Question

highlight the need of social security in old age? write small paragraph .​

Answer 1

Answer:

The facts are that the Federal Old-Age Benefits section of the Social Security Act goes into effect January 1, 1937, and under these provisions a nation-wide retirement benefit plan is being set up whereby workers will build up rights to the payment of regular monthly benefits beginning at age 65 in proportion to the wages they have earned prior to that time. These benefits will always amount to more than the worker has paid in taxes, no matter how young the worker was when he started paying taxes and no matter how high his wages have been during the time he has paid taxes.