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Tell me about social insurance & Oldage Pension Act..

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Posted: Fri Mar 14, 2008 8:39 am   Post subject: Tell me about social insurance & Oldage Pension Act..   Is social insurance kinda unemployment insurance? Has it got nything to do with Old Age Pension Act? Someone please answer.. _________________ Register Now to have your Insurance queries solved.	Plasticmind Guest
Posted: Fri Mar 14, 2008 9:14 am   Post subject: A brief about Social Insurance   No Dear- actually it is the other way round. Unemployment insurance is rather a kind of Social insurance. Social insurance may be offered in terms of the following programs- Social Security, railroad retirement policy, unemployment insurance, PBGC & Medical Care Social insurance is governed by the state laws. It is applicable to a certain volume of population. It is reimbursed from the money collected in terms of the premium-collections or accumulation of taxes from the applicants. Participation at such a program is sometimes mandatory or may come in form of a subsidized pack that is easily available for all. LuvieduvieW _________________ Register Now to have your Insurance queries solved.	LuvieduvieW Guest
Posted: Fri Mar 14, 2008 9:28 am   Post subject: OaP Act   Hi! The Old age Pension Act that you stating about is nothing but the same old Social security act. The outcome of such an act is a lump-sum money aimed at helping the retirees & unemployed section of the population. Well, this moneys gotta come as a death-benefit. A payroll tax applied on the current workmen's wages is responsible towards funding the payments in connection with this act. While half of it is adjusted in the form of the said tax, the other half gets paid by the beneficiary's employer. Thats all about it! Melanie_Garner _________________ Register Now to have your Insurance queries solved.	Melanie_Garner Guest
Posted: Fri Mar 14, 2008 9:52 am   Post subject: Unemployment benefits   Quote: Unemployment insurance is rather a kind of Social insurance. Truly! This is actually referring to some benefits which are being offered by the govt. to the unemployed group of our society. It is somewhat based on a mandatory para-governmental insurance protocol. The benefits are distributed according to individual state laws as also the status of the beneficiary. The amount of benefit may vary from a stipulated small figure (one that supports his basic livelihood) to any such figure that suffices for his lost wages. HansPeterBreigel _________________ Register Now to have your Insurance queries solved.	HansPeterBreigel Guest

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