Social Security
• ‘Security that society furnishes through appropriate organization, against certain risks to which its members are exposed’
• These risks are mostly
– Sickness, Invalidity, Maternity, Old age and Death
• ‘Social insurance’ and ‘social assistance’ are also types social security:
Social insurance:
• It is any government-sponsored program with the following four characteristics:
1. The benefits, eligibility requirements and other aspects of the program are defined by statute;




