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Social Security For specific national programs, see Social Security (United States), National insurance (UK), Social Security (Sweden)
Social security mainly refers to a field of social welfare concerned with social protection, or protection against socially recognized needs, including poverty, old age, disability, unemployment, families with children and others.
Social Security Number (United States) In the United States, a Social Security number (SSN) is a number issued to citizens, permanent residents, and temporary (working) residents. It is issued to an individual by the Social Security Administration of the government of the United States. Ostensibly, its primary purpose is tracking working individuals for taxation purposes and to track Social Security benefits. However, in recent years, the SSN has become a de facto national identification number.
History:
Social Security (United States) Social Security in the United States is a social insurance program funded through a dedicated payroll tax. It is also known as the Old Age, Survivors and Disability Insurance program (OASDI), in reference to its three components. In the calendar year 2004, it paid out almost $500 billion in benefits. (http://www.ssa.gov/OACT/STATS/t4a3Outgo.html)
Social Security Trust Fund The Social Security Trust Fund is the United States federal government's means of accounting for workers' paid-in contributions to the Social Security system that are in excess of current payments to beneficiaries. This excess, the amount not yet needed for Social Security purposes, is invested in securities issued by the government, and those securities constitute the assets of the Trust Fund.
Social Security Administration The United States Social Security Administration (SSA) manages the United States' social insurance program, consisting of retirement, disability, and survivors' benefits. To qualify for these benefits, most American workers pay Social Security taxes on their earnings; future benefits are based on the employees' contributions.
The legal authority for the SSA is Title 42 of the United States Code.
The SSA is headquartered in Woodlawn, Maryland, a suburb of Baltimore.
Department Of Health And Social Security The Department of Health and Social Security was a ministry of the British Government for 20 years from 1968 until 1988, headed by the Secretary of State for Social Services.
Previously, the social security responsibilities had been held by the Ministry of Pensions and National Insurance, and the health responsibilities by the Ministry of Health.
Social Security Act Of 1965 The Social Security Act of 1965 established Medicare and Medicaid. It did so by 'liberating' the Social Security Trust Fund, changing its funding from a forced savings type of an account into a 'pay as you go' type of fund. This system has caused concerns about its long-term stability.
Department Of Social Security The Department of Social Security (DSS) was until 2001 a department of the Government of the United Kingdom. Most of the functions of the DSS are now carried out at the Department for Work and Pensions.
References:
* Newcastle City Council bulletin:
Social Security (Sweden) Sweden's long-successful economic formula of a capitalist system interlarded with substantial welfare elements was challenged in the 1990s by high unemployment and in 2000-02 by the global economic downturn, but fiscal discipline over the past several years has allowed the country to weather economic vagaries.
Government pension system: Between 1998 and 2001 the system was converted from a 100% PAYGO system to a system where some money is saved and invested.