A mandatory savings plan is a government-mandated system often seen as a state-funded pension or Social Security scheme.
These programs require individuals and their employers to contribute a portion of income, often through payroll deductions, to ensure long-term financial security, particularly for retirement.
How to Report a State Pension on MyExpatTaxes
- Go to the Foreign and Other Income section in MyExpatTaxes.
- Select “Foreign Pensions (Contributions/Distributions) and Social Security”.
- Once the “Pension and Social Security” section appears, select “Social Security Funded by the Local Government” as the type of pension and enter the remaining details.
- Save and continue with the rest of your filing.
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