First and Last Name/s of Presenters

Victoria HagueFollow

Participation Type

Paper Talk

Mentor/s

Professor Karen Cascini

College

Welch College of Business

Location

Panel C: University Commons UC 109

Start Day/Time

4-20-2018 11:00 AM

End Day/Time

4-20-2018 12:15 PM

Abstract

Social Security in the United States is one of the ways that the country helps to provide income to those who are retired. The criteria for eligibility for this is strict, therefore this is not something that is available to everyone. The funding for this is done by employees, employers and self-employed individuals. This is the only type of retirement income that is regulated by the federal government. Canada has three governmentally regulated programs, the Canada Pension Program, the Old Age Security program and the Guaranteed Income Supplement program. These programs are most closely related to a Social Security system. Individuals can be eligible for one of these or even all three of these. The Canada Pension Plan is funded like that of the United States, but the other programs are government funded. The Netherlands also has a system that is funded through a combination of the government as well as employees and employers. The percentage of income that retired people in the Netherlands receives is much higher than both the United States and Canada, but the reason is because the funds are collected in a different way.

College and Major available

Accounting

Creative Commons License

Creative Commons Attribution-Noncommercial 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 4.0 License.

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Apr 20th, 11:00 AM Apr 20th, 12:15 PM

Social Security Income: A Comparison of the US System and Abroad

Panel C: University Commons UC 109

Social Security in the United States is one of the ways that the country helps to provide income to those who are retired. The criteria for eligibility for this is strict, therefore this is not something that is available to everyone. The funding for this is done by employees, employers and self-employed individuals. This is the only type of retirement income that is regulated by the federal government. Canada has three governmentally regulated programs, the Canada Pension Program, the Old Age Security program and the Guaranteed Income Supplement program. These programs are most closely related to a Social Security system. Individuals can be eligible for one of these or even all three of these. The Canada Pension Plan is funded like that of the United States, but the other programs are government funded. The Netherlands also has a system that is funded through a combination of the government as well as employees and employers. The percentage of income that retired people in the Netherlands receives is much higher than both the United States and Canada, but the reason is because the funds are collected in a different way.

 

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