President Biden has signed off on the Social Security Fairness Act, which eliminates WEP and GPO. Eliminating WEP may mean hundreds of extra dollars per month in Social Security benefits for families that have lived and worked in the U.S. and Canada. In this video:
– Update you on the new law
– How it impacts both past and present payments
– Lump-sum payments for people impacted by WEP in 2024
– The timing of the changes
– What you need to do next
Watch the Video Here:
Need More Help?
Are you interested in working with a financial planner who specializes in cross-border financial planning? Schedule a complimentary meeting below, and let’s simplify your cross-border financial plan.
I am 65 years old and started claiming CPP at age 60 because of the WEP rule. Looking forward to an extra $300 per month when I start claiming social security in 5 years. My wife started her CPP pension October 2024 at age 60 but today I mailed a letter to CPP to stop her payment until she reaches 70.