For Social Security we have terms and definitions in 4 topics. The topics are Aging, Law, Legal and Political.

Social Security (Aging)

Colloquially, refers to a general public pension to insure that individuals do not live in poverty. In some countries, such as the US it generally refers to a retirement pension that people are entitled to after a certain number of years of contrib ution, by themselves or their spouse, upon reaching a certain age.

Social Security (Law)

A system of federal old-age pensions for employed persons begun in 1935. A portion of the payment is deducted from the employee's salary and an equal portion is contributed by the employer.

Social Security (Legal)

A system of federal old-age pensions for employed persons begun in 1935. A portion of the payment is deducted from the employee's salary and an equal portion is contributed by the employer.

Social Security (Political)

The Social Security Act was passed in 1935; it established a national social security service, which included benefits for the elderly, unemployed, and also aid to the states for the care of the old, dependent children, and the blind. At first benefits were for private sector employees only, but in the 1950s Social Security was extended to self-employed, state and local employees, household and farm workers, and members of the armed forces and clergy. Disability insurance was added in 1954. In 1965 Medicare, which provided health insurance for those over 65, and Medicaid, which provided health care for the poor, were added. In 1972 a law was enacted that linked Social Security benefits to the rise in the cost of living. The result has been that over the last two decades Social Security has taken up more and more of the federal budget, but current proposals to balance the budget leave Social Security mostly exempt from cuts, the exceptions being Medicare and Medicaid, which are slated for sizable reductions.

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