Every government provides financial assistance to the people with no or inadequate income, such assistance is referred to as social security.
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.
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 contingencies 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.
It is vital for people to choose the categories of social security benefits that will enable them to enjoy the associated benefits based upon their records of earning, these include retirement, disability, dependents, and survivors benefits.
The primary step to getting retirement benefits involves registering to the social security board of your country under the retirement section. It is worth noting that if you want to be a beneficiary of retirement benefits, you must be under covered employment for a period of time and retired at the age of sixty-two. The moment you reach the age of sixty two and have enrolled to retirement benefits program, you can be assured of getting the benefits. 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.
In addition, people can also get dependents benefits under social security. 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. The good thing about dependent benefits is that it is also entitled to minor or disabled children.
In the event that you are the surviving spouse of a worker who qualified for Social Security retirement or disability benefits, you and your minor or disabled children may be entitled to benefits. It is worth noting that when your qualification for survivors benefits program is also based on your deceased spouse’s earnings record.