social security

American  

[soh-shuhl si-kyoor-i-tee] / ˈsoʊ ʃəl sɪˈkyʊər ɪ ti /

noun

1. Usually Social Security a program of old-age, unemployment, health, disability, and survivors insurance maintained by the U.S. federal government through compulsory payments by specific employer and employee groups.

2. the theory or practice of providing economic security and social welfare for the individual through government programs maintained by funds from public taxation.

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social security British  

noun

1. public provision for the economic, and sometimes social, welfare of the aged, unemployed, etc, esp through pensions and other monetary assistance

2. (often capitals) a government programme designed to provide such assistance

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Etymology

Origin of social security

First recorded in 1930–35

Example Sentences

We both plan to take up the Social Security benefit at 70.

From MarketWatch

With a pension of $108,000 a year, Social Security of $90,000 a year for you and your wife collectively and your rental income, you could — in a worst-case scenario — actually exceed $700,000 in annual income, pushing you into the top federal and California state tax brackets.

From MarketWatch

Payroll taxes fund 87% of Social Security spending, requiring an additional $188 billion, or 4% of unobligated spending.

From The Wall Street Journal

What happens to her if I die before starting to collect my Social Security benefits?

From MarketWatch

A person is eligible for Social Security retirement benefits when they have 40 credits of covered work, which usually equates to about 10 years in the workforce.

From MarketWatch