Why social security is essential

Why social security is essential

Imagine the situation when you work hard all of your life, you pay money to your retirement special account. And when you finally retire, you cannot take this money because of some mistake in the government system. A very unpleasant situation, right? No one wants to experience such a situation. Joan Entmacher from the National Women’s Law Center resource in his article discovers the topic of why it is so important to have a social security.

The Importance of Social Security

Today I testified before the Senate Special Committee on Aging about Social Security. It was a welcome change from the past few years, when I testified at hearings that focused on plans to privatize Social Security and cut benefits. Today, I had an opportunity to discuss ways to strengthen and improve Social Security — the foundation of older women’s economic security, and the effective way to increase retirement security for all Americans facing an environment of heightened economic risk.

It won’t take an extreme makeover to improve Social Security for women and economically vulnerable Americans. I presented some proposals, such as improving widow(er)s’ benefits and benefits for low lifetime earners and caregivers and modernizing Supplemental Security Income. I emphasized that these changes are especially critical for women, who face a higher threat of poverty in old age than men. The full article is here…

Many people face different problems that are connected with social security every day. Nowadays it is essential to be knowledgeable in the sphere of social security. Mary Forsberg in her article, that is dedicated to the importance of the social security, highlights the most important issues about this topic.

The importance of Social Security

Social Security is an American mainstay, as much a part of our culture as baseball, hot dogs and apple pie. Established in 1935, it now provides benefits to over 50 million people, about one in every six U. S. citizens. While three-quarters of those receiving benefits are retirees or elderly widow(er)s, 19 percent receive disability insurance payments and 4 percent receive benefits as minor children of parents who have died.

Social Security provides a guaranteed, progressive benefit that keeps with increases in the cost of living. By dollars paid, the U. S. Social Security program is said to be the largest government program in the world. It provides a foundation of retirement protection for nearly every American and its benefits are not means-tested. The near universal participation and the absence of means-testing make Social Security much less expensive (its administrative costs amount to just 0.9 percent of annual benefits) to administer than private retirement annuities. The full article is here…

In the next video, an expert in the sphere of social security gives the recommendations which mistakes can ruin your social security claim.

It is very important to be aware of all the latest news in the sphere of social security law. Apply for the help of professionals and you will succeed with your possible lawsuit issues.

Hope the provided materials were helpful for you, and now you have all the information you need.

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