social security benefits

Social Security benefits

Monthly government payments to retired workers or their families who have paid Social Security taxes for a total of 40 quarters or 10 years.

Social Security Benefits

In the United States, a social program providing, among other things, disability insurance, the national pension, unemployment insurance, Temporary Assistance for Needy Families, and Supplemental Security Income. In common parlance, however, Social Security benefits refer to the monthly check received by pensioners starting generally after retirement. All U.S. citizens who have paid the Social Security tax for a certain number of years are eligible for Social Security benefits at age 65 (or 62 for reduced benefits). Widows (or widowers) are also eligible for benefits even if they were never employed, so long as their deceased spouses paid into the system.

social security benefits

benefits 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 benefits

any 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.

References in periodicals archive ?
Speaking to seniors gathered at the Johnston Senior Center, Senator Sheldon Whitehouse (D-RI) called on Congress to pass legislation that would protect the purchasing power of Social Security benefits. Whitehouse has introduced the Guaranteed 3% COLA For Seniors Act to guarantee every senior a reasonable Social Security cost-of-living adjustment (COLA) with an annual floor of no less than 3 percent.
You must have worked and paid Social Security taxes for a certain length of time to get Social Security benefits. The amount of time you need to work depends on your date of birth, but no one needs more than 10 years of work (40 credits).
Here's a quick overview of how Social Security benefits are determined and how much you might be able to expect.
When Congress made Social Security benefits taxable in 1983, lawmakers didn't index the tax thresholds to inflation.
Yet, deciding when to take Social Security benefits is something that many people struggle with.
Abdulaziz bin Habtoor on Wednesday discussed with UNICEF Resident Representative in Yemen, Marcelle Relano, arrangements for the disbursement of the third batch of social security benefits. There are 1.5 million beneficiary families from the disbursement of the third batch of social security benefits to be implemented through UNICEF with World Bank funding of $ 67 million.
1 for where residents can expect their Social Security benefits to go the farthest.On the heels of its ranking Hunterdon as the New Jersey county with the lowest credit card debt, SmartAsset has revealed it also ranks No.
Perrone provides some additional tips and strategies for getting the most out of your Social Security benefits:
The researchers assume that at retirement a worker buys an inflation-indexed joint survivor life annuity, in part because it harmonizes the benefits of private savings and Social Security benefits.
What receiving Social Security benefits means to HSA holders: Workers receiving Social Security benefits are automatically enrolled in Medicare Part A if they have contributed 40 quarters into Medicare.
Facts: On their 2014 income tax return, Charles and Nancy Robbins did not report receipt of any Social Security benefits. However, in 2014 Mr.
Abu Dhabi: Members of the Federal National Council on Tuesday passed a motion demanding full social security benefits to all people of determination (with special needs).

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