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Assignment on the Social Security of Different

Countries

Submitted To:

……………Ms. Vandana Sharma

Submitted by…. 

…….name – Darpan kumar pandey

Roll no. -110014

MBA 3RD

SEM

PUNJAB INSTITUTE OF MANAGEMENT &

TECHNOLOGY MANDI GOBINDGARH

Social Security 

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A social security scheme is primarily a system that supports thelivelihood of the people by providing necessary support againstconditions that lead to poverty, illness, injury, death, aging andunemployment and so on

Social Security (United States)

In the United States, Social Security refers to the federal Old-Age, Survivors,

and Disability Insurance (OASDI) program. The original Social Security Act(1935) and the current version of the Act, as amended encompass several social

welfare and social insurance programs. The larger and better known programs

are -

  Federal Old-Age (Retirement), Survivors, and Disability

Insurance

The main part of the program is sometimes abbreviated OASDI (Old Age, Survivors,

and Disability Insurance) or RSDI (Retirement, Survivors, and Disability Insurance).

When initially signed into law by President Franklin D. Roosevelt in 1935 as part of 

his New Deal, the term Social Security covered unemployment insurance as well. The

term, in everyday speech, is used to refer only to the benefits for retirement,

disability, survivorship, and death, which are the four main benefits provided by

traditional private-sector pension plans. In 2004 the U.S. Social Security system paidout almost $500 billion in benefits.

By dollars paid, the U.S. Social Security program is the largest government program

in the world and the single greatest expenditure in the federal budget, with 20.8% for

social security, compared to 20.5% for discretionary defense and 20.1% for

Medicare/Medicaid. Social Security is currently the largest social insurance program

in the U.S. where in 2003 combined spending for all social insurance programs

constituted 37% of government expenditure and 7% of the gross domestic product. 

Social Security is currently estimated to keep roughly 40 percent of all Americansage 65 or older out of poverty. The Social Security Administration is headquartered

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in Woodlawn, Maryland, just to the west of Baltimore. 

The 2011 annual report by the program's Board of Trustees noted the following: in

2010, 54 million people were receiving Social Security benefits, while 157 million

people were paying into the fund; of those receiving benefits, 44 million werereceiving retirement benefits and 10 million disability benefits. In 2011, there will be

56 million beneficiaries and 158 million workers paying in. In 2010, total income was

$781.1 billion and expenditures were $712.5 billion, which meant a total net increase

in assets of $68.6 billion. Assets in 2010 were $2.6 trillion, an amount that is

expected to be adequate to cover the next 10 years. In 2023, total income and interest

earned on assets are projected to no longer cover expenditures for Social Security, as

demographic shifts burden the system. By 2035, the ratio of potential retirees to

working age persons will be 37 percent — there will be less than three potential

income earners for every retiree in the population. The trust fund would then be

exhausted by 2036 without legislative action. 

 Primary Insurance Amount

A worker's retirement income benefit is based on his Primary Insurance Amount, orPIA. The PIA is the average of the highest 35 years of the worker's covered earnings

(before deduction for FICA). Covered earnings in any year are limited by that

year's Social Security Wage Base, the maximum earnings that could be subject to the

OASDI portion of FICA payroll tax ($106,800 in 2010[67]). If the worker has fewer

than 35 years of covered earnings, zeros are used to bring the total number of years of 

earnings up to 35. Years of covered work more than 2 years before the year the

worker turns 62 are indexed upward to reflect the increase in the national wage via

the average wage index (AWI) from the time at which the earnings were covered inthe past to the value of the AWI two years before the worker turns 62 (which is the

most recent year available at the date the worker turns 62). One-twelfth of this 35-

year average is the average indexed monthly earnings (AIME). The PIA then is 90

percent of the AIME up to the first (low) bend point, and 32 percent of the excess of 

AIME over the first bend point but not in excess of the second (high) bend point, plus

15 percent of the AIME in excess of the second bend point. Bend points designate the

point at which the rates of return on a beneficiary's AIME change.[68][69] In 2008, the

bend points for calculating the PIA are a change from 90% to 32% at $711 and achange to 15% at $4,288. This PIA is then adjusted by automatic cost-of-living

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adjustments annually starting with the year the worker turns 62. Similar computations

based on career average earnings determine disability and survivor benefits. These

alternate computations average less years of earnings when the worker dies or is

disabled before age 62 and use different base years for the inflation adjustments.

 Temporary Assistance for Needy Families

Temporary Assistance for Needy Families (TANF, often pronounced /ˈtænɨf/) is

one of the United States of America's federal assistance programs. It began on July 2,

1997, and succeeded the Aid to Families with Dependent Children (AFDC) program,providing cash assistance to indigent American families with dependent children

through the United States Department of Health and Human Services. Prior to 1997,

the federal government designed the overall program requirements and guidelines,

while states administered the program and determined eligibility for benefits. Since

1997, states have been given block grants and both design and administer their own

programs. Access to welfare and amount of assistance varied quite a bit by state and

locality under AFDC, both because of the differences in state standards of need and

considerable subjectivity in caseworker evaluation of qualifying "suitable homes.However, welfare recipients under TANF are actually in completely different

programs depending on their state of residence, with different social services

available to them and different requirements for maintaining aid.

 Health Insurance for Aged and Disabled (Medicare)

Medicare is a social insurance program administered by the United States

government, providing health insurance coverage to people who are aged 65 and

over; to those who are under 65 and are permanently physically disabled or who have

a congenital physical disability; or to those who meet other special criteria. Medicare

in the United States somewhat resembles a single-payer health care system, but is not.Before Medicare, only 51% of people aged 65 and older had health care coverage,

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and nearly 30% lived below the federal poverty level. "Original Medicare" plans

(when Medicare Advantage has not been elected) cover 80% of the Medicare-

approved amount of any given medical cost; the remaining 20% of cost must be paid

by either a Medicare Supplement plan, which is a "supplemental insurance" from a

private health insurance company (normally requiring a monthly insurance

premium paid to that company by the holder), or out-of-pocket via the patient's own

personal funds (check, money order, cash, etc.). Medicare Advantage plans are not

Medicare Supplements, but take the place of "Original Medicare". In return for a

premium, these plans share costs and cap out of pocket expenses.

The Medicare program also funds residency training programs for the vast majority

of physicians in the United States.

The Social Security Act of 1965 was signed into law on July 30, 1965, byPresident Lyndon B. Johnson as amendments to existing Social Security legislation.

This legislation included the establishing of the Medicare program. At the bill-

signing ceremony, Johnson enrolled former President Harry S. Truman as the first

Medicare beneficiary and presented him with the first Medicare card, and Truman's

wife Bess, the second.

 State Children's Health Insurance Program

The State Children's Health Insurance Program (SCHIP)  – later known more

simply as the Children's Health Insurance Program (CHIP)  – is a program

administered by the United States Department of Health and Human Services that

provides matching funds to states for health insurance to families with children. The

program was designed with the intent to cover uninsured children in families with

incomes that are modest but too high to qualify for Medicaid. 

At its creation in 1997, SCHIP was the largest expansion of taxpayer-funded healthinsurance coverage for children in the U.S. since Medicaid began in the 1960s. The

statutory authority for SCHIP is under title XXI of the Social Security Act. It was

sponsored by Senator Ted Kennedy in a partnership with Senator Orrin Hatch[3] with

support coming from First Lady Hillary Rodham Clinton during the Clinton

administration. 

States are given flexibility in designing their SCHIP eligibility requirements and

policies within broad federal guidelines. Some states have received authority through

waivers of statutory provisions to use SCHIP funds to cover the parents of children

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receiving benefits from both SCHIP and Medicaid, pregnant women, and other

adults. SCHIP covered 6.6 million children and 670,000 adults at some point during

federal fiscal year 2006, and every state, except Arizona [1] has an approved plan.

Despite SCHIP, the number of uninsured children continued to rise, particularly

among families that cannot qualify for SCHIP. An October 2007 study by the Vimo

Research Group found that 68.7 percent of newly uninsured children were in families

whose incomes were 200 percent of the federal poverty level or higher.[8] In FY 2008,

the program faced funding shortfalls in several states.

During the administration of George W. Bush, two attempts to expand funding for the

program failed when President Bush vetoed them. Mr. Bush argued that such efforts

were steps toward federalization of health care, and would "steer the program away

from its core purpose of providing insurance for poor children and toward covering

children from middle-class families."] On February 4, 2009, President Barack 

Obama signed the Children's Health Insurance Reauthorization Act of 2009,

expanding the healthcare program to an additional 4 million children and pregnant

women, including for the first time legal immigrants without a waiting period.

.................................................................................................................................................................

Social programs in Canada.

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Social programs in Canada include all government programs designed to give

assistance to citizens outside of what the market provides. The Canadian social

safety net covers a broad spectrum of programs, and because Canada isa federation, many are run by the provinces. Canada has a wide range of 

government transfer payments to individuals, which totalled $164 billion in

2008. Only social programs that direct funds to individuals are included in that

cost; programs such as Medicare and public education are additional costs

Healthcare

Medicare (French: assurance-maladie) is the unofficial name

for Canada's publicly funded universal health insurance system. The formal

terminology for the insurance system is provided by the Canada Health Act  and

the health insurance legislation of the individual provinces and territories.

Under the terms of the Canada Health Act, all "insured persons" (basically,

legal residents of Canada, including permanent residents) are entitled to receive"insured services" without copayment. Such services are defined as medically

necessary services if provided in hospital, or by 'practitioners' (usually

physicians).  Approximately 70% of Canadian health expenditures come from

public sources, with the rest paid privately (both through private insurance, and

through out-of-pocket payments). The extent of public financing varies

considerably across services. For example, approximately 99% of physician

services, and 90% of hospital care, are paid by publicly funded sources, whereas

almost all dental care is paid for privately.  Most doctors are self-employed

private entities.

Education

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Education in Canada has public education provided, funded and overseen

by federal, provincial, and local governments.  Education is within provincial

 jurisdiction and the curriculum is overseen by the province.  Education in

Canada is generally divided into primary education, followed by secondary

education and post-secondary. Within the provinces under the ministry of 

education, there are district school boards administering the educational

programs. Education is compulsory up to the age of 16 in every province in

Canada, except for Ontario and New Brunswick, where the compulsory age is

18. In some provinces early leaving exemptions can be granted under certain

circumstances at 14. Canada generally has 190 school days in the year,

officially starting from September (after Labour Day) to the end of June

(usually the last Friday of the month, except in some cases in Quebec when it is

 just before June 24 – the provincial holiday)

Housing

Canada Mortgage and Housing Corporation (CMHC) is a Crowncorporation, owned by the Government of Canada, founded after World War II

to provide housing for returning soldiers. After the war, a serious housing

shortage and the return of large numbers of veterans led the government to

create the CMHC to promote the development of new housing by offering very

low cost mortgages with small down payments and easy terms.  It later built

and/or funded urban renewal projects in Canada's cities.

Today its main function is providing insurance for residential mortgage loans to

Canadian home buyers. This insurance protects mortgage lenders against

mortgage defaults on mortgages of less than 20% down. Besides mortgage

insurance, the agency provides financing to housing projects and renovations,

does housing market analysis and funds research into housing design and

technologies along with the National Research Council. 

The Corporation reports to the Minister of Labour and Housing and the board of 

directors and president are appointed by the Government of Canada.

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Employment & Unemployment benefits

In Canada, the system now known as Employment Insurance was formerly

called Unemployment Insurance. The name was changed in 1996, in order to

alleviate perceived negative connotations. Canadian workers pay premiums of 

1.78 %[1] of insured earnings in return for benefits if they lose their jobs.

Employers contrive of employee premiums. Since 2011, there is no government

contribution to this fund. The amount a person receives and how long they can

stay on EI varies with their previous salary, how long they were working, and

the unemployment rate in their area. The EI system is managed by ServiceCanada, a service delivery network reporting to the Minister of Human

Resources and Social Development Canada. 

A bit over half of EI benefits are paid in Ontario and the Western provinces but

EI is especially important in the Atlantic Provinces, which have higher rates of 

unemployment. Many Atlantic workers are also employed in seasonal work 

such as fishing, forestry or tourism and go on EI over the winter when there is

no work. There are special rules for fishermen making it easier for them to

collect EI. EI also pays for maternity and parental leave, compassionate careleave, and illness coverage. The program also pays for retraining programs (EI

Part II) through labour market agreements with the Canadian provinces.

An unemployment insurance program was first attempted in 1935 during

the Great Depression by the government of R.B. Bennett. It was, however, ruled

unconstitutional by the Supreme Court of Canada as unemployment was judged

to be an insurance matter falling under provincial responsibility. After a

constitutional amendment was agreed to by the provinces, a reference to

"Unemployment Insurance" was added to the matters falling under federalauthority under the Constitution Act, 1867, and the first Canadian system was

adopted in 1940. Because of these problems Canada was the last major Western

country to bring in an employment insurance system. It was extended

dramatically by Pierre Trudeau in 1971 making it much easier to get. The

system was sometimes called the 10/42, because one had to work for 10 weeks

to get benefits for the other 42 weeks of the year. It was also in 1971 that the UI

program was first opened up to maternity and sickness benefits, for 15 weeks in

each case.

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The generosity of the Canadian UI program was progressively reduced after the

adoption of the 1971 UI Act. At the same time, the federal government

gradually reduced its financial contribution, eliminating it entirely by 1990. The

EI system was again cut by the Progressive Conservatives in 1990 and 1993,

then by the Liberals in 1994 and 1996. Amendments made it harder to qualify

by increasing the time needed to be worked, although seasonal claimants (who

work long hours over short periods) turned out to gain from the replacement, in

1996, of weeks by hours to qualify. The ratio of beneficiaries to unemployed,

after having stood at around 40 percent for many years, has recently reached

close to 50% (end of 2009).[2] Many unemployed persons are not covered for

benefits (e.g. the self-employed), while others may have exhausted their

benefits or did not work long enough to qualify. However, it is noted that 80

percent of insured job-losers do initially receive EI benefits in Canada. Thelength of time one could take EI has also been cut repeatedly. The 1994 and

1996 changes contributed to a sharp fall in Liberal support in the Atlantic

Provinces in the 1997 election. 

In 2001, the federal government increased parental leave from 10 to 35 weeks

and allowed workers to take EI for compassionate care leave while caring for a

dying relative. Total EI spending is projected at $22.7 billion for 2010 (figures

in Canadian dollars). 

A significant part of the federal fiscal surplus of the Jean Chrétien and Paul

Martin years came from the EI system. Premiums were reduced much less than

falling expenditures - producing, from 1994 onwards, EI surpluses of several

billion dollars per year, which were added to general government revenue. The

cumulative EI surplus stood at $57 billion at March 31, 2008, nearly four times

the amount needed to cover the extra costs paid during a recession.   This drew

criticism from Opposition parties and from business and labour groups, and has

remained a recurring issue of the public debate. The Conservative Party, after

voicing much the same criticism while in opposition, chose not to recognizeexisting EI surpluses after being elected in 2006. Instead, the Conservative

government adopted in 2008 and 2009 legislation freezing the EI surplus

indefinitely and putting EI premiums on a pay-as-you-go basis, so that - starting

in 2011 - they will fluctuate in line with changes in unemployment levels.  On

December 11, 2008, the Supreme Court of Canada rejected a court challenge

launched against the federal government by two Quebec unions, who argued

that EI funds had been misappropriated by the government. 

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A slang term often used for EI is "Pogey". An example of the use of this term

would be "Just keep working until you get your pogey", or "my husband is on

pogey".

SOCIAL SECURITY MEASURES IN RUSSIA:

Old-age pension

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Old-age labour pension: The benefit is calculated as the sum of threecomponents: a basic flat-rate benefit according to different categories of beneficiaries, a benefit based on the notional account, and a benefit based on thevalue of the individual account (contributions plus interest) to be paid beginning

in 2013.

The basic monthly flat-rate benefit for a pensioner (August 2008) with nodependents is 1,794 rubbles; 2,392 rubbles with one dependent; 2,990 rubbleswith two dependents; 3,588 rubbles with three or more dependents.

The basic monthly flat-rate benefit for a pensioner aged 80 or older with nodependents is 3,588 rubbles; 4,186 rubbles with one dependent; 4,784 rubbleswith two dependents; 5,382 rubbles with three or more dependents.

There is no officially stated minimum or maximum monthly pension.

Deferred pension: Calculated in the same way as the old-age pension.

State length-of-service pension: The benefit is calculated according to the lengthof state service and the value of wages earned.

State social pension: The amount of the social pension is a percentage of thebasic flat-rate component of the labour pension.

Benefit adjustment: Benefits are adjusted according to the rate of inflation andincreases in the average wage.

Permanent Disability Benefits:

 Disability labour pension: The benefit is calculated according to three assesseddegrees of disability: Group III, 100% incapable of work and requiring constantattendance; Group II, 100% incapable of work but not in need of constantattendance; Group I, 50% incapable of work and not in need of constantattendance. The benefit is calculated as the sum of three components: a basicflat-rate benefit according to different categories of beneficiaries (and increasedaccording to the number of dependents), a benefit based on the notionalaccount, and a benefit based on the value of the individual account

(contributions plus interest) to be paid beginning in 2013.

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Benefit adjustment: Benefits are adjusted according to the rate of inflation andincreases in the average wage.

Survivor Benefits:

Survivor labour pension: The benefit is calculated as the sum of twocomponents: a basic flat-rate benefit according to different categories of survivor, and a benefit based on the notional account and on the number of eligible survivors.

The basic monthly flat-rate benefit for full orphans (August 2008) is 1,794rubbles for each child; for other eligible members of the family of the deceasedbreadwinner, 897 rubbles.

The pension is split equally among all eligible survivors. The pension does notcease on the remarriage of a widow.

Social survivor pension: The pension is set by the government according todifferent categories of beneficiaries. The pension is split equally among alleligible survivors.

Benefit adjustment: Benefits are adjusted according to the rate of inflation andincreases in the average wage.

Sickness benefit:

The benefit varies according to the length of the coverage period: 60% of current earnings is paid with less than 5 years of coverage; 80% with 5 to 8years; 100% with more than 8 years (or if the insured has three or moredependent children).

To provide care for a sick child younger than age 7, the benefit is provided forthe total period of sickness, but not more than for 60 days per calendar year; fora child younger than age 15, for 15 calendar days, but not more than for 45 daysper calendar year; for a family member older than age 15, for 7 calendar days,but not more than 30 days per calendar year.

The minimum benefit is equal to 100% of the minimum wage.

The maximum benefit is 16,125 rubbles.

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The minimum wage is 2,300 rubbles

Maternity benefit:

100% of the insured's gross earnings in the last 12 months is paid for 70 daysbefore the expected date of childbirth and 70 days after childbirth; may beextended by an additional 14 or 40 days in certain cases.

The maximum benefit is 23,400 rubbles.

Workers' Medical Benefits:

Compulsory medical insurance covers medical services provided directly to

patients by public and private health providers. Benefits include general,preventive, and emergency care; hospitalization; laboratory services; dentalcare; maternity care; vaccination; and transportation.

Cost sharing: Medicines prescribed during hospitalization are provided free orat reduced rates to persons with certain categories of illness, the disabled, andwar veterans.

Voluntary medical insurance covers specialized care, expensive medicines, and

appliances.

In accordance with legislative reform where special in-kind social benefits werereplaced by cash compensation, some categories of the population, including theelderly, persons with disabilities, and war veterans, may receive cashcompensation for some medicines.

Dependents' Medical Benefits

Compulsory medical insurance covers medical services provided directly topatients by public and private health providers. Benefits include general,preventive, and emergency care; hospitalization; laboratory services; dentalcare; maternity care; vaccination; and transportation.

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Cost sharing: Medicines prescribed during hospitalization are provided free orat reduced rates to persons with certain categories of illness, the disabled, andwar veterans.

Voluntary medical insurance covers specialized care, expensive medicines, andappliances.

In accordance with legislative reform where special in-kind social benefits werereplaced by cash compensation, some categories of the population, including theelderly, persons with disabilities, and war veterans, may receive cashcompensation for some medicines.

Unemployment benefit:

Benefits are calculated as a percentage of previous average wages and are paidfor up to 12 months. The benefits decrease over time: 75% of the previousaverage monthly wage is paid for the first 3 months; 60% for the next 4 months;and 45% for the last 5 months.

For a second 12-month period, the monthly benefit is equal to 30% of the localminimum subsistence level.

The minimum monthly benefit is 781 rubbles

Child allowances:

The allowance varies according to geographic region. The allowance is paid foreach child from age 18 months to age 16 (up to age 18 if a full-time student).

Supplements are paid if a parent fails to pay alimony.

Single parents receive twice the child allowance.

…………………………………Thank 

you…………………………………...