Akademik

social security

social security ˌsocial seˈcurity noun [uncountable] FINANCE

1. government money that is paid to people who are unemployed, old, or ill; = welfare AmE:

• Are you receiving social security benefits?

• Cutbacks in social security payments were implemented on April 1st.

2. Social Security abbreviation SS a system of insurance run by the US government, into which workers make regular payments, and which provides money when they are unable to work, especially because they are old:

• spending on programs such as Social Security and Medicare

• I need your name, age, and Social Security number.

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social security UK US noun [U]

► (US Welfare) GOVERNMENT, FINANCE a system of payments by the government to people who are ill, poor, or have no job: »I didn't want to be on social security.
»Unless you are claiming social security or are a pensioner, you have to pay for each visit to the doctor in Ireland.
»She might be entitled to a social security benefit called disability living allowance.
»a social security system

► (US GOVERNMENT, FINANCE, TAX a tax system in the US in which the government collects money from workers and companies so that it can make payments to people who are unemployed, ill, or too old to work: »pay social security contributions
»Will my military pension count against the $11,500 I can earn before losing social security benefits?
»Besides paperwork, another burden on the employer is the social security system.

→ Compare NATIONAL INSURANCE(Cf. ↑national insurance)

Financial and business terms. 2012.