The United States and New Zealand have recently established a social security agreement that will make it easier for workers from both countries to receive retirement, disability, and survivor benefits. This agreement, signed in June 2018, allows individuals who have worked and paid into the social security systems of both countries to combine their credits in order to qualify for benefits.

For individuals who have split their careers between the United States and New Zealand, this agreement will provide greater financial security in retirement. In the past, these individuals may have faced difficulty qualifying for benefits in both countries due to the different eligibility requirements and contribution levels. However, with the new agreement in place, they can now combine their contributions and receive benefits from both countries.

In addition to providing greater financial security for individuals, this agreement also strengthens the economic ties between the United States and New Zealand. By making it easier for workers to move between the two countries, businesses will have access to a more mobile and flexible workforce. This can lead to increased trade and investment between the two countries, benefiting both economies.

One important thing for individuals to keep in mind is that they must apply for benefits in the country where they are currently residing. For example, if a United States citizen is living in New Zealand and wishes to receive US social security benefits, they must apply through the US Embassy in Wellington. Likewise, if a New Zealand citizen is living in the United States and wishes to receive New Zealand social security benefits, they must apply through the New Zealand embassy in Washington D.C.

Overall, the US-New Zealand social security agreement is a positive development for individuals and businesses alike. If you are someone who has worked in both countries, be sure to familiarize yourself with the details of this agreement and how it may affect your eligibility for social security benefits.