FOLIO Ontology

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Contributory Benefit

IRI:
https://folio.openlegalstandard.org/RSfWLD6VgkWm2v5HbRfK70
Preferred Label N/A
Alternative Labels
Contribution-Based Benefit Payroll Tax-Funded Benefit Social Insurance Benefit

Definition

A type of social security benefit funded by contributions from employees, employers, or both, typically through payroll taxes. Eligibility for contributory benefits is usually based on the individual's contribution history and may include benefits such as retirement pensions, disability insurance, and unemployment insurance.

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