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Employee Benefits in Ireland 2018

Employee Benefits in Ireland 2018

Summary

The Irish social security system covers company employees, self-employed persons, the unemployed, people with less than minimum resources and dependent family members of deceased employees. The Irish social welfare system is divided into social insurance payments, means-tested payments and universal payments. The payment of social insurance is mandatory; both employers and employees must contribute pay related social insurance (PRSI) contributions to the national Social Insurance Fund (SIF). Self-employed persons pay Class S social insurance contributions directly to the Revenue Commissioners, although these are not required to pay after the age of 66. A range of state benefits are available for Irish residents, which are subject to a number of conditions other than social insurance contribution requirements. Companies across the country also provide customized private benefits to their employees as a supplement to state benefits.

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

Key Highlights

  • The main state and compulsory benefits in force in Ireland include: old age, survivor's and disability pension; unemployment benefits; short-term sickness benefits; workmen’s compensation insurance; insurance for occupational diseases; long-term care insurance; family benefits; maternity benefits; compulsory insurance for medical care and benefits; and minimum resource benefits.
  • Private benefits provide access to a range of services that improve employees’ quality of life.
  • The development in the private benefit market can be attributed to the increase in the awareness of the employees and the stringent regulations in the compulsory benefit market.
  • Employees, self-employed persons, unemployed persons and persons taking care of children are all covered under the country’s social security system.
Scope
  • This report provides a detailed analysis of employee benefits in Ireland.
  • 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, leave and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in Ireland.
Reasons to buy
  • Make strategic decisions using in-depth information related to employee benefits in Ireland.
  • Assess Irish employee benefits market, including state and compulsory benefits and private benefits.
  • Gain insights into the key employee benefit schemes offered by private employers in Ireland.
  • Gain insights into key organizations governing Irish 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 IRELAND
5 REGULATIONS
6 STATE AND COMPULSORY BENEFITS
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of Retirement Plan
6.1.3 Eligibility
6.1.4 Age
6.1.5 Pensionable salary
6.1.6 Benefits
6.1.7 Payment Options
6.1.8 Typical employer practice
6.1.9 Employee and employer contributions
6.1.10 Taxation
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment Options
6.2.5 Typical employer practice
6.2.6 Employee and employer contributions
6.2.7 Taxation
6.3 Long-Term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment Options
6.3.5 Typical employer practice
6.3.6 Employee and employer contributions
6.3.7 Taxation
6.4 Short-Term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment Options
6.4.5 Typical employer practice
6.4.6 Employee and employer contributions
6.4.7 Taxation
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment Options
6.5.5 Typical employer practice
6.5.6 Employee and employer contributions
6.5.7 Taxation
6.6 Workmen’s Compensation Insurance
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment Option
6.6.5 Employee and employer contributions
6.6.6 Taxation
6.7 Maternity and Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment Options
6.7.5 Employee and employer contributions
6.7.6 Taxation
6.8 Family Benefits
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment Options
6.8.5 Employee and employer contributions
6.8.6 Taxation
6.9 Unemployment Benefits
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment Options
6.9.5 Employee and employer contributions
6.9.6 Taxation
6.1 Minimum Resources
6.10.1 Introduction
6.10.2 Eligibility
6.10.3 Benefits
6.10.4 Payment Options
6.10.5 Employee and employer contributions
6.10.6 Taxation
6.11 Long-term Care Insurance
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Payment Options
6.11.5 Employee and employer contributions
6.11.6 Taxation
6.12 Treatment Benefits
6.13 Social Assistance Benefits
7 PRIVATE BENEFITS
7.1 Retirement Benefits
7.2 Disability and Sickness Benefits
7.3 Death in Service
7.4 Medical and Health Benefits
7.5 Other Benefits
8 APPENDIX
8.1 Methodology
8.2 Contact GlobalData
8.3 About GlobalData
8.4 GlobalData’s Services
8.5 Disclaimer
List of Tables
Table 1: Insurance Industry Definitions
Table 2: Ireland - Country Statistics
Table 3: Ireland - Recent Amendments to Regulations
Table 4: Irish Overall Social Insurance Rates - Employee and Employer Contributions
Table 5: Irish Monthly Child Benefits Paid in
Table 6: Ireland: Basic supplementary welfare allowance
Table 7: Ireland: Job seeker’s allowance
Table 8: Irish Treatment Benefits
Table 9: Irish Maximum Member’s Pension at Retirement Age

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