Social Security RSDI offers one of the biggest government benefit program that provides financial assistance for qualified members. It caters to people who are qualified for retirement and disability. It also provides assistance to family members who lost their loved ones.
RSDI members must be fully insured before qualifying for this program. This consists of number of contributions from monthly income as a worker. The evaluation is based on the worker's age and type of benefit that he or she is availing.
Workers who qualify for RSDI usually pay for social security taxes. These include Self-Employment Contributions Act and Federal Insurance Contributions Act.
The Social Security RSDI has the following benefits:
A person who reached 62 years of age and above is considered for this type of benefit, if he or she meets the following qualifications:
1. Have rendered the required number of contributions
3. Has applied for Disability benefit conversion to Full Retirement
This benefit provides financial assistance to family members who have a deceased fully-insured social security loved one. The deceased member should have rendered ten years of service or equivalent contribution. Among those who are eligible to receive the payment are:
1. Widow- The legal husband or wife can claim the benefit at full retirement age.
2. Disabled widow- The legal husband or wife who is disabled can receive full benefits
at age 50.
3. Widow who has a 16-year-old child
4. Children who are 18-19 years old, and are studying high school
5. Special consideration for stepchildren, adopted children, and grandchildren.
6. Disabled children less than 22 years of age.
This type of insurance provides financial assistance for qualified disabled member. "Disabled" means limitation in execution of one major function in life. It can be difficulty or in seeing, hearing, or speaking.
The qualifications for Disability insurance are:
1. Physical or mental difficulty in involving with significant activity.
2. The medical condition will last up to one year.
3. He or she is under 65 years of age
4. Has at least rendered 5 years of work service when the disability begins.
FAQs on Retirement, Survivors, and Disability Insurance Benefits
Q: How does retirement, survivors, and disability insurance benefits can be received?
A: After submitting an application for such benefit, the agency will evaluate the claim, and will inform you on the amount that you can receive.
Q: Are Social Security benefits being taxed?
A: Yes, if you have additional income other than your Social Security benefits.
Q: How to determine the amount of tax in Social Security benefit?
A: Check the sent Form 1042S (Social Security Benefit Statement).