For some households, it makes sense for a worker to start reduced retirement benefits early in order to permit other family members to immediately start collecting Social Security benefits on the workerâs earnings record.
Social Security is a key source of financial support, and keeping track of the changes that happen with the program each year is crucial in order to plan your financial future. Keep these facts in mind, and you'll be better prepared to hit the ground running in 2018.
How to Qualify for Social Security Benefits. The Social Security program is the largest government program in the world and the single greatest expenditure in the federal budget. The actual name for Social Security is the Old Age, Survivors, and Disability Insurance (OASDI) program. It consists of many parts, including guaranteed income to the retired, disabled, and qualified survivors, insurance in the form of Medicare, unemployment benefits, and other programs.