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 is also critical in promoting the welfare of the less privileged in the society through assistance to enable the victims get access to basic needs. The organizations provide assistance in form of shelter and food as well as promoting their health and well-being more so to segment of the society such as children, the elderly, the sick and the unemployed.
The main contingencies protected in social security include responsibility for the maintenance of children, suspension of earnings due to pregnancy and confinement and their consequences. The other main areas also 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.
For one to receive social security benefits, they must enroll to one of the following basic categories based upon the record of their earnings, these 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. As soon as one attains the age of sixty two and they are members of social security for retirement benefits, they can be assured of getting assistance. In the event that you want to start claiming the benefits before you reach the full retirement age, your benefits will be reduced by a particular percentage.
In addition, citizens of a country are guaranteed of getting disability benefits. It is worth noting that disability benefits is for those who met the work requirements and are considered disabled under the Social Security program’s medical guideline.
Social security also offer dependents benefits for people who have registered to the program. Dependents benefits are entitled to people who are spouses of a retired or disabled worker who qualifies for Social Security retirement or disability 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.
Citizens of a country who are spouses of workers who qualified for Social Security retirement or disability benefits are the best candidates for survivors benefits program as well as their children. The beneficiaries of the program qualify for the benefits based on their deceased spouse’s earnings record.