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

Retirees are more vulnerable to inflation due to smaller Social Security adjustments and higher healthcare costs; seniors 75+ spend 16% of their budget on healthcare.

From Barron's

The annual cost-of-living adjustment to Social Security benefits is typically smaller than raises offered by employers.

From Barron's

When Marcia Mantell started her retirement consulting business 20 years ago, the most anyone could get in Social Security was $1,982 a month, which today is closer to the average payout.

From MarketWatch

Mantell has mastered these strategies over these past two decades and is now a sought-after speaker on Social Security, Medicare and other retirement topics.

From MarketWatch

She has been compiling a list of big changes to Social Security, Medicare and retirement planning since she started in the business, and to put together all she has learned, she has released an updated version of her book on the topic, now titled, “Social Security: Lightly Toasted, Not Burnt.”

From MarketWatch