The purpose of the Social Security Administration was to provide financial support and assistance to retired individuals, as well as those with disabilities and their dependents, through the implementation of social security programs and benefits.
The Social Security Administration (SSA) was established in 1935 as a response to the economic hardships faced by many Americans during the Great Depression. Its primary purpose is to administer and distribute benefits to eligible individuals under various social security programs. Here are some key aspects of the SSA's mission:
1. Retirement benefits: The SSA provides a safety net for retired individuals, ensuring they have a stable income in their later years. This is facilitated through the Old-Age, Survivors, and Disability Insurance (OASDI) program, commonly known as Social Security. It offers monthly benefits to workers who have paid into the system throughout their careers.
2. Disability benefits: The SSA also offers assistance to individuals with qualifying disabilities that prevent them from being able to work. The Social Security Disability Insurance (SSDI) program provides financial support to individuals who have paid into Social Security and have become disabled before reaching retirement age.
3. Dependent benefits: The SSA extends benefits to dependents of retired or disabled individuals. This includes providing a portion of the benefits to spouses, children, and sometimes dependent parents.
4. Survivor benefits: In the event of the death of a worker who qualified for Social Security benefits, the SSA supports surviving spouses, children, and dependent parents with survivor benefits.
5. Medicare: The SSA administers the Medicare program, which provides health insurance coverage primarily to people aged 65 and older, as well as certain disabled individuals.
Overall, the purpose of the SSA is to provide financial support to individuals who are retired, disabled, or dependents of those individuals. This serves as a social safety net and helps to ensure a basic standard of living for vulnerable segments of the population.