Social security and social welfare are structured system of protection, desired to ensure individuals and families, maintained a maximum standard of living and financial stability while often used interchangeably
They different primarily in how they are funded and who is eligible
Social security is generally a contribution based social insurance program, it provides income replacement for specific life events like retirement, disability or death of a bread winners.
Social welfare is typically a needs based ( means tested ) safety net funded by general taxes , it provides assistance to those living in poverty or facing urgent crisis regardless of thier works history
Types
Old age and retirement benefits
This is the monthly cash payment to individuals who have reached a certain age after a lifetime of work
Disability insurance
Financial support for those unable to work due to a significant physical or mental medical condition
Survivors Benefits
This are payment made to spounses and depend children of a deceased workers
Unemployment insurance
Temporary cash assistance for workers who have lost thier job through no faults of thier own
Health and medical assistance
Programs that provides affordable or free healthcare such as medicare for the elderly and medical for low income individuals
Nutrition and food support
Assistance for purchasing groceries such as the supplement nutrition assistance programs.
Housing assistance
Subsides or vouchers to help families secure safe and stable housing
Family and child benefits
Support for raising children including child allowance, foster care services and Educational programs
Why is the Government responsible?
Government are responsible for social security and social welfare because it is considered a fundamental obligation to protect citizens from economic and social risks that they cannot manage alone
Constitutional mandate
In many countries including Nigeria the constitution explicitly states that the security and welfare of people is the primary purpose of government
Private market failures
Private market often fails to provide affordable insurance for risks like long term disability or unemployment allowance necessitating a public safety net
Poverty Reduction
Government use welfare to prevent extreme destination which reduces crimes, promotes social stability and ensure a healthier more productive work force
Social justice
Welfare system aim for distributional equity ensuring that the benefits of national wealth reach vulnerable groups like the elderly , children and the disabled.
In conclusion is Good to educate our citizens on thier rights of social security and welfare of the people from Government to ensure the implementation of the Renewed hope Agenda of APC administration in Nigeria.
– Benjamin Ibrahim writes from Lokoja, Kogi state.
+2348069596250
