OYS gets answers: what happens to your social security contributions if you die prematurely? – Community News
Social Security

OYS gets answers: what happens to your social security contributions if you die prematurely?

Social Security is not a personal retirement account. It’s actually more like insurance. In fact, the official name of Social Security benefits is actually “Old Age, Survival and Disability Insurance.” Over your working life, you (and others) pay into a national pool that provides a measure of financial protection to those who are no longer in work because of their age or condition. When those workers, in turn, retire (or become incapacitated), their benefits are funded by the younger, healthier workers who are still paying in the pool.