Social insurance in the context of "Per Albin Hansson"

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⭐ Core Definition: Social insurance

Social insurance is a form of social welfare that provides insurance against economic risks. The insurance may be provided publicly or through the subsidizing of private insurance. In contrast to other forms of social assistance, individuals' claims are partly dependent on their contributions, which can be considered insurance premiums to create a common fund out of which the individuals are then paid benefits in the future.

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Social insurance in the context of Public welfare

Welfare spending is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. Social security may either be synonymous with welfare, or refer specifically to social insurance programs which provide support only to those who have previously contributed (e.g. pensions), as opposed to social assistance programs which provide support on the basis of need alone (e.g. most disability benefits). The International Labour Organization defines social security as covering support for those in old age, support for the maintenance of children, medical treatment, parental and sick leave, unemployment and disability benefits, and support for sufferers of occupational injury.

More broadly, welfare may also encompass efforts to provide a basic level of well-being through subsidized social services such as healthcare, education, infrastructure, vocational training, and public housing. In a welfare state, the state assumes responsibility for the health, education, infrastructure and welfare of society, providing a range of social services such as those described.

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Social insurance in the context of Social justice

Social justice is justice in relation to the distribution of wealth, opportunities, and privileges within a society where individuals' rights are recognized and protected. In Western and Asian cultures, the concept of social justice has often referred to the process of ensuring that individuals fulfill their societal roles and receive their due from society. In the current movements for social justice, the emphasis has been on the breaking of barriers for social mobility, the creation of safety nets, and economic justice. Social justice assigns rights and duties in the institutions of society, which enables people to receive the basic benefits and burdens of cooperation. The relevant institutions often include taxation, social insurance, public health, public school, public services, labor law and regulation of markets, to ensure distribution of wealth, and equal opportunity.

Modernist interpretations that relate justice to a reciprocal relationship to society are mediated by differences in cultural traditions, some of which emphasize the individual responsibility toward society and others the equilibrium between access to power and its responsible use. Hence, social justice is invoked today while reinterpreting historical figures such as Bartolomé de las Casas, in philosophical debates about differences among human beings, in efforts for gender, ethnic, and social equality, for advocating justice for migrants, prisoners, the environment, and the physically and developmentally disabled.

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Social insurance in the context of Social Security Administration

The United States Social Security Administration (SSA) is an independent agency of the U.S. federal government that administers Social Security, a social insurance program consisting of retirement, disability and survivor benefits. The Social Security Administration was established by the Social Security Act of 1935 and is codified in 42 U.S.C. § 901 (49 Stat. 635). It was created in 1935 as the "Social Security Board", then assumed its present name in 1946. Its current leader is Commissioner Frank Bisignano.

SSA offers its services to the public through 1,200 field offices, a website, and a national toll-free number. Field offices, which served 43 million individuals in 2019, were reopened on April 7, 2022 after being closed for two years due to the COVID-19 pandemic.

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Social insurance in the context of European economic interest grouping

A European Economic Interest Grouping (EEIG) is a type of legal entity of the European corporate law created on 25 July 1985 under European Community (EC) Council Regulation 2137/85. It is designed to make it easier for companies in different countries to do business together, or to form consortia to take part in EU programmes.

Its activities must be ancillary to those of its members, and, as with a partnership, any profit or loss it makes is attributed to its members. Thus, although it is liable for VAT and employees’ social insurance, it is not liable to corporation tax. It has unlimited liability. It was based on the pre-existing French groupement d´intérêt économique (G.i.e.).

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Social insurance in the context of Social Security (United States)

In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). The Social Security Act was passed in 1935, and the existing version of the Act, as amended, encompasses several social welfare and social insurance programs.

The average monthly Social Security benefit for May 2025 was $1,903. This was raised from $1,783 in 2024. The total cost of the Social Security program for 2022 was $1.244 trillion or about 5.2 percent of U.S. gross domestic product (GDP). In 2025 there have been proposed budget cuts to social security.

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