Question

What act provided monthly pensions for retired people?

Answer 1

The answer would be (D) the Social Security Act

Answer 2

The correct answer is D) the Social Security Act.

The act that provided monthly pensions for retired people was the Social Security Act.

One of the most important parts of the New deal program instituted by President Franklin D. Roosevelt was the Social Security Act. He signed it into law in 1935. It was a federal safety provision for the elderly in America. The economic conditions of the time were very hard due to the consequences of the US stock market crash of October 1929 that generated the Great Depression. That is why Roosevelt implemented many New Deal programs. One of them, the Social Security Act paid pensions to retirees older than 65 years, based on payroll tax contribution.