Employee Benefits in Ireland 2021

Employee Benefits in Ireland 2021

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 pay after the age of 66. A range of state benefits is available for Irish residents, which are subject to several 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.

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

Key Highlights

- The Irish social welfare system is divided into social insurance payments, means-tested payments, and universal payments.
- A persons national insurance contribution is determined based on their income.
- An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to credited contribution.
- In Ireland, employers provide voluntary retirement benefits to their employees through voluntary superannuation contribution.

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, long-term disability benefits, medical benefits, workmens compensation insurance, maternity and paternity benefits, family benefits, unemployment, leaves and holidays and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Ireland

Reasons to Buy

- Make strategic decisions using in-depth information related to employee benefits in the country
- Assess employee benefits of the market, including state and compulsory benefits and private benefits
- Gain insights into the key employee benefit schemes offered by private employers in the country
- Gain insights into key organizations governing employee benefits market, 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 Ireland
5. Regulations
6. State and Compulsory Benefits
6.1 Retirement Benefits
6.2 Death in Service
6.3 Long-Term Disability Benefits
6.4 Short-Term Sickness Benefits
6.5 Medical Benefits
6.6 Workers Compensation insurance
6.7 Maternity and Paternity Benefits
6.8 Other Benefits
7. Private Benefits
7.1 Retirement Benefits
7.2 Death Benefits
7.3 Disability Benefits
7.4 Medical Benefits
7.5 Accidental and Dismemberment Benefits
7.6 Other Benefits
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List Of Tables


Table 1: Insurance Industry Definitions
Table 2: The Ireland - Country Statistics
Table 3: The Ireland - Old-Age Benefits, Average Rate per week, 2020 (who qualified on or after September 1, 2012)
Table 4: The Ireland - Old-Age Benefits, Average Rate per week, 2020 (who qualified on or after September 1, 2012)
Table 5: The Ireland - Old-Age Benefits, Maximum personal weekly rate of payment, 2020 (who qualified before September 1, 2012)
Table 6: The Ireland - Old-Age Benefits, State Pension rates in 2020 (who qualified before September 1, 2012)
Table 7: The Ireland - Child dependent benefits, Weekly rate of payment, 2021
Table 8: The Ireland - Disability Benefits, Maximum rates of Partial Capacity Benefit in 2021
Table 9: The Ireland - Disability Benefits, Carers Allowance rates 2021
Table 10: The Ireland - Disability Benefits, Widows, Widowers or Surviving Civil Partners (Contributory) Pension rates 2021
Table 11: The Ireland - Social Assistance Benefits, Current Pension rates 2021
Table 12: The Ireland - Overall Social Insurance Rates, Employee and Employer Contributions
Table 13: The Ireland - Monthly Child Benefits Paid
Table 14: The Ireland - Basic supplementary welfare allowance
Table 15: The Ireland - Job seekers allowance
Table 16: The Ireland - Leave, Fixed National and Public Holidays 2021

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