The main U.S. government program that provides monthly cash benefits to senior citizens is called Social Security.
Program name
Social Security is the federal retirement insurance program that pays monthly cash benefits to eligible older adults, generally beginning as early as age 62. These benefits are funded through payroll taxes paid by workers and employers during a person’s working years.
Related cash assistance
For low-income seniors, there is also a separate federal program called Supplemental Security Income (SSI), which provides additional monthly cash payments to people 65 and older with limited income and resources. SSI is administered by the same agency as Social Security but is a distinct needs- based program rather than an earned insurance benefit.
