Among all the facets of a nation, social security is considered as very critical and plays roles such as supporting people in old age, illness and joblessness. This article will dwell on the biggest social security programs operated by the governments in US, South Africa and India.
1. South Africa – SASSA
It is a South African government agency mandated to run the country’s social-security system. It makes monthly payments to those who qualify to be on its rolls including citizens and also some non-citizens. Some of the key grants provided under SASSA are:
- Old Age Grant: It gives elderly people over 60. Currently the amount paid as monthly grants is R1880.
- Disability Grant: The purpose of this program is to offer assistance to people within an age bracket of 18-59 who have temporarily stopped working because of either mental or physical limitations. They also get R1880 as the monthly grant amount.
- Child Support Grant: Helping families with extremely low incomes care for children up to eighteen years old. There are up to six beneficiaries who can each receive R480.
- Foster Child Grant: Foster Parents or care givers are being paid for looking after orphans or children in need of alternative care. Grant per month is R1,060 for each of them.
Through these social assistance programs, SASSA helps to reduce poverty in South Africa. Over time, it has saved the lives of millions of needy people.
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Wednesday 26Feb. 2025
USA – FAFSA (Free Application for Federal Student Aid)
The United States of America has established the FAFSA which offers grants to students who are enrolled in colleges or other types of training institutions, including career schools. Some key aspects of FAFSA are:
- Grants: The need-based Pell grants that do not have to be repaid is based on one’s ability to pay and income. The 2023-14 award will not exceed sixty eighty-nine dollars and fifty cents.
- FEDLoan: The student loan interest is low, subsidized and unsubsidized loans. Loan repayment begins following graduation or when a student is not registered for at least a half-time basis.
- Work-Study: Student’s part-time jobs in order to help them earn money for schooling.
- Scholarships: Merit scholarships and other non-loan assistance based on students’ fields of studies and other reasons.
Every year, millions of American students enjoy affordable higher education thanks to FAFSA. Over the years, it has tremendously improved college admission rates.
India – Old Age Pension Scheme
One of the oldest and largest social security schemes in India is the old age pension scheme. Some key aspects:
- Eligibility: Adult citizens aged 60-79 years with an annual income below Rs.47,000 both urban and rural.
- Benefits: The state’s pension amount is Rs.300 to 500 per month. Other states provide extra top-up amounts.
- Coverage: The Economic Survey of 2021-22 estimates that it has covered about 23 crore beneficiaries all over India.
- Implementation: It operates through the states and union-territories. The states receive fifty percent support from the central government.
- Impact: It has greatly eliminated old age poverty and ensured financial security for millions of senior citizens in India.
Conclusion
Vulnerable section of people is supported by social security schemes in every country. While their approaches may differ in terms of implementation and scope, the underlining aim is to guarantee minimum income protection. The schemes discussed have changed the lifestyles of millions of people in US, South Africa and India.
