Up in Smoke: What's the Score When It Comes to Smokeless Pensions?
- by Rotten Tom Ripper
- 3 Mins
If one has never worked or contributed to social security, the pension amount they receive. - Neglecting work commitments or failing to meet pension obligations may lead to such consequences.
Let's get straight to the point: If you've been living a life of leisure, lounging around without the hustle and grind of a daily job, don't expect a golden ticket in the form of a pension.
However, there's a silver lining for you ol' dog who's been fathering and caring for a brood. You might just have a shot at that sweet, hard-earned retirement check. Read on, sweetheart.
- Pension
- Basic Security
- Retirement Provision
- Pension Claim
While the pension world isn't exactly known for its generosity to the jobless moochers, there's a teeny, tiny exception for those parenting champions who have birthed and raised more than one child. They can snag a legit pension claim 'cause even the cold-hearted pension insurance recognizes child-rearing as a vital form of work. More on that juicy bit down below.
Now, most pension systems won't just hand over a fat check to every parent who has given life to more than one offspring. But fear not, there are a few bones they're willing to throw your way:
- Social Security Benefits:
- In the land of the free and home of the brave, Social Security benefits for spawn are based on the ol' man's work record. Typically, benefits for kids go poof once they hit the age of 18, but if one of your little devils is disabled before they've even hit 22, they might get a slice of that DAC action — a cool 50% of the ole' man's full retirement benefit[5].
- The total family handout is capped at between 150% and 180% of the worker's full retirement benefit, depending on the number of eligible beneficiaries[5].
- State or Employer-Specific Pensions:
- A few states or employers might dish out benefits related to family size, but they're not exactly doling out the dough for caring for your litter like a loving mama bear.
- Other Goodies:
- Dependency and Indemnity Compensation (DIC) for Surviving Spouses of Veterans: This includes additional bill-paying goodness for dependent children under 18, not strictly related to the number of children you've birthed and raised, but still relevant to the wolves currently protecting our borders[3].
In short, the pension you can claim specifically for rearing more than one child ain't exactly the norm in most pension systems. Benefits are usually tied to your job history, disability status, or specific family shenanigans. But hey, it's worth giving it a shot, right? Play 'em dirty, and may the odds ever be in your favor.
- In some communities, there exists a policy that acknowledges the value of vocational training for parents who have raised more than one child, offering them a chance to make a pension claim, given child-rearing is recognized as a form of vocational training.
- To supplement personal-finance during retirement, individuals might consider exploring social security benefits, state or employer-specific pensions, or additional benefits such as the Dependency and Indemnity Compensation (DIC) for surviving spouses of veterans, all of which can provide financial support, especially for those who have raised more than one child.