Employee Benefits in Canada 2025
Description
Employee Benefits in Canada 2025
Summary
The report provides in-depth industry analysis, information, and insights of the employee benefits in Canada, including an overview of the state and compulsory benefits in Canada, detailed information about the private benefits in Canada, 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 Canada.
The Canadian social security system covers various programs, many of which are run by the country’s provinces and territories. In general, benefits are similar across all provinces and territories; however, Quebec implements its pension plan. The government provides financial support to provincial and territorial governments through four main transfer programs – the Canada Health Transfer (CHT), the Canada Social Transfer (CST), and Equalization and Territorial Formula Financing (TFF)–to help them provide social programs and services to citizens. Private employee benefits are gaining popularity, and many companies offer private benefit plans for employees to supplement the government-sponsored hospital and medical plans.
Key Highlights
This report provides a detailed analysis of employee benefits in Canada
Summary
The report provides in-depth industry analysis, information, and insights of the employee benefits in Canada, including an overview of the state and compulsory benefits in Canada, detailed information about the private benefits in Canada, 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 Canada.
The Canadian social security system covers various programs, many of which are run by the country’s provinces and territories. In general, benefits are similar across all provinces and territories; however, Quebec implements its pension plan. The government provides financial support to provincial and territorial governments through four main transfer programs – the Canada Health Transfer (CHT), the Canada Social Transfer (CST), and Equalization and Territorial Formula Financing (TFF)–to help them provide social programs and services to citizens. Private employee benefits are gaining popularity, and many companies offer private benefit plans for employees to supplement the government-sponsored hospital and medical plans.
Key Highlights
- The Employment and Social Development Canada (ESDC) is responsible for the functioning of the overall social security system in Canada.
- A person’s 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 a credited contribution.
- In Canada, Pillar III consists of voluntary employment pension plans and individual retirement savings. The employment pension plans are provided as both DB and DC schemes in the country.
This report provides a detailed analysis of employee benefits in Canada
- 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, Short-Term Sickness Benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, leaves and holidays and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Canada
- 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
Table of Contents
57 Pages
- 1 Executive Summary
- 2 Introduction
- 2.1 What is this report about?
- 2.2 Definitions
- 3 Country Statistics
- 4 Overview of Employee Benefits in Canada
- 5 Regulations
- 6 State and Compulsory Benefits
- 6.1 Retirement Benefits
- Introduction
- Eligibility
- Benefits
- Payment Options
- Contribution
- 6.2 Death in Service
- Introduction
- Eligibility
- Benefits
- Payment Options
- Contribution
- 6.3 Long-Term Disability Benefits
- Introduction
- Eligibility
- Benefits
- Payment Options
- Contribution
- 6.4 Short-Term Sickness Benefits
- Introduction
- Eligibility
- Benefits
- Payment Options
- Contribution
- 6.5 Medical Benefits
- Introduction
- Eligibility
- Benefits
- Payment Options
- Contribution
- 6.6 Workers’ Compensation Insurance
- Introduction
- Eligibility
- Benefits
- Payment Options
- Contribution
- 6.7 Maternity and Paternity Benefits
- Introduction
- Eligibility
- Benefits
- Payment Options
- Contribution
- 6.8 Other Benefits
- Family Benefits
- Unemployment Benefits
- Leaves and Holidays
- 7 Private Benefits
- 7.1 Retirement Benefits
- 7.2 Death Benefits
- 7.3 Medical benefits
- 7.4 Disability Benefits
- 7.5 Accidental Death and Dismemberment Benefits
- 7.6 Other Benefits
- 8 About GlobalData
- 9 Contact Us
- List of Tables
- Table 1: Insurance industry definitions
- Table 2: Canada – Country statistics, 2024
- Table 3: Canada - Monthly maximum OAS deferred pension 2025
- Table 4: Canada - Monthly maximum guaranteed income supplement benefits 2025
- Table 5: Canada – State and compulsory workmen's compensation benefits 2025
- Table 6: Canada – State and compulsory QPIP benefits for a child born on and after January 1, 2022
- Table 7: Canada – State and compulsory benefits and number of variable Best weeks calculation rates 2025
- Table 8: Canada – Notice period, 2025
- Table 9: Canada – Fixed national and public holidays 2025
- Table 10: Canada – Accidental death & dismemberment coverage, 2025
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