Written by Jinky C. Mesias

Social Security is providing each member with individual Social Security Number. The rationale behindrepparttar issuing of Social Security Number is to facilitaterepparttar 150156 processing of claims and benefits. Each Social Security member is provided with a unique number different from everyone else this means no two members would haverepparttar 150157 same number account. The Social Security Number identifiesrepparttar 150158 Social Security Account of each ofrepparttar 150159 member.

Social Security makes use of these accounts in maintaining allrepparttar 150160 records of each of their members. And alsorepparttar 150161 earnings as well asrepparttar 150162 benefits are verified by accounts contained underrepparttar 150163 Social Security records.

The Social Security number is also very useful when applying for a job. Employers make use ofrepparttar 150164 social security numbers of their employees to pay for their contributions. Moreover, Social Security numbers are also used by most financial institutions in recordingrepparttar 150165 amount of interest that Social Security members have earned from them. Evenrepparttar 150166 Internal Revenue makes use ofrepparttar 150167 Social Security Number in determiningrepparttar 150168 amount of tax a Social Security member needs to pay. The members Social Security accounts provide basis for both government as well as private businesses when they are in search for information regarding their employees. Nevertheless, allrepparttar 150169 information contained inrepparttar 150170 Social Security Account of each member is not released without any consent fromrepparttar 150171 concerned member but unlessrepparttar 150172 law permitsrepparttar 150173 discharge of any information then and only then can information be released. All information contained inrepparttar 150174 Social Security memberís accounts is confidential.


Written by Jinky C. Mesias

There are certain bases whichrepparttar Social Security use in order to determinerepparttar 150155 amount of benefits to be released for each of their member. The Social Security Benefit is based on factors such as date of birth of members,repparttar 150156 type of benefit applied for,repparttar 150157 amount of earnings andrepparttar 150158 length of employment. All these factors are considered in determiningrepparttar 150159 Social Security Benefits andrepparttar 150160 Medicare benefits.

Other bases for determining Social Security Benefits arerepparttar 150161 so-called Social Security Credits. As members of Social Security you get credit points for your earnings. $900 in earnings can earn a member one credit. A member hasrepparttar 150162 chance to earn up a maximum of four credits in a year. However,repparttar 150163 amount of earnings needed to obtain one credit is not a constant that is why every year there is an increase forrepparttar 150164 amount of earnings required for one credit. The most number of credits required is forty which is about ten years to accumulate. These credits are needed in order for a member to become eligible for benefits. The disability andrepparttar 150165 survivor benefits usually require a much lower number of credits.

However, extra credits obtained during your working lifetime, does not in any way indicate that members are to receive additional benefits. Nonetheless, an increase in your Social Security contribution may increase your benefits. For those who may have queries and may want to know your detailed estimate of your Social Security Retirement, Disability and Survivorship Benefits you may try to visit or callrepparttar 150166 Social Security Administration. You may be made to fill up a Personal Earnings and Benefit Estimate Statement. This statement is available by completing and submitting a form SSA-7004 torepparttar 150167 Social Security Administration. The Social Security in return would just mail to you your requested statement.

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