Old Age Survivors Insurance

Old Age Survivors Insurance (OASI), part of Social Security, provides financial support to retirees and their families, including surviving spouses and children of deceased workers. Funded through payroll taxes, it ensures a steady income for eligible individuals after retirement or in case of a worker’s death. The program aims to help maintain financial stability and dignity for seniors and their loved ones, based on their prior earnings and work history. It is a social safety net designed to reduce poverty among the elderly and survivors.