Social Security System

Cultural  

1. A system of federally funded services and payments to help support the needy, the aged, and the temporarily unemployed as well as providing support for needy, dependent, disabled, or neglected children, rehabilitation for the disabled, and a host of other social services. The system was established as part of the New Deal and is funded by payroll taxes paid by workers and employers.

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Example Sentences

Prime Minister Pedro Sánchez has described immigrants as representing "wealth, development and prosperity" for Spain, pointing to their contribution to the social security system.

From BBC

"They are regulated by the social security system and have, in fact, remained stable. Anyone who has set foot in a French pharmacy knows this," it said.

From Barron's

Social Security system has been the most successful public program in the nation’s history.

From MarketWatch

The Social Security system pays retired Americans a vital source of lifetime income, so it is reasonable to ask whether buying an additional annuity would concentrate too much wealth in one payout type.

From The Wall Street Journal

In the French system, there are two budgetary laws – one that raises and allocates money in the social security system, including hospitals and pensions; and the principal one that covers everything else, from defence to education.

From BBC