Empowerment stated that India had 103.8 million senior citizens in 2011. This count is likely to rise by 143 million & 173 million senior citizens till 2021 and 2026. The people over 60 years of age, who are called senior citizens in India, would contribute 25 percent to its total population by 2050.
It’s going to be a big challenge for NRIs to prevent them from depression and crime. They would be more vulnerable to these life-threatening causes.
However, it’s not a walkover to combat this challenge. But, the USA government’s Social Security emerges like a silver lining. It helps the NRI to take care of their parents.
You might be thinking how the USA’s Social Security will take care of NRI parents. It sounds a little bit awkward, but it’s true. Let’s have a look over what it is.
What is the Social Security?
It’s a mandatory insurance policy for the old (retired)/disable and surviving people in the USA. According to the Federal Insurance Contributions Act (FICA), the US government derives money from the payroll taxes and self-employment taxes to fund this system.
Every integrated person with this system carries a unique Social Security Number. This number is a key to track record of every beneficiary. American natives hold right to access every bit of information regarding their social security account. The local social security administration office is a competent authority to look into the related matters.
Can Indian Dependent Apply?
Say- you’re 60+ and you want to get benefits of this policy. You won’t get the benefit unless you enrol in this policy. You have to apply, first. If you’re 63 or 63+, your benefits would be more than the one who is 62 years old.
Now, the question arises- are NRI parents eligible to get this benefit?
Answer-Yes, you can be provided that you have earned at least 40 credits under this scheme, or, you have been in the USA for 10 years.
The NRI kids are also covered under this security scheme. If the NRI parents had served at least 5 years, their children can enrol for this security.
Now, you must be thinking about how much money they get.
It purely depends on how much money that the beneficiary has contributed during his tenure as a working person in his life. If it’s more, the size of Social Security would also be more.
What you need to provide to the social security authority?
If you want to enrol your parents under this security, you should submit these details:
- Address/Change of Address to notify the authority that the beneficiary lives there with family.
- Did business or worked outside-this information is required from the one of 67 years or more who runs business or who has been working outside the USA.
- If an NRI child or the native child runs the business, the Social Security authority requires its information. The child’s age won’t be considered then.
- If you receive disability benefits and later, recover up & re-join the work, you need to inform the authority.
- If you’re married or get divorced, the security amount will be computed accordingly. Notify.
- If the beneficiary dies, notify the authority. It will cease the payment and reimburse it of the same month.
- In case, you can’t manage the security amount, you can appoint any representative.
- You need to inform the authority that you’ve started receiving pension from work or disability pension that is not covered.
- Remember that if the beneficiary worked outside, he/she must undergo the foreign work test or annual retirement test. You can get a sneak peek into these tests below.
- If you fail to notify the authority, it will automatically freeze your account.
Method of payment:
The beneficiaries receive monthly payment through:
- Cheque
- Direct bank deposit
- Direct Express Debit Card
- Annual amount with tax figures.
Foreign work test: The authority throws a test for the applicants who are below 67 and working outside the USA. It accounts for providing dollars for just 45 hours for such apprentices.
Annual retirement test:
This test is for those who are under 67 years and serving outside the country. It evaluates whether or not your income exceeds the annual exempt dollars. If your exempt dollars are 45, 360 in 2018, you’ll be eligible to get it.
Disability perks:
If your disability persists, the security benefits will be all yours. But if you recover and join the work again, the authority will pay for 9 months as a trial work period. Later on, it will add the sum for three more months if you continue the work.
