who was eligible to receive social security when it was created in 1935
History of Social Security in the United States The Act provided benefits to retirees and the unemployed, and a lump-sum benefit at death. Payments to current retirees are financed by a payroll tax on current workers' wages, half directly as a payroll tax and half paid by the employer. The act also gave money to states to provide assistance to aged individuals (Title I), for unemployment insurance (Title III), Aid to Families with Dependent Children (Title IV), Maternal and Child Welfare (Title V), public health services (Title VI), and the blind (Title X).[3]
Social security in Australia The Age Pension was the first payment made by the Commonwealth Government, dating back to 1909.[citation needed] It is available to persons aged 65 years and over.[11] The eligibility age is currently being progressively increased to a cap of 67 years old.[12] Except for the mandatory superannuation scheme, workers do not contribute to a pension or insurance scheme in Australia, unlike pension schemes in many other countries.[citation needed] Taxpayer-funded pensions are means tested.[11]