What is the Social Security Plan?
Social Security Plan is the type of social insurance program that protects an individual from a specific social condition, such as age, disability, poverty or unemployment. These plans are often sponsored by the government, usually defined by status and financed through taxes. Therefore, the program cannot be changed if the law changes and the government must treat all recipients as well. By providing a minimum level of services, the program protects all citizens and helps ensure better quality of life. Although citizens are eligible to participate in the Social Security Plan, many countries also provide further assistance to their more vulnerable recipients.
Most countries require compulsory participation in any social security plans. However, if participation is voluntary, the cost of the program is usually low to ensure universal involvement. Regardless of age, income or any other social factor, if the country offers social security plan, all its citizens are automatically entitled toprotection provided.
designed to reduce poverty and other social disabilities, the social security plan is generally based on the belief that all people should be protected from certain risks. In most social security plans, five common programs are usually included. Created to protect the rights of workers and support of employment are labor market programs most common. Social insurance programs help reduce the risk of unemployment, disabilities, age and other social conditions.
Social security programs provide assistance to those who have little or no support - such as free mothers and homeless individuals. Child protection services can also be outlined in the social security plan to help healthy and productive children. Finally, the social security plans of many countries use programs based on areas to solve community problems.
Although less common, some social security plans include a revenue maintenance program that provides cash to citizens who become unemployed or retirement. Depending on the country, other items that are considered basic needs can be provided to citizens. These basic securities may include shelter, food, clothing and education.
Approximately 170 countries use some kind of social security plan. For example, the United States provides their citizens and disabled health insurance companies. Similarly, in the UK, citizens are automatically enrolled in national insurance programs to protect against disease and unemployment. Meanwhile, Canada and Australia offer national retirement plans to support retirement workers.