Meaning
A vital system protecting individuals and families from life’s common risks.Definition
A Social Security Scheme is a government-backed program offering financial aid for retirement, disability, unemployment, or healthcare. It ensures a basic standard of living.How It Works
Funded by contributions from employees, employers, and the government. Funds are pooled and disbursed as benefits when individuals meet eligibility.Benefits
Offers financial stability, healthcare, and income replacement during unforeseen events or retirement, promoting economic security.Author
