Employee Benefits in Indonesia 2018
The Indonesian social security system comprises the provident fund system and social insurance system. Social security in Indonesia covers a small proportion of the population with minimal benefits. With effect from January 1, 2014, a new regime of national social security has been implemented in Indonesia with an intention to cover all employees and residents under one healthcare system by 2019, as well as one employment benefits system by 2029. Under the new system, BadanPenyelenggaraJaminanSosial (BPJS) Healthcare (BPJS Kesehatan) will administer healthcare benefits and BPJS Employment (BPJS Ketenagakarjaan) will administer employment benefits, which cover against the risks of old, age, death, occupational accidents, and diseases. The employee benefits market in Indonesia is expected to register robust growth, as the country’s government is planning to be one of the world’s six largest global economies by 2030 as part of its long-term strategy.
The report provides in-depth industry analysis, information and insights of the employee benefits in Indonesia, including: overview of the state and compulsory benefits in Indonesia, detailed information about the private benefits in Indonesia, 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 Indonesia.
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