Franklin Roosevelt's Pension Strategy: 90-years of the Government Program

The article reviews the transformation of the United States social security system, highlighting the evolution of the approaches to solving pension security problems in view of demographic and financial challenges. The problems of the growing outlays, exceeding payroll taxes in the third decade; the perspectives of the Social Security retirement benefits are in focus. Social security remains an important source of actual and expected income for Americans not only in the period of retirement. The Old Age, Survivors, and Disability Insurance program – providing benefits to retired, their spouses, dependents, survivors; persons with disabilities – has become essential for them, being an important source of their income. The Old Age, Survivors, and Disability Insurance program has become an important factor in the process of decreasing poverty. At the same time, it is pointed out that United States government policy has become an important factor of the retirement income sources' diversification, providing special measures for increasing the availability and motivation of pension accounts.

pension system, United States, F. Roosevelt, payroll tax