Social Security
The social security system provides a range of targeted support to assist people according to their needs at each stage of their lives. For vulnerable Australians, it provides a safety net for when they are unable to support themselves through work.
A range of payments are available to individuals and families to provide support at times when they cannot support themselves or to assist with certain costs, such as those of raising children.
The 2015 Review of Australia’s Social Support System recommended investing in people early to prevent lifetime disadvantage. Central to this recommendation was the development and implementation of the Australian Priority Investment Approach to Welfare.
Using actuarial modelling and analysis, the Priority Investment Approach assists in identifying vulnerable groups and informs opportunities to provide targeted support at critical points in people’s lives.
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