Image for Old-Age, Survivors, and Disability Insurance (OASDI)

Old-Age, Survivors, and Disability Insurance (OASDI)

Old-Age, Survivors, and Disability Insurance (OASDI) is a key part of the U.S. Social Security program. It provides financial support to individuals who are retired, have lost a spouse or parent, or are unable to work due to a disability. Funded by payroll taxes, OASDI benefits help ensure that people have a stable income during difficult times, assisting with living expenses. Eligibility and benefit amounts depend on work history and contributions made over a person’s lifetime. Essentially, it serves as a safety net for Americans facing age-related or unforeseen hardships.

Additional Insights

  • Image for Old-Age, Survivors, and Disability Insurance (OASDI)

    Old Age Survivors and Disability Insurance (OASDI) is a federal program in the United States that provides financial support to individuals in three main situations: when they retire (old age), when they become disabled and can't work, and to surviving family members of deceased workers. Funded through payroll taxes, OASDI offers monthly benefits to eligible individuals, ensuring income security during retirement or in times of hardship due to disability or loss of a breadwinner. It's a crucial part of the social safety net, helping millions of Americans maintain their financial stability.