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Employee Benefits in Hong Kong (China SAR) 2025

Publisher GlobalData
Published May 23, 2025
Length 59 Pages
SKU # GBDT20204561

Description

Employee Benefits in Hong Kong (China SAR) 2025

Summary

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

Hong Kong’s social welfare system provides cover to all residents in the event of disability, old age, death, unemployment, and sickness. The public pension pillar covers individuals in need of assistance. The occupational pillar, which is a compulsory defined contribution (DC) scheme, was launched in 2000, and the third pillar is a voluntary pension savings scheme. The Social Welfare Department (SWD) administers Hong Kong’s non-contributory social security system, which includes the Comprehensive Social Security Assistance (CSSA) Scheme, the Social Security Allowance (SSA) Scheme, the Criminal and Law Enforcement Injuries Compensation (CLEIC) Scheme, the Traffic Accident Victims Assistance (TAVA) Scheme, the Support for Self-Reliance (SFS) Scheme, and Emergency Relief (ER).The main change to Hong Kong’s social welfare system in the last decade was the introduction of the compulsory occupational pillar, the Mandatory Pension Fund (MPF). Before its implementation, any contribution to the occupational system was made voluntarily.

Key Highlights
  • The Social Welfare Department (SWD) and the Mandatory Provident Fund Authority (MPFA) are responsible for the functioning of the overall social security system.
  • 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.
  • Employers in Hong Kong provide their employees with private retirement benefits via ORSO and MPF schemes.
Scope

This report provides a detailed analysis of employee benefits in Hong Kong -
  • 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 benefits, leaves and holidays, and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in Hong Kong
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

Table of Contents

59 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 Hong Kong
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: Hong Kong – Items under ECO, April 17, 2025
Table 2: Hong Kong – Items under PMCO, April 17, 2025
Table 3: Hong Kong – Items under ODCO, April 17, 2025
Table 4: Insurance Industry Definitions
Table 5: Hong Kong – Country Statistics, 2024
Table 6: Items under ECO, April 17, 2025
Table 7: Items under PMCO, April 17, 2025
Table 8: Items under ODCO, April 17, 2025
Table 9: Hong Kong – Asset test limit for a single person, 2025
Table 10: Hong Kong – Asset test limit for a family with healthy adults, 2025
Table 11: Asset test limit for a single person, 2025
Table 12: Hong Kong – Standard rates paid to different categories of recipients, 2025
Table 13: Hong Kong – Standard rates paid to healthy recipients under the age of 65, 2025
Table 14: Hong Kong – Rate of long-term supplement, 2025
Table 15: Hong Kong – Special grant rent allowance, 2025
Table 16: Hong Kong – Special grant water and sewage charge allowance, 2025
Table 17: Hong Kong – Maximum amount paid to cover the fees of a childcare center, 2025
Table 18: Hong Kong – Maximum amount paid to cover the fees of kindergarten, 2025
Table 19: Hong Kong – Monthly DE calculation, 2025
Table 20: Hong Kong – Asset test limit, 2025
Table 21: Hong Kong – Workmens’ compensation – payment options
Table 22: Hong Kong – Working family allowance 2025
Table 23: Hong Kong – Dependent parent and dependent grandparent allowance, 2025
Table 24: Hong Kong – Paid annual leave entitlement, 2025
Table 25: Hong Kong – Public holidays, 2025
Table 26: Hong Kong – DB scheme contributions
Table 27: Hong Kong – DC scheme contributions
Table 28: Hong Kong – Accidental death and disablement scale of benefit

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