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At the outset of the Civil War the General Law pension system was established by congress for both volunteer and conscripted soldiers fighting in the Union Army. [4] Payouts derived from this plan were based on degree of injury and subject to review by government boards. By 1890, general old-age pensions were incorporated for Union veterans. [5]
Social Security (United States) In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). [ 1 ] The Social Security Act was passed in 1935, [ 2 ] and the existing version of the Act, as amended, [ 3 ...
The Old Age Pensions Act 1908 (8 Edw. 7. c. 40) is an act of Parliament of the United Kingdom of Great Britain and Ireland, passed in 1908. The act is one of the foundations of modern social welfare in both the present-day United Kingdom and the Irish Republic and forms part of the wider social welfare reforms of the Liberal government of 1906 ...
Francis Everett Townsend (/ ˈtaʊnzənd /; January 13, 1867 – September 1, 1960) was an American physician and political activist in California. In 1933, he devised an old-age pension scheme to help alleviate the Great Depression. Known as the "Townsend Plan", this proposal would pay every person over age 60 $200 per month, with the ...
As part of Otto von Bismarck's social legislation, the Old Age and Disability Insurance Bill was enacted and implemented in 1889. [39] The Old Age Pension program, financed by a tax on workers, was originally designed to provide a pension annuity for workers who reached the age of 70 years, though this was lowered to 65 years in 1916.
The Townsend Plan, officially the Old-Age Revolving Pensions (OARP) plan, was a September 1933 proposal by California physician Francis Townsend for an old-age pension in response to the Great Depression, leading to a social and political movement. At its peak, the OARP advocacy group claimed more than 750,000 members. [ 1 ]
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