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