Question

Explain two essential features of social security.

Answer 1

1. Social security is a measure of ensuring social justice.
2. It is essential to public policy in a welfare state like India.
3. Social security is a dynamic concept. Its contents change with the social and economic conditions obtained in a particular country at a given point in time.
4. The basic purpose of social security is to protect people of small means from the risks of contingencies.
5. These contingencies include sickness, maternity, old age, invalidity, unemployment, death, etc., which impair a person's ability to support himself and his family.
6. Social security measures are generally prescribed by law.
7. These measures provide for cash payments to affected persons to partly compensate for the loss of income due to certain contingencies.
8. Social security is essential for the protection and stability of the labour force.