Employee Benefits in Botswana 2020

Employee Benefits in Botswana 2020



The Republic of Botswana has a range of social security programs, which cover the countrys citizens, as well as people belonging to poor and vulnerable groups residing in rural communities. According to the National Policy for Rural Development (Government of Botswana - GoB, 2002), these programs aim to reduce poverty and provide a social safety cover to all Botswanan individuals. These include the Universal Old-age Pension, the Orphan Care Program, the Labor-Based Drought Relief Program, and Supplementary Feeding for Vulnerable Groups, and the Program for Destitute Persons.

The Botswana Federation of Trade Unions (BFTU) is the workers labor federation representing the countrys laborers. In 1997, Botswana published a document now known as Vision 2016, which projects that poverty will be eradicated in the country by 2016. Pensions play a vital role in enhancing the earnings of the countrys workforce after retirement. The government is also focusing on improving the social security framework to prevent people from falling into poverty. Private employers also provide benefits to employees in addition to mandatory employee benefits.

The report provides in-depth industry analysis, information and insights of the employee benefits in Botswana, including: overview of the state and compulsory benefits in Botswana, detailed information about the private benefits in Botswana, 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 Botswana.

Key Highlights

- The Ministry of Labor & Home Affairs (MLHA) is responsible for the functioning of the overall social security system.
- Employee benefits that are required by law are known as state and compulsory benefits.
- Statutory employee benefits offered in the country include old-age and work injury benefits.
- In Botswana, the defined benefit pension schemes are not offered in the country while the defined contribution schemes are prevalent in the country.

Scope

This report provides a detailed analysis of employee benefits in Botswana -
- 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 benefits, leaves and holidays and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Botswana

Reasons to Buy

- Make strategic decisions using in-depth information related to employee benefits in Botswana.
- Assess Botswanas employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Botswana.
- Gain insights into key organizations governing Botswanas 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 BOTSWANA
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 in Service
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 Employee and employer 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 Workmens 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 Family Benefits
6.8.2 Unemployment Benefits
6.8.3 Leave
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 Benefit
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: Botswana - Country Statistics
Table 3: Botswana - Minimum Wage Rates (2019/2020)
Table 4: Botswana -Fixed National and Public Holidays, 2020

List Of Figures

Figure 1: Botswana - Main Institutions of Social Security System

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