Social security was developed by governments to assist a section of its citizens struggling with finances more so those with inadequate or no income to get financial assistance.
Social security mainly targets children, the elderly, the sick and the unemployed who are struggling in meeting their daily needs by offering assistance. The assistance is meant to enable them to access food and shelter and to promote health and well-being more so to potentially vulnerable segments such as children, the elderly, the sick and the unemployed.
For better understanding of social security, it is essential to know the contingencies covered by social security which include responsibility for the maintenance of children, suspension of earnings due to pregnancy and confinement and their consequences. Clients can also enjoy the following areas covered by social security these include suspension of earnings due to an inability to obtain suitable employment for protected persons who are capable of, and available for work, suspension of earnings due to an incapacity for work resulting from a morbid condition, permanent or persistent inability to engage in any gainful activity, treatment of any morbid condition including pregnancy, as well as loss of support suffered by a widowed individual or child as the result of the death of the provider.
The four main categories of social security benefits include retirement, disability, dependents, and survivors benefits.
It is vital for people to enroll to retirement benefits program under social security if they want to get assistance once they retire from work. Employees of covered employment who serve the companies for sufficient number of years and who retired at the age of sixty-two are eligible for retirement benefits. Besides, a candidate may start getting retirement benefits at any time after they have reached age sixty-two. Due to financial needs, a beneficiary may want to start getting retirement benefits even before they reach the full retirement age, in such a case, the benefits will be reduced by a certain amount.
Social security also covers the disabled people in a country. However, the disability benefits is for people who have met the work requirements and are considered disabled under the Social Security program’s medical guidelines.
Social security also offer dependents benefits for people who have registered to the program. When one is a spouse of a retired or disabled worker who qualifies for Social Security retirement or disability benefits, they are entitled to dependent benefits. In addition, the benefits are not only entitled to people who are spouses of retired or disabled workers but also their minor and their disabled children.
People who are spouses of workers who qualified for Social Security retirement or disability benefits,then they are entitled to survivors benefits including their children. It is worth noting that when your qualification for survivors benefits program is also based on your deceased spouse’s earnings record.