Social insurance  

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Social insurance is any government-sponsored program with the following four characteristics:

  • the benefits, eligibility requirements and other aspects of the program are defined by statute;
  • explicit provision is made to account for the income and expenses (often through a trust fund);
  • it is funded by taxes or premiums paid by (or on behalf of) participants (but additional sources of funding may be provided as well); and
  • the program serves a defined population, and participation is either compulsory or so heavily subsidized that most eligible individuals choose to participate.

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Unless indicated otherwise, the text in this article is either based on Wikipedia article "Social insurance" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on research by Jahsonic and friends. See Art and Popular Culture's copyright notice.

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