Social Security
Social Security
Social security is principally a social interest service which deals with the communal security against unforeseen catastrophes or protection of the society against communally accepted conditions such as disability, poverty, unemployment, old age and others.
Social Security is one of the most successful and important programs that has been initiated in United States. It currently refers to the Old Age, Survivors and Disability Insurance (OASDI) program. Social Security is often considered a retirement plan but about one-third of the people who receive benefits from it are non retirees. Social security program is a social program and its benefits are different from Individual Retirement Accounts, pension plans provided by the employer, or other savings plans. The Social Security System was created in order to provide three distinctive types of benefits to workers and their families. The disability insurance for workers and their spouses and their children, the lifetime retirement benefits to all those workers who have served for at least ten years along with their spouse and their children and survivors insurance for the families of the deceased workers. Workers come under the protection of social security only after having been employed for a minimum period of time and after they had been involved with it thoroughly and made contributions to it.
Many people have benefited from the Social Security. The Government has looked after the families of the workers who come under the plan and provided them with all the necessary requirements. Though a lot has been said about this program, the social security system is just the right step for the welfare of the people.
