samfélagsöryggi
Samfélagsöryggi, often translated as social security or social safety net, refers to the measures and systems in place within a society to protect its citizens from various risks and ensure a minimum standard of living. These systems typically aim to provide assistance to individuals and families facing economic hardship, unemployment, illness, disability, old age, or other life events that can lead to vulnerability.
The concept encompasses a range of provisions, which can include direct financial support through pensions, unemployment
The underlying principle is that a functioning society has a collective responsibility to support its members