Retirement income for the elderly is one of the benefits provided by Social Security. Moreover, there are four basic categories of Social Security benefits paid according to the record of the earnings: retirement, dependents, disability, and survivors’ benefits.
EXPLANATION:
Retirement Benefits
Workers who have labored in "covered employment” for enough number of years are qualified to get retirement benefits when they give up work at age 62. This often means that you have to work a total of at least ten years working in a nongovernmental job.
Disability Benefits
If you have not reached retirement age but have met the employment requirements and are deemed disabled according to the medical guidelines of the Social Security program, you can obtain benefits that are approximately the same as your full retirement benefits later.
Dependents Benefits
If you are a spouse of a retiree or disabled worker who is eligible for Social Security retirement or disability benefits, you and your minor or disabled kids may be permitted to benefits based on the employee's income record. It is true whether you really rely on your spouse for your support.
Survivors Benefits
If you are a surviving spouse of an employee who is eligible for retirement benefits or Social Security disability, you and your minor or disabled kids may be allowed to benefits based on your deceased spouse's income record.
LEARN MORE:
If you’re interested in learning more about this topic, we recommend you to also take a look at the following questions:
• What is Social Security? brainly.com/question/1236351
• Social Security is an example of? brainly.com/question/5751463
KEYWORDS : social security, retirement, disability, dependents, survivors, benefits
Subject : Social Studies
Class : 10-12
Sub-Chapter : Social Security
