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A general term used to refer to the programs mandated in the United States by the Social Security Act of. With the amendments made to the act since then, it now consists of benefits for old age, survivors, and disability. Through social security, programs that provide assistance to certain segments of the public are administrated, such as public assistance.
Its all about economic assistance. Social security describes a program that uses public funds to provide a degree of economic security for the public.A government program aimed at providing basic needs to citizens who are retired, unemployed, or unemployable.
It is a social insurance system to protect individuals socially, economically, and be deduct a small percentage of his monthly salary and the institution to which he belongs contribution to pay him a certain percentage
And it is getting the money they have in common name at a certain age and so-called legal retirement age
Social security is the security provided by the society to the needy person in contingencies.
Social security is broadly divided into two types,1) Social Assistance2) Social Insurance
Social Assistance is the social security provided voluntary by the society or NGO or Government or philanthropic societies to the needy person where there is any contingency without any contribution from the beneficiary. Beneficiary can't claim this assistance as a Right. It is a gratuitous act only. Ex: Workmen or Employee compensation where are any contingency happened in a work environment as per WC Act.
Social Insurance is the social security provided upon contingency purely based on the contribution made by the beneficiary. Beneficiary can claim as a Right and can enforce through court of law unlike social assistance. Example: ESI, EPF, etc.
In basic term, Social Security would mean striking a balance between being commercial and being social.Social Security would mean conducting activities which can help towards upliftment of society.
Its all about economic assistance. Social security describes a program that uses public funds to provide a degree of economic security for the public.A government program aimed at providing basic needs to citizens who are retired, unemployed, or unemployable. most probably it's performed by deducting a small amount of the employee's salary during his service to compensated after retirement.
Faith in God Then the insurer President
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