In the current essay I would like to explain my thoughts and my opinion considering the social security. There are many points of view considering the plan for retirement and social security in the country. I disagree with the following statement: In the United States, we do not need to plan for retirement. Social Security will cover our needs when we are retired.

I think that we have to create a proper plan for retirement that will ensure the comfortable living for people. The Social Security Act is a U.S. law, signed August 14, 1935 by Franklin Delano Roosevelt introduced under the New Deal, unemployment benefit, sickness and old age. According to Social Security (2011), in that

circumstance arose the program Aid to Families with Dependent Children

(aid to families with dependent children). The measure was financed by contributions from employers and employees as well with funds from the federal budget.  The Social Security Act has undergone several changes over the years but the

most important were those approved by President Lyndon B. Johnson in 1965

that created the two programs, Medicare and Medicaid, which are still active.

According to Social Security Facts (2010), the normal retirement age under Social Security is for the men and women 65-67 years, depending on year of birth. Since 1956 there is a flexible retirement age from 62 years for women and for men since 1961. The majority of citizens today takes the early “retirement money” that is associated with a reduction in the normal retirement pension of about 5-6% per year. The basic claim is based on the contributions and the years. Payments for one year are counted as full when they reach the respective percentage of the income threshold for the year. A minimum contribution period of 5 years effectively is essential, according to AARP- Social Security (2011).

Equality is consistently applied in Social Security. It does not matter who had made contributions to the spouse Social Security. The survivors receive 60% of the amount received by the partners. The survivors must have something not even paid for Social Security that do not have American citizenship. In comparison to the opinion that in the United States there is no need to plan for retirement, my idea stands for the comfort and the confidence of people that their rights will be respected and that they will get all the benefits that are intended for them when they are retired. As following the retirement plan will benefit the society as a whole and will be transparent to others.

In addition, the spouse receives, while the pensioner is still alive, get an amount equal to 50% of the entitlement of the pensioner. This preferential treatment is also provided by the Social Security, according to Social Security Number and Card (2011). It is payable if the beneficiary is over pensionable age and has requested the favor. The beneficiary must not have earned his own claim, nor have the American citizenship. If the spouse because of his own contributions to Social Security has a self-generated claim, he must choose between two claims. A simultaneous use of both services is not acceptable.

Currently, employers and employees each pay 6.2 percent of gross wages of the employee pension fund. On wage income that exceeds the ceiling, no contributions have to be paid. The income threshold is currently set at an annual salary of $ 94,200 (2005: $ 90,000). The current contribution rate has been stable since the end of the eighties. The pension payments shall be made before the third day of each month to the account, which may be executed in any country, maintain contact with the United States. As a fact, a long-term financial stability of the system with the current contribution rates can be achieved is debatable. The Social Security Administration, in its projections, assumes that the trust will be used up funds for the year 2042nd, and other sources estimate that this will happen a little later (Congressional Budget Office). The main reason for the potential financial difficulties of the system is the projected increase in life expectancy of Americans.

All in all, I can say that I disagree with the following statement: In the United States, we do not need to plan for retirement. Social Security will cover our needs when we are retired. I think that there have to be made certain improvements in the social security sphere and people have to get proper benefits from it. Because I think that it is the right of the society.

My thoughts and my opinion considering the social security [The Social Security Act is a U.S. law, signed August 14, 1935]