What was a purpose of the Social Security Act of 1935?

On August 14th, 1935, the Social Security Act established a system of old-age benefits for workers, benefits for victims of industrial accidents, unemployment insurance, aid for dependent mothers and children, the blind, and the physically handicapped.

It was to pay financial benefits to retirees over age 65 based on lifetime payroll tax contributions. Was an act to provide the general welfare by establishing a system of Federal old age benefits and by enabling the several states to make more adequate provision for aged persons, blind persons, dependent and crippled, maternal an child welfare, public health, and physical handicapped.