Types of Social Security Schemes
#1
What are the different types of social security schemes available in HRM?
Reply

#2
Types of Social Security Schemes are:

(a) Social assistance schemes, and
(b) Social insurance schemes.

Principal features of social assistance schemes are as follows:
1. The entire cost of the scheme is met by the State;
2. Assistance is given as of legal right to certain prescribed categories of individuals only;
3. In assessing the person need his other incomes and resources are taken into account;
4. Assistance is given to bring the person's total income to a certain predetermined minimum level. No account is taken of his previous earnings or customary standard of living.
Principal features of social insurance schemes are as follows:
1. These are financed by contributions made by employers, workers and the State;
2. Surplus funds not needed to pay current benefits are invested to earn further income;
3. A person's right to receive benefit is directly related to his making regular contributions and not to the assessment of his income or need.
Reply



Possibly Related Threads…
Thread Author Replies Views Last Post
  Social security measures adopted in India abhilash 1 30,581 02-18-2014, 01:01 PM
Last Post: nbm
  Principal features of Social insurance schemes abhilash 1 4,632 02-18-2014, 12:59 PM
Last Post: nbm
  Principal features of social assistance schemes abhilash 1 5,568 02-18-2014, 12:59 PM
Last Post: nbm
  Define social security abhilash 1 5,178 02-18-2014, 12:57 PM
Last Post: nbm
  Objectives of Wage Incentive Schemes rms 1 9,834 01-30-2013, 11:07 AM
Last Post: nbm



Users browsing this thread:
1 Guest(s)

Powered By MyBB, © 2002-2024 Melroy van den Berg.