Question

Describe your view on the future of the Social Security Program. How do you think this program will look in 20 years? Explain.

Answer 1

Social security program is a insurance program , in which employees pay through the payroll withholding in the firm they used to work. It is benefited for retired persons as it insures disability or survivor income for those. Employees need to pay in the program , it must have a period of 10 years. And then at age of 62 they will get the benefits. Average indexed monthly earning defines the benefits at thee time of their high earning period.

For disable people who may go dead or having having for more than a than year will get the benefits of the social security benefits. Family of the person will also get the absenteeism off the same. Deceased employee family , children and spouse receives the benefits in consider with the benefits that the person made. But it is on condition that they not getting remarried. Younger children or disabled ones off the worker is eligible for the survivor benefits.

In future the program will provide a tensionless and satisfied retirement. High earning employees benefited more from the program. The social security program helps to save for the retirement.

FUTURE OF SOCIAL SECURITY

In coming future social security may change greatly. It is estimated to be at 2035 the funds in the security will social fro thee present state. Then the program will going to pay the amount they received from workers . It is because the cash reserves reduction. So the amount going to pay out annually. In earlier decades social security Program benefited more as they used to pay more. But now people saves little and it caused the diminish in funds.

In 20 years social Security fund   goes on decreasing and and fund ultimately diminishes. Social security administration and congressional budget office has estimated it. Social security thus differs much in coming 20 years. As the overall living accost was increasing in rate the absenteeism after retirement is nominal. It means in view of spending power thee amount going to receive at retirement is thee same amount which which are now. But in case of they thee benefits goes on trend ding in 20 years.