Employee Benefits in Kenya 2020

Employee Benefits in Kenya 2020



Kenyas social security system is considered important for the security of workers, their families, and the community. The Kenyan social security system is divided into three pillars - a public scheme, occupational schemes, and individual schemes. The Kenyan social security system provides compulsory benefits such as old-age, disability, sickness, death, maternity, work injury, unemployment, and medical care, for different groups of individuals such as children, employed, unemployed, retired, or elderly individuals. In Kenya, employers provide supplementary retirement plans to their employees under Pillar II. The supplementary retirement plans can be DB or DC schemes. Employers create and operate an occupational pension fund or may contribute to a pension plan registered with the Retirement Benefits Authority (RBA).

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

Key Highlights

- The National Social Security Fund Act of 2013 is responsible for the functioning of the overall social security system.
- Kenyas social security system is considered important for the security of workers, their families, and the community as a whole.
- In Kenya, employers provide supplementary retirement plans to their employees under Pillar II.
- The supplementary retirement plans can be DB or DC schemes. Employers create and operate an occupational pension fund or may contribute to a pension plan registered with the Retirement Benefits Authority (RBA).

Scope

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

Reasons to Buy

- Make strategic decisions using in-depth information related to employee benefits in Kenya.
- Assess Kenyas employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Kenya.
- Gain insights into key organizations governing Kenyas 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 KENYA
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 Contributions
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment of Options
6.5.5 Contribution
6.6 Workmens Compensation Insurance
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment Option
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
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: Kenya - Country Statistics
Table 3: Kenya - Retirement Benefits, Contribution Rates
Table 4: Kenya - Retirement Benefits, Tier One and Tier Two Contribution Rates
Table 5: Kenya - Short-term Sickness Benefits, Contribution Rates
Table 6: Kenya - Medical Benefits, Co-payment
Table 7: Kenya - Medical Benefits, Contribution Rates
Table 8: Kenya - Maternity and Paternity Benefits, Contribution Rates
Table 9: Kenya - Public Holidays, 2020

List Of Figures


Figure 1: Kenya - Main Institutions of Social Security System

Employee Benefits in the United Arab Emirates (UAE) 2021

Employee Benefits in the United Arab Emirates (UAE) 2021The United Arab Emirates (UAE) has undergone a huge transformation following the discovery of oil in the 1950s, going from a poor

USD 1495 View Report

Employee Benefits in Argentina 2021

Employee Benefits in Argentina 2021The development of Argentine social security programs and policies started in the early 20th century. At present, the system has numerous policies and programs, including compulsory

USD 1495 View Report

Employee Benefits in the United Arab Emirates (UAE) 2021

Employee Benefits in the United Arab Emirates (UAE) 2021The United Arab Emirates (UAE) has undergone a huge transformation following the discovery of oil in the 1950s, going from a poor

USD 1495 View Report

Employee Benefits in Argentina 2021

Employee Benefits in Argentina 2021The development of Argentine social security programs and policies started in the early 20th century. At present, the system has numerous policies and programs, including compulsory

USD 1495 View Report

Fill The Form For Sample Request

Note : * Kindly provide us with your company id and get the sample reports at the earliest.

There is no Reviews available