Nikki is an 18-year-old high school senior. If she works from the time she finishes her education, she must be 67 before she is entitled to her full social security payment.
Benefits from Social Security are payments paid to eligible retirees, persons with disabilities, as well as their spouses, kids, and survivors. The Old-Age, Survivors, and Disability Insurance (OASDI) program, also known as Social Security in the United States.
It is a comprehensive federal benefits program created to replace a portion of the income lost by retired adults and their spouses, people who have lost a qualifying spouse or ex-spouse, and people with disabilities. It additionally helps the beneficiaries' children when certain conditions are met.
For eligible retired adults and those with disabilities, as well as for their spouses, children, and survivors, Social Security benefits offer a portion of a replacement income.
The amount of a person's benefit depends on their past wages, the year of their birth, and the age at which they first file a Social Security claim.
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