Social Welfare System

What is a 'Social Welfare System '

A social welfare system is a program that provides assistance to needy individuals and families. The types and amount of welfare available to individuals and families vary for country, state or region. In the United States, the federal government provides grants to each state through the Temporary Assistance for Needy Families (TANF) program.

BREAKING DOWN 'Social Welfare System '

Welfare provides assistance to individuals and families through programs such as health care, food stamps, unemployment compensation, housing assistance and child care assistance. In the United States, a case worker is assigned to each individual or family applying for benefits to determine and confirm the applicant's needs.

  1. Welfare Economics

    A branch of economics that focuses on the optimal allocation ...
  2. Welfare Capitalism

    Definition of welfare capitalism.
  3. Welfare

    A government program which provides financial aid to individuals ...
  4. Welfare State

  5. National Welfare Fund (Russia)

    One of two parts of the Russian sovereign wealth fund, the other ...
  6. Trade Adjustment Assistance - TAA

    An unemployment assistance program offered in the United States ...
Related Articles
  1. Economics

    3 Ways To Cheat Government Assistance Programs

  2. Your Practice

    How Advisors Can Appeal to Nontraditional Families

    So-called traditional families represent less than 20% of U.S. households today. Here's how advisors can adjust.
  3. Investing

    Family Philanthropy: Developing a Cohesive Strategy

    Devising a cohesive family philanthropy strategy requires proper goal alignment, planning, management, procedural rules and constant evaluation.
  4. Investing

    Has Nepotism Ever Worked?

  5. Personal Finance

    Help! My Unemployment Benefits Are Running Out

    Don't wait for your unemployment insurance to expire before planning what to do if you haven't found a new job yet.
  6. Retirement

    Americans Are Living Longer, but Social Security Is Not Catching Up

    Find out how Social Security really works, why the system is in trouble and whether retirees are simply living too long for Social Security to remain viable.
  7. Investing

    Virtual Assistant

  8. Personal Finance

    How Minimum Wage Impacts Unemployment

  9. Retirement

    Programs That Give Cash-Strapped Seniors a Lift

    Dozens of federal and state programs can help seniors who are struggling to pay their bills on a fixed income to better afford their most basic needs.
  10. Financial Advisors

    Succession Tips for Advising Family Businesses

    While family businesses present great opportunity for financial advisors, advising them goes well beyond managing assets under management.
  1. Is Social Security considered to be welfare?

    Learn why Social Security is an entitlement, not welfare. Since 1940, Social Security has kept its promise to Americans who ... Read Answer >>

  3. Why are economists interested in the consumer surplus?

    Understand why an economist would be interested in consumer surplus. Learn why an economy would want to maximize consumer ... Read Answer >>
  4. What is the Social Security administration responsible for?

  5. How does a provident fund compare to U.S. Social Security?

    Find out how provident funds compare to the U.S. Social Security program, including examples of income limits and contribution ... Read Answer >>
  6. Is there any way to opt out of paying Social Security?

Hot Definitions
  1. Yield Curve

  2. Stop-Limit Order

  3. Keynesian Economics

  4. Society for Worldwide Interbank Financial Telecommunications ...

  5. Generally Accepted Accounting Principles - GAAP

  6. DuPont Analysis

Trading Center