Social benefits

economic-dictionary

Social benefits are public aid, granted by Social Security to citizens. To do this, they must present deficiencies due to various factors, which prevent it from developing in an inclusive way.

Social benefits are aids that try to offer protection to citizens who are in danger, or a situation of social exclusion. To avoid this, governments offer social benefits, which are financial aid to promote inclusion and reduce inequalities and poverty. To qualify for social benefits, a series of requirements demanded by the different governments must be met.

These aids try to benefit the citizen, with aids that promote their inclusion.

The legislation of each country determines who can, or not, opt for a social benefit.

Types of social benefits

Among the most well-known social benefits, the following should be highlighted:

  • Unemployment.
  • Widowhood pension.
  • Orphan's pension.
  • Help for gender violence.
  • Help for being a victim of a terrorist attack
  • Benefits to families in a situation of social exclusion.
  • Benefits to disadvantaged sectors.

Requirements to apply for a social benefit

The requirements to apply for a social benefit vary depending on the country to which we refer. Depending on this, these requirements will be one or the other.

However, among the common requirements is being a citizen of the country, as well as being a resident there for a minimum of years. Subsequently, depending on the requested benefit, the requirements for it to be granted must be met.

For example, if we want to request a widow's pension, we must prove that our partner has died, as well as the requirements requested by the administration in the country in which we request it.

And it is that there is no uniform method that shows the requirements in a homogeneous way. The large amount of social assistance, as well as the legislative divergences, make it necessary to study each case individually.

Private social benefits

Apart from the aid offered by the State, we must know that social benefits can not only be provided by the State, but that we can also count on them privately.

In this sense, a private insurance company could offer us insurance that guarantees an unemployment benefit, a widow's benefit, as well as an orphan's pension.

This type of benefit is guaranteed by the payment of a premium, collected in a policy, and agreed between the insurer and the insured.

Social benefits paid by the employer

In many Latin American countries, such as Colombia, there are another series of social benefits that, unlike the previous ones, must be borne by the employer.

In this sense, we are referring to benefits such as vacations, severance pay or service premiums, severance pay, as well as another series of benefits that the employer delivers to the employee as if it were a social benefit.

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