What Ramifications re: Qualified Pension and Social Security??

Discussion in 'UPS Retirement Topics' started by twoweeled, Sep 13, 2016.

  1. twoweeled

    twoweeled Well-Known Member

    I've heard about this, but what I've heard has been vague. On Pension now. Will be taking Social Security soon. What and why, happens to our pension? I've heard SS gets reduced because of our qualified pension. I've heard it's our pension that gets reduced, not the Social Security. Today I hear, both pension and social security get reduced?
    I don't understand why either "should" get reduced, but it sounds like it's going to happen. I would assume it depends on how much the pension is? Short story - I haven't a clue of the facts regarding this. Any and all information is welcomed!!
  2. cosmo1

    cosmo1 Now, a low life jack wagon, and still loving it.

    Neither are affected by the other.
  3. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    There have been several threads here about this pension offset.
  4. cosmo1

    cosmo1 Now, a low life jack wagon, and still loving it.

    No problem here.
  5. retiredTxfeeder

    retiredTxfeeder cap'n crunch

    I agree with Cosmo1. I'm drawing SSI disability and my pension with no problems.
  6. sox

    sox Member

    I believe in New England if you wait until 62 or 63 you get an extra thousand a month until you hit full retirement age for ss then lose it when you start collecting SS
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  7. Mindless wonder

    Mindless wonder New Member

    Retired in 2012(CS)started collecting Ss . Everything at full pay. Nothing reduced..
  8. 25TOLIFE

    25TOLIFE Member

    Ssdi and pension. They have nothing to do with each other. I'm not sure about other locals but once you get part b from medicare you lose the union medical.
  9. twoweeled

    twoweeled Well-Known Member

    Strangest thing. I recall years back, we had a representative from the Pension Dept visit the local. He told us in a meeting, there would be a reduction. I can't recall for certain which it was. The pension or SS. I even asked him, why? He didn't have an answer, strange as it sounds. I have spoken to friends (not involved in our Union) who felt it wouldn't be a big surprise if SS reduced the award if I had a qualified pension. But they of course were not certain either. I spoke to two people who quickly confirmed, they had experienced a reduction, but could not get details. I hear SS may get reduced, if they deduct your medicare - that makes sense to me. But I hears two totally different stories on this. I see no reason for either, our pension or SS to be reduced, but stranger things have happened.
  10. retiredTxfeeder

    retiredTxfeeder cap'n crunch

    My ssdi check actually increased last year. This year, it did not get a raise. The amount deducted from the check for medicare increased this year as well.
  11. Gumby

    Gumby *

    Your pension can make part of your social security taxable, so basically it's a reduction.
  12. twoweeled

    twoweeled Well-Known Member

    I hope that's all it is. I'm good with that.