Employee Benefits in Costa Rica 2021

Employee Benefits in Costa Rica 2021

Summary

The Costa Rican social security system provides universal cover for the healthcare and old-age needs of people living in Costa Rica. While all employees are required to contribute, the social security system also takes care of those unable to do so. The means-tested system ensures that people living in poverty have access to necessities. The Caja Costarricense de Seguro Social (Costa Rican Department of Social Security, CCSS) is the main regulator of the Costa Rican social security system.

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

Key Highlights

  • The social security system in Costa Rica is designed to provide a steady income and financial support to employees, even after retirement
  • Each retirement scheme has a different method of funding
  • The Costa Rican retirement benefit system features both DC and DB programs
  • In Costa Rica, the supplementary private retirement benefits are provided under Pillar III which is voluntary occupational plans based on DC schemes
Scope

This report provides a detailed analysis of employee benefits in Costa Rica -
  • 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, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, long-term care benefits, leave and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in Costa Rica
  • Reasons to Buy
    • Make strategic decisions using in-depth information related to employee benefits in Costa Rica
    • Assess Costa Rica's employee benefits market, including state and compulsory benefits and private benefits
    • Gain insights into the key employee benefit schemes offered by private employers in Costa Rica
    • Gain insights into key organizations governing Costa Rica's 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 Costa Rica
    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
    PaymentnOptions
    Benefits
    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
    Minimum Resources Benefits
    Unemployement 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 and Dismemberment Benefits
    7.6 Other Benefits
    About GlobalData
    Contact Us
    List of Tables
    Table 1: Insurance Industry Definitions
    Table 2: Costa Rica - Country Statistics
    Table 3: Costa Rica - Minimum Wage Rates, 2021
    Table 4: Costa Rica - Contribution Rates for IVM
    Table 5: Costa Rica - Survivor’s Pension Benefit Rates
    Table 6: Costa Rica - Short-Term Sickness Benefits Financial Allowance for the Self-Employed
    Table 7: Costa Rica - Maternity Benefits Allowances for the Self-Employed
    Table 8: Costa Rica - Unemployment Benefits Severance Pay Calculation
    Table 9: Costa Rica - Fixed National and Public Holidays, 2021
    Table 10: Costa Rica - Dismemberment Benefits Offered Under the Group Life and Personal Accident Plans
    List of Figures
    Figure 1: Costa Rica - Main Institutions of Social Security System

    Download our eBook: How to Succeed Using Market Research

    Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

    Download eBook