Individual Equity versus Social Adequacy in Federal Old-Age Insurance
Bibliographic Data
| ID | 10547577 |
|---|---|
| Authors | Martha N Ozawa (corresponding author) |
| Year | 1974 |
| Volume | 48 |
| Issue | 1 |
| Pages | 24-38 |
| Publication date | 1974-03-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Social Service Review (JOURNAL) |
| Journal identifiers | ISSN: 0037-7961 • E-ISSN: 1537-5404 |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/643081 |
| OpenAlex | W2020576719 |
| Language | EN |
| Citations received | 6 |
| References cited | 1 |
Federal old-age insurance, a form of social insurance, is an attempt to simultaneously implement two principles: individual equity and social adequacy. In this paper, traditionally accepted definitions of these two concepts are reexamined, and they are quantified by using hypothetical cases of retired workers with varying contribution records. The conclusion is that the old-age insurance program is implementing not only individual equity but also social adequacy for all retired workers and that the degree of social adequacy is greater for the high-wage earner than for the low-wage earner. As a policy implication, it is suggested that social adequacy be equalized in order to make possible a higher minimum benefit
Actuarial science · Business · Demographic economics · Economics · Equity (law · Labour economics · Political science · Public economics · Social equality · Social insurance · Wage · Financial Literacy, Pension, Retirement Analysis · Gender, Labor, and Family Dynamics · Law · Retirement, Disability, and Employment
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Money's worth in social security benefits
Economic Class and Redistribution of Income Through Spousal Benefits Under Social Security
Unequal treatment of AFDC children by the federal government
Issues in Welfare Reform
| Citations per year | 0.13 |
|---|---|
| Citation span | 1978 - 2001 (24) |
| Highly cited | No |