Sentences with phrase «new social insurance program»

The significance of the new social insurance program was that it sought to address the long - range problem of economic security for the aged through a contributory system in which the workers themselves contributed to their own future retirement benefit by making regular payments into a joint fund.

Not exact matches

In both cases, social programs — whether it was FDR's New Deal, which created unemployment insurance and institutionalized unions, or the G.I. Bill, which funded post-secondary employment for soldiers — stemmed the rising tide.

While Old Age Security and the Guaranteed Income Supplement were designed to provide a basic minimum amount to Canadian seniors, the new Canada and Quebec Pension Plans were contributory social insurance programs established to provide basic death, survivor and disability benefits as well as retirement coverage.

A new paper argues economic freedom and robust social insurance programs are natural complements.

In many respects, the New Deal was less about income redistribution than about the recognition of «group rights» benefitting these cultural challengers, a recognition embedded in such policies as the fostering of labor unions, public works programs, and social insurance.

Alexandria, VA: A new poll by The Senior Citizens League (TSCL) found that there would be serious financial repercussions for beneficiaries if Congress does not act in time to fix the Social Security Disability Insurance program.

This new act, among other provisions, established a social insurance program specifically designed to pay a continuing income to retired workers age 65 and older.

Excluding the times when new social entitlements were added, or added to the report, the unfunded liability of the US Government tended to increase at a rate of 9 %, because less was being contributed to the social insurance programs than was necessary to keep up with the liability.

Originating in 1935 after the New Deal, the United States Social Security system is a type of insurance program where employees and their employers contribute an amount per paycheck so that they are guaranteed benefits in retirement when they lose their ability to work due to disability, or after the death of a family member.