Government-administered insurance designed to ensure social adequacy, where the recipients of the benefits generally contribute to a portion or all of the costs of a program
= Compulsory insurance legislated to provide minimum economic security for large groups of people, particularly those with low incomes It is primarily concerned with the costs and loss of income resulting from sickness, accidental injury, old age, unemployment, and the premature death of the head of a family See also Legislated Coverages and Social Security
government provision for unemployed or injured or aged; financed by contributions from employers and employees as well as by government revenue
insurance provided by the government to individuals, for instance, against disabilities, unemployment, or health problems (for the aged)
Government cash benefit programs that protect against loss of income due to certain "social risks" such as old age, death of a breadwinner, unemployment, disability, (and in other countries sickness, maternity, divorce) (OASI is the major U S social insurance program ) The main component (in most countries) of "social security" are old age and retirement pensions, health insurance, unemployment insurance, disability insurance, sickness benefits Benefits depend on previous employment history and are independent of a claimant's personal or family income Benefits are financed from contributions which may be levied on any combination of workers, employers and the state
Compulsory insurance legislated to provide minimum economic security for large groups of people, particularly those with low incomes It is primarily concerned with the costs and loss of income resulting from sickness, accidental injury, old age, unemployment, and the premature death of the head of a family See also Legislated Coverages and Social Security (G)
An insurance program carried out or mandated by a government to provide economic assistance to the unemployed, the elderly, or the disabled. Compulsory public-insurance program that protects against various economic risks (e.g., loss of income due to sickness, old age, or unemployment). Social insurance is considered one type of social security, though the two terms are sometimes used interchangeably. The first compulsory national social-insurance programs were established in Germany under Otto von Bismarck: health insurance in 1883, workers' compensation in 1884, and old-age and disability pensions in 1889. Austria and Hungary soon followed Germany's example. After 1920, social insurance was rapidly adopted throughout Europe and the Western Hemisphere. The U.S. lagged behind until the passage of the Social Security Act in 1935. Social Security in the U.S. now provides retirement benefits, health care for persons over a specific minimum age, and disability insurance. Social-insurance contributions are normally compulsory and may be made by the insured person's employer and the state as well as by the individual. Social insurance is usually self-financing, with contributions being placed in specific funds for that purpose. See also unemployment insurance; welfare
Compulsory plan under which participants are entitled to certain benefits as a matter of right The plan is administered by a state or federal government agency aimed at providing a minimum standard of living for lower and middle wage groups Social Security, unemployment compensation, etc , are social insurance programs
Government insurance programs with certain characteristics that distinguish them from other government insurance programs Programs are generally compulsory; specific earmarked taxes fund the programs; benefits are heavily weighted in favor of low-income groups; and programs are designed to achieve certain social goals
A nine-digit number issued by the government of Canada to citizens, permanent residents, and some categories of temporary residents, for official identification in the provision of government services and income taxation. Abbreviation: SIN