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What is Social Security Program? A brief impact on women after retirement

By Charles Hopkins Published 08/8/2006 | Social Issues

What do you really murmur in your mind when you come across Social Security written somewhere in bold? Ah! Social Security is that system of social welfare, insurance and protection for senior citizens, poor families, unemployed people or simply the needy. Right you are in defining but are you aware of the significance as well? Do you know about its impact on women specially those after retirement?

Also known as Old Age Survivors and Disability Insurance program (OASDI), the Social Security Program is very popular as retirement refuge in the United States. Female folk depend on the reliability of this system and the abbreviated OA stand for retired persons specifically. But recent surveys show that women have turn against to the proposal of transformation of amount lying under Social Security Program into a private account. They have stared fearing that the benefits associated with Social Security will get reduced if such reformation is allowed.

Is such fear unjustified? Is it inevitable? Fear factors are obvious at the time of retirement. This is the time when you switch off from your steady monthly income and depend on fixed savings you have made in all these years. If a bell of insecurity gongs on that area too, losing your nerves is instant.

Women retirees and those about to enter that domain look forward to legal protection in the prevention of Social Security system. What makes them react in such manner can be identified if you know these facts.

  • Do you think women enjoy the same privilege as men in our society?  Both nature and system have done an unfair justice to the fair sex. Medical Science has found out that the life span of a woman is more than that of a man.
  • Again most women dont get a high paid job. They actually land up in the professional sphere after fulfilling the domestic affairs. They are more accounted to become a homely mother than a hard-working bread earner, though they can even do this. But evaluations are always predicted as lower for them and they remain as the deprived lot.
  • Even after joining a company women remain ignorant about retirement schemes and plans. When they enter in a plan and start depositing money, its already too late. Most women dont even get jobs of that standard and security in those companies that have a pension plan for their employees after retirement.

Under each of these circumstances dont you too feel that the trauma women are facing regarding privatization of Social Security is natural? Again if the woman is a widow, the Social Security has special provisions for them apart from the core benefits. So, quite logically Social Security turns out to be the most reliable area from where women can get help without many hazards.

Actually the operating system of Social Security Program is not a complicated one. It is related to payroll taxes which the employer directly deducts from the employees paycheck and then the subjected amount is added with a portion from the employers account. The combination of both is fixed as the employees Social Security.

Women will definitely like such non-complicated thing and smooth processing.  And the benefits after she retires are certain and cent percent guaranteed. But if a private interference is allowed will such transparency remain? For men they have other avenues and retirement plans but for women who have simply depended on this one will lose the major. Think about it irrespective of sex! Is it another means to discriminate gender?