Retirement plan

Introduction

The idea of the 'welfare state' is used to represent a model in which the state accepts responsibility for the welfare of its citizens. We need to plan and prepare a proper plan for retirement and not only depend on the Social Security. The core debate lies between a retirement plans, which provides welfare only when other means fail. The general sense that benefits should be provided like right has eroded, and there is an increasing emphasis on the responsibilities, as well as the rights, of citizenship.

Thesis Statement

In the United States, We need to plan and prepare for retirement and not relay on Social Security.

What is Social Security?

Definition of Social Security

Social security is often written about like, if it only concerned with the relief of poverty; countless of the key debates are about how to do that more effectively. However, social security is provided for many other reasons: they include prevention, social protection, redistribution and economic policy, as well as economic and social measures intended to benefit society as a whole. Further aims include compensation, income smoothing and the promotion of solidarity. There is much more to benefits than providing a safety net, or getting people back to work (Altmeyer, 45).

The purpose of the program

The term 'social security' is a term used for income maintenance provided by the state income maintenance is the provision of financial resources, when personal income is interrupted or insufficient. The social security system is predominantly made up of benefits administered by the Department, to Work and Pensions such as Retirement Pension and Jobseeker's Allowance and a suite of benefits run by Her Majesty's Revenue and Customs, including Child Benefit, Child Tax Credit and Working Tax Credit. Other benefits, including Housing Benefit and Council Tax Benefit, are administered by local authorities.

This description of the social security system is fairly conventional, and like many conventional classifications, it does not seriously stand up to close examination. The first question is: what are financial resources? Does a benefit cease to be social security if people get the goods rather than the money? In many other countries, social security includes a range of activities well beyond financial support, including health care; but the people in United States would think of the National Health Service as a form of income maintenance, because that is not how the health care system works here. Payments for social care, which have not been included in this paper, are not currently classified as social security benefits. At the same time, several benefits, which provide goods, rather than money, are treated like social security: examples are milk supplements and vitamins for expectant mothers, free school meals and school clothing vouchers. These are referred to as benefits in kind, but it is very unclear why they are classified differently from the provision of services such as medical care or nursing (Burns, 82).

When it was created

The Social Security Act was signed by FDR on 8/14/35. Taxes were collected for the first time in January 1937, and the ...