Employee Benefits in Latvia 2021

Employee Benefits in Latvia 2021

Summary

The social security system in Latvia is classified into three categories: state social insurance, social assistance, and the social service system. The state social insurance system covers legislation on social insurance, maternity and sickness insurance, state pensions, mandatory social insurance against accidents, and insurance against unemployment. Social assistance and the social service system are regulated by the Law on State Social Benefits and Law on Social Services and Social Assistance. The Latvian pension system is divided into three pillars: the first is a notional defined-contribution (DC) system which works on a pay-as-you-go (PAYG) basis, the second is a funded mandatory pillar, and the third is a voluntary private occupational and individual pension system. The reformation of pensions began in Latvia in 1991, and it was the first Central and Eastern European country to restructure the first pillar of its pension system.

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

Key Highlights

- Ministry of Social Welfare State and Social Insurance Agency are responsible for administering all state social benefits and social insurance services such as sickness, unemployment, parental, maternity, old-age, survivors, invalidity, employment injuries, and occupational diseases
- Ministry of Health is responsible for the overall organization and functioning of the health system, and the implementation of national health policy.
- Social assistance and the social service system cover benefits related to family and childcare, which come under the Law on State Social Benefits and the Law on Social Services and Social Assistance.
- In Latvia, voluntary private pension schemes in the form of pension funds and pension insurance based on DC plans are offered by employers.

Scope

This report provides a detailed analysis of employee benefits in Latvia -
- 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 Latvia

Reasons to Buy

- Make strategic decisions using in-depth information related to employee benefits in Latvia.
- Assess Latvias employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Latvia.
- Gain insights into key organizations governing Latvias 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 Latvia
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 Medical Benefits
7.4 Disability Benefits
7.5 Accidental and Dismemberment Benefits
7.6 Other Benefits
About GlobalData
Contact Us

List Of Tables


Table 1: Insurance Industry Definitions
Table 2: Latvia - Country Statistics
Table 3: Latvia - Workers Compensation, Permanent Incapacity Monthly Benefits
Table 4: Latvia - Monthly Child Raising Allowance
Table 5: Latvia - Family Benefits - Supplementary Child Raising Allowance
Table 6: Latvia - Unemployment Benefits, Rates of Benefits
Table 7: Latvia - Fixed National and Public Holidays 2021

List Of Figures


Figure 1: Latvia - 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