Employee Benefits in the Philippines 2019

Employee Benefits in the Philippines 2019



The Philippines is seen as one of Asias most socially progressive countries, because of its commitment to providing citizens with secured livelihoods; the Philippine constitution guarantees individuals complete social, economic and cultural rights. Female employees and the primary labor force are granted special rights. However, the country has a long way to go in terms of providing full social entitlement to all citizens. Furthermore, distribution of benefits is unbalanced, and only a small proportion of the population benefits.

The report provides in-depth industry analysis, information and insights of the employee benefits in Philippines, including: overview of the state and compulsory benefits in Philippines, detailed information about the private benefits in Philippines, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Philippines.

Key Highlights

- The Philippine social security system covers old age, disability, death, sickness and maternity.
- Private employees are covered under the state-run pension fund, the Social Security System (SSS), while public sector employees and military personnel are covered by the Government Service Insurance Scheme (GSIS).
- Social welfare schemes are coordinated by the Department of Social Welfare and Development (DSWD).
- Labor market intervention is coordinated by the Department of Labor and Employment (DOLE).

Scope

This report provides a detailed analysis of employee benefits in Philippines -
- 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, long-term disability benefits, medical benefits, workmens compensation insurance, maternity and paternity benefits, family benefits, unemployment, leave and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Philippines

Reasons to buy

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

1 EXECUTIVE SUMMARY
2 INTRODUCTION
2.1 What is this Report About?
2.2 Definitions
3 COUNTRY STATISTICS
4 OVERVIEW OF EMPLOYEE BENEFITS IN THE PHILIPPINES
5 REGULATIONS
6 STATE AND COMPULSORY BENEFITS
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Eligibility
6.1.3 Benefits
6.1.4 Payment options
6.1.5 Contributions
6.2 Death Benefits
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment options
6.2.5 Contributions
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 Contributions
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 Contributions
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment options
6.5.5 Contributions
6.6 Workers Compensation Insurance
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment options
6.6.5 Contributions
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 Contributions
6.8 Other Benefits
6.8.1 Unemployment benefits
6.8.2 Leaves and Holidays
6.8.3 Consolidated Loans
6.8.4 Emergency Loans
7 PRIVATE BENEFITS
7.1 Retirement Benefits
7.2 Death Benefits
7.3 Disability Benefits
7.4 Medical Benefits
7.5 Accidental Death and Dismemberment Benefits
8 APPENDIX
8.1 Methodology
8.2 Contact GlobalData
8.3 About GlobalData
8.4 GlobalDatas Services
8.5 Disclaimer

List Of Tables


Table 1: Insurance Industry Definitions
Table 2: The Philippines - Country Statistics
Table 3: Philippine Retirement Benefits - SSS Scheme Contribution Rates
Table 4: Philippine Medical Benefits - Contribution Rates
Table 5: Philippine Workers Compensation - Payment Options Under ECP
Table 6: Philippine Work Injury Benefits - Employer Contribution Rates
Table 7: Philippine Unemployment Benefits - Duration of Benefits
Table 8: Philippine Separation Benefits - Duration of Benefits
Table 9: The Philippines - Regular Holidays 2019
Table 10: The Philippines - Special Holidays 2019
Table 11: Philippine Consolidated Loans - Calculation of Loan Amounts

List Of Figures


Figure 1: Philippines - Main Institutions of Social Security System

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