Instead, the majority of people are finding other ways of living
apart from social security because the situation is not altered to a
great extent by the social security system. Critics argue that social
security aims at providing security for the future while majority of
people have a dark present. This segment of the society wishes to have
a better present than a fictional bright future.
There are several factors that affect the social security benefits that
are available to individuals including the current inflation level,
retirement age, average income level during the working period and
above all the age of the individual.
People tend to rely less on the
social security that is prone to amendments quite often creating a
situation of uncertainty in their minds.
The working group of individuals tend to underestimate their life
expectancy level and in the process the number of years they would
spend living off their retirement investments. Social security offers a
tax advantage but that again gets waived off on any withdrawals made by
the investors from their respective pension funds.
It cannot however be denied that social security reforms have opened
doors to new perspectives and ideas for the generations to come.
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