Figure 1: Social Security Statement Setup

Social Security Statement Management produces an advanced and highly configurable periodic individual social security statement. The content and design of the Social Security Statement is fully configurable so that it reflects the regulatory framework for social security in the country. Depending on the configuration, the statement can consist of four blocks, whereby the first block shows the individual’s demographic data, the second block gives the estimated benefits based on the contributions and credits earned to date, the third block displays the individual’s estimated retirement benefit amount earned so far and the fourth block shows all the individual’s earnings, contributions and earned credits. Each block can contain detailed explanations on policies and calculations for the items that are displayed in the block. All statements are dynamic and reflect live data for only those benefits relevant for the individual. Social Security Statements can be e-mailed or made available to individuals through the e-Services portal.

• Fully Configurable Statement Explanatory Text
• Fully Configurable Statement Calculations
• Statement Available in e-Services
• Statement Available for e-Mailing or Printing
• Block Based Framework
• Block 1: Demographics and Explanations
• Block 2: Estimated Benefits and Explanations
• Block 3: Estimated Retirement Benefits
• Block 4: Earnings Record

Figure 2: Social Security Statement – Earning Record Configuration

Overview

Social Security Statement is a Periodic Statement that is sent to any individual registered with the Social Security Administration and who is contributing to Social Security Benefits. It is used to provide the individual with his/her earnings, contributions, credit earned, and benefits entitlement during the year and year to date and the totals. The Social Security Statement is produced annually. The format and contents of the Social Security Statement vary from country to country. However, the Social Security Statement generally includes:

1. – Individual Name
2. – Social Security Number
3. – Address
4. – Statement Date
5. – Earnings Year
6. – Year Contributions
7. – Year Credit Earned
8. – Year to Date Earnings
9. – Year to Date Contributions
10. – Year to Date Credit Earned
11. – Total Earnings to Date
12. – Total Contributions to Date
13. – Total Credit Earned to Date
14. – Entitlements – This is a frame that shows what the individual is entitled for based on his/her Credit Earned:
    1. Benefit-1 Required Credits: XX Credit Earned: YY
    2. Benefit-2 Required Credits: XX Credit Earned: YY
    3. Benefit-3 Required Credits: XX Credit Earned: YY
15. – Retirement Benefit – This shows when the Individual Minimum Age of Retirement and when
    he/she is eligible for retirement based on his/her date of birth and include:
16. – Minimum Age of Retirement known as Early Retirement
17. – Normal Retirement Age
18. – Late Retirement Age
19. – Individual Date of Birth
20. – Individual Age
21. – Date Individual Qualifies for Early Retirement
22. – Based on Credit Earned if the Individual takes Early Retirement, he/she will Receive $ XXX.XX per month
23. – Date Individual Qualifies for Normal Retirement
24. – Based on Credit Earned if the Individual takes Normal Retirement, he/she will Receive the following $ XXX.XX per month
25. – Based on Credit Earned if the Individual takes Late Retirement, he/she will Receive the following $ XXX.XX per month

Note that all entitlements for Benefit are defined in the Benefit Entitlement Policy. The Retirement Benefit is tagged as “Retirement” using a flag in the Benefit Policy. The calculation of the Retirement Amount Entitlement is defined in the Benefit Entitlement Policy as well as the variables including Early Retirement Age, Normal Retirement Age, and Late Retirement Age. See attached sample of Social Security Statement of the US Social Security Administration.

Framework

Social Security Statement framework shown in figure-1 does not update any data, but read existing data already calculated and populated by other SSA processes including Contribution Filing and Contribution Payments and Credit Earned. It uses the Social Security Statement setup and the system policies to generate the Social Security Statement.

Figure-1: Social Security Statement Framework

The generated Social Security Statement can be delivered through eServices including individual, employee, and beneficiary self-service. However, many countries still use the mail system where the Social Security Statements are printed and sent through the post office (mail).

Structure and Format

The structure of the Social Security Statement consists of three (3) Blocks as whown in Figure-2 below. Each block is used to display specific information. Each block can be one or more pages. Each block has fixed informatio text defined in the setup and variable information/data read from the database or calculated based on the predefined policies.

Figure-2: Social Security Statement Structure and Format

Block-1 – Used display Individual Demographic Data such as Individual Name, Social Security Number, Date of Birth, Address, Statement Number, Statement Date, and Introduction Text.

Block-2 – Used to Display the Estimated Benefits based on the Benefits Entitlements, and Contributions and Credit Earned to Date, and the Text Explaining how the Estimated Benefits are calculated.

Block-3 – Used to Display the Estimated Retirement based on the Benefits Entitlements, and Contributions and Credit Earned to Date, and the Text Explaining how the Estimated Retirementis calculated.

Block-4 – Used to Display the Earning Record of the Individual including:

1. – Year
2. – Year Earning
3. – Year Employer Contribution
4. – Year Employee Contribution
5. – Year Total Contribution
6. – Year Credit Earned