The Social Security system works on the bases of taxes that are paid by the public. Like when a person work then e or she pay taxes to social security. Most of the people think that Social Security is a retirement program but that's not true. This is one part of social security. After that this tax money is utilized or is given back to the people in a form of security benefit. This program also caters • Retired People who already have retired. • Disabled People. • Survivors of employees who have expired. • Beneficiaries' dependents. The money that is paid in taxes is not kept in any personal for its future use rather these taxes are used right away and are given to those people who are getting these benefits. The unused money goes to is not kept in any account rather it straight away goes in to Social Security trust funds Depending on the employee conditions, he may be eligible for Social Security at any age mostly at the age of 62. In reality, Social Security gives more benefits to offspring as compare to other governmental programs. Nowadays, over 46 million citizens i.e. Almost 1 out of ever 6, collects some sort of Social Security advantage/benefits.
Social security is concept of security and welfare of the society as a whole.