Employee Benefits in Ireland

Published: Sep, 2014 | Pages: 62 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in-depth industry analysis, information and insights into employee benefits in Ireland, including:
An overview of state and compulsory benefits in Ireland
Detailed information about private benefits in Ireland
Insights into the various central institutions responsible for the administration of the different branches of social security 
The regulatory framework and recent regulations relating to Irish employee benefits 

Summary
The Irish social security system covers company employees, self-employed persons, the unemployed, people with less than minimum resources and dependent family members of deceased employees. The Irish social welfare system is divided into social insurance payments, means-tested payments and universal payments. The payment of social insurance is mandatory; both employers and employees must contribute pay related social insurance (PRSI) contributions to the national Social Insurance Fund (SIF). Self-employed persons pay Class S social insurance contributions directly to the Revenue Commissioners, although these are not required to after the age of 66. A range of state benefits are available for Irish residents, which are subject to a number of conditions other than social insurance contribution requirements. Companies across the country also provide customized private benefits to their employees as a supplement to state benefits. 
Scope
This report provides a detailed analysis of employee benefits in Ireland:
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 benefits, short-term sickness benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, minimum resources, unemployment and private benefits
It highlights the economic and regulatory situations relating to employee benefits in Ireland 
Reason To Buy
 Make strategic decisions using in-depth information related to Irish employee benefits
Assess the Irish employee benefits market, including state and compulsory benefits and private benefits
Gain insights into the key employee benefit schemes offered by private employers in Ireland
Gain insights into key regulations governing Irish employee benefits, and their impact on companies 
Key Highlights
 The Ireland social security system covers a large proportion of the population, and plays a significant role in the country's employee benefits market
The social security system consists of eleven branches, which form the pillars of the social security system 
The main state and compulsory benefits in force in Ireland include: old age, survivor's and disability pension; unemployment benefits; short-term sickness benefits; workmen's compensation insurance; insurance for occupational diseases; long-term care insurance; family benefits; maternity benefits; compulsory insurance for medical care and benefits; and minimum resource benefits.
Both social security and private employee benefits are popular in ireland
Private benefits provide access to a range of services that improve employees' quality of life

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
3 Country Statistics
4 Overview of Employee Benefits in Ireland
5 Regulations
6 State and Compulsory Benefits
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of retirement plans
6.1.3 Eligibility
6.1.4 Age
6.1.5 Pensioble salary
6.1.6 Benefits
6.1.7 Payment option
6.1.8 Typical employer practice
6.1.9 Employee and employer contribution
6.1.10 Taxation
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment options
6.2.5 Typical employer practice
6.2.6 Employee and employer contribution
6.2.7 Taxation
6.3 Long-term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment options
6.3.5 Typical employer practice
6.3.6 Employee and employer contribution
6.3.7 Taxation
6.4 Short-term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment options
6.4.5 Typical employer practice
6.4.6 Employee and employer contribution
6.4.7 Taxation
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment options
6.5.5 Typical employer practice
6.5.6 Employee and employer contribution
6.5.7 Taxation
6.6 Workmen's Compensation 
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment options
6.6.5 Employee and employer contribution
6.6.6 Taxation
6.7 Maternity and Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment options
6.7.5 Employee and employer contributions
6.7.6 Taxation
6.8 Family Benefits
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment options
6.8.5 Employee and employer contribution
6.8.6 Taxation
6.9 Unemployment Benefits
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment options
6.9.5 Employee and employer contribution
6.9.6 Taxation
6.1 Minimum Resources
6.10.1 Introduction
6.10.2 Eligibility
6.10.3 Benefits
6.10.4 Payment options
6.10.5 Employee and employer contribution
6.10.6 Taxation
6.11 Long-term Care Insurance
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Payment options
6.11.5 Employee and employer contribution
6.11.6 Taxation
6.12 Treatment Benefits
6.13 Social Assistance Benefits
7 Private Benefits
7.1 Retirement Benefits
7.2 Disability and Sickness Benefits
7.3 Death in Service
7.4 Medical Benefits
7.5 Other Benefits
8 Macroeconomic Indicators
8.1 Economic Performance
8.1.1 GDP at constant prices (US dollars)
8.1.2 GDP per capita at constant prices (US dollars)
8.1.3 GDP at current prices (US dollars)
8.1.4 GDP per capita at current prices (US dollars)
8.1.5 GDP by key sectors
8.1.6 Inflation rate
8.1.7 Annual average exchange rate US$-EUR
8.1.8 Unemployment rate
8.1.9 Household consumption expenditure
8.1.10 Gross tiol disposable income
8.2 Demographics
8.2.1 Total population
8.2.2 Labor force
8.2.3 Urban and rural population
9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer


List of Tables
Table 1: Definitions
Table 2: Ireland - Country Statistics
Table 3: Ireland - Recent Amendments to Regulations
Table 4: Irish Overall Social Insurance Rates - Employee and Employer Contributions
Table 5: Irish Monthly Child Benefits Paid in 2014
Table 6: Irish Treatment Benefits
Table 7: Irish Maximum Member's Pension at Retirement Age