social security benefits(redirected from Social Security Benefit)
Social Security benefits
Social Security Benefits
social security benefitsbenefits provided by the government as a means of assisting low-income members of society such as the unemployed (the JOBSEEKERS ALLOWANCE), the retired (basic old age PENSIONS), the sick (sick pay and free medical treatment), the disabled, single-parent families etc. See DEPARTMENT OF WORK AND PENSIONS.
social security benefitsany benefits provided, on social grounds, to low-income members of society, such as the unemployed, retired persons, the disabled, single-parent families, etc. Social security benefits can take the form of money payments (for example, the JOBSEEKERS ALLOWANCE, pensions, etc.) or payments in kind (for example, clothing coupons, food stamps, etc.). Some countries apply a MEANS TEST to determine eligibility for benefits. In the UK social security benefits are paid by the DEPARTMENT FOR WORK AND PENSIONS.
In certain cases, where the scale of benefit used to determine benefit entitlement overlaps with the PROGRESSIVE TAXATION system, this can create disincentive to seek employment (see UNEMPLOYMENT). See POVERTY TRAP, NEGATIVE INCOME TAX, SUPPLY-SIDE ECONOMICS.