Social Security Compensatory Payments and the Compensation Function of Social Security Law: Problems of Theory

Social security law has a fairly wide list of payments characterized  in the current legislation as compensation payments. A feature of compensativeness is manifested in pension provision, in various types of benefits, and in various kinds of social security insurance payments. In addition, social security law provides for payments that are directly referred to as “compensation payments”. This causes difficulty both in the formulation of definitions of the concepts of each category of payment, and in the practical application of social security legislation. The situation is aggravated by the fact that compensation is also characteristic of payments of other legal affiliation. Based on this, the study of socio-security monetary representations in order to identify distinctive features of the compensatory property is relevant. It should be noted that within the framework of the paper, a function is considered as an essential property of a certain legal phenomenon. Therefore, the function as a property is inextricably linked with the legal phenomenon. Accordingly, if we are talking about the compensatory function of social security law, then it should be taken into account that the mechanism of compensativeness should be incorporated into the procedure for calculating compensation payments.

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