ECONOMICS
FISCAL POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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benefits to federal workers and military personnel
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benefits to those who are unemployed
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transportation and training expenses for low-income people
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benefits to older citizens, surviving family members of wage earners, and people with certain disabilities
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Detailed explanation-1: -We base your survivors benefit amount on the earnings of the person who died. The more they paid into Social Security, the higher your benefits would be. These are examples of the benefits that survivors may receive: Surviving spouse, full retirement age or older-100% of the deceased worker’s benefit amount.
Detailed explanation-2: -Social Security replaces a percentage of a worker’s pre-retirement income based on your lifetime earnings. The amount of your average wages that Social Security retirement benefits replaces depends on your earnings and when you choose to start benefits.
Detailed explanation-3: -Out of the employer’s contribution of 12%, an amount equal to 8.33% of salary (salary capped at INR 15, 000 per month in respect of Indian employees) is allocated to the pension fund of the employee.
Detailed explanation-4: -You can receive Social Security benefits based on your earnings record if you are age 62 or older, or a person with a disability or blindness and have enough work credits. Family members who qualify for benefits on your work record do not need work credits.