Albany, NY -- (SBWIRE) -- 01/21/2015 -- Synopsis

The report provides in-depth industry analysis, information and insights into employee benefits in Hong Kong, including:

* An overview of state and compulsory benefits in Hong Kong
* Detailed information about private benefits in Hong Kong
* Insights into various central institutions responsible for the administration of the different branches of social security
* The regulatory framework of employee benefits in Hong Kong

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Executive summary

Hong Kong's social welfare system provides cover to all residents in the event of disability, old age, death, unemployment and sickness. The public pension pillar covers those individuals in need of assistance. The occupational pillar, which is a compulsory defined-contribution (DC) scheme, was launched in 2000. The third pillar is a voluntary pension savings scheme. Hong Kong's non-contributory social security system, which includes the Comprehensive Social Security Assistance (CSSA) scheme, the Social Security Allowance (SSA) scheme, the Criminal and Law Enforcement Injuries Compensation (CLEIC) scheme, the Traffic Accident Victims Assistance (TAVA) scheme, the Support for Self-Reliance (SFS) scheme and Emergency Relief (ER), is administered by the Social Welfare Department (SWD).

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Scope

This report provides a detailed analysis of employee benefits in Hong Kong:

* It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits.
* It covers an exhaustive list of employee benefits, including retirement benefits, death in service benefits, long-term disability, short-term sickness, medical benefits, workmen's compensation, maternity and paternity benefits, family benefits, unemployment, rest days, holidays and leave, and private benefits.
* It highlights the economic and regulatory situations relating to employee benefits in Hong Kong.

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Reasons to buy

* Make strategic decisions using in-depth information related to employee benefits in Hong Kong.
* Assess Hong Kong's employee benefits market, including state and compulsory benefits and private benefits.
* Gain insights into the key employee benefit schemes offered by private employers in Hong Kong.
* Gain insights into key organizations governing Hong Kong's employee benefits, and their impact on companies.

Key highlights

* The Hong Kong social welfare system covers all residents in the event of disability, old age, death, unemployment and sickness
* The public pension pillar covers individuals in need of assistance. The occupational pillar (Mandatory Provident Fund Scheme, MPF), which is a compulsory DC scheme, was launched in 2000, and the third pillar is a voluntary pension savings scheme
* Private employer-sponsored life insurance, medical and retirement plans have become very popular among employees in Hong Kong due to the growing aging population and increased public awareness
* The government introduced the ORSO to encourage more employees participate in the retirement protection scheme

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Employee Benefits in Colombia

View Full Report at http://www.marketresearchreports.biz/analysis/241528

Synopsis

The report provides in-depth industry analysis, information and insights into employee benefits in Colombia, including:

* An overview of state and compulsory benefits in Colombia
* Detailed information about private benefits in Colombia
* Insights into various central institutions responsible for the administration of the different branches of social security
* The regulatory framework of employee benefits inColombia

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Executive summary

Colombia has a basic social security system with low coverage and participation. The country's social insurance system was initially introduced for public sector employee groups only. Private sector employees secured coverage in 1946. Pension benefits were introduced with the creation of the Social Security Institute (ISS) in 1967. However, the ISS faced problems immediately due to low coverage and participation rates. To overcome this problem, the government created a new social security system through Law 100 of 1993. The law introduced a dual public-private competitive pension system – Régimen de Prima Media or average premium scheme (RPM), and the Régimen de Ahorro individual con Solidaridad, or individual savings system with solidarity (RAIS). In 2012, the administration of RPM was transferred from ISS to Colpensiones, a state-owned financial institution supervised by the Ministry of Labor, due to problems with debt and inefficiency. Private sector employees can choose between RPM and RAIS and have the option to change their membership once every five years. For self-employed and unemployed individuals there is a voluntary regime. Armed forces, police and teachers have their own separate systems.

Employee Benefits in New Zealand

View Full Report at http://www.marketresearchreports.biz/analysis/241530

Synopsis

The report provides in-depth industry analysis, information and insights into employee benefits in New Zealand, including:

* An overview of state and compulsory benefits in New Zealand
* Detailed information about private benefits in New Zealand
* Insights into various central institutions responsible for the administration of the different branches of social security
* The regulatory framework of employee benefits in New Zealand

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Executive summary

New Zealand has a comprehensive social security system, which is largely non-contributory. Neither employers nor employees contribute to social security funds as they are tax financed. However, employees and self-employed persons must make contributions to the Accident Compensation Corporation (ACC) scheme, which provides benefits in the event of an accident, either at work or elsewhere. New Zealand nationals, permanent residents and foreign workers temporarily employed in the country are all covered by social security. Social security benefits in New Zealand are administered by Work and Income New Zealand (WINZ). There is a subsidized retirement savings plan – KiwiSaver – which supplements the country's flat-rate universal pension, known as New Zealand Superannuation. Unemployment and sickness benefits are paid after a minimum period of residence (two years for unemployment benefit), irrespective of employment history. However, the country has reciprocal agreements with certain countries such as Australia, Canada, Denmark and the UK, under which nationals from these countries can apply for social security benefits as soon as they arrive to take up permanent residence. Social security benefits are offered at a flat rate (government transfers), irrespective of previous income. Benefits are subject to taxation, and the Department of Social Welfare deducts the tax before granting benefits.

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