Employee Benefits in Ireland, 2022 Update - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
Description
Employee Benefits in Ireland, 2022 Update - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis
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 is available for Irish residents, which are subject to several 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 an 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
This report provides a detailed analysis of employee benefits in Ireland -
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 is available for Irish residents, which are subject to several 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 an 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
- Minister for Social Protection and the Minister for Finance are responsible for Social insurance contributions and Health Service Executive (HSE) under the supervision of the Department of Health are responsible for financing the child benefits, non-contributory benefits, and benefits in kind.
- 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 credited contribution.
- In Ireland, employers provide voluntary retirement benefits to their employees through voluntary occupational DC pension schemes.
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, Short-term sickness, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, Minimum resource, Long-Term Care, leaves and holidays and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Ireland
- 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
52 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 Ireland
- 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
- Long - term care Benefits
- Minimum Resources Benefits
- Leaves and Holidays
- 7. Private Benefits
- 7.1 Retirement Benefits
- 7.2 Death Benefits
- 7.3 Disability Benefits
- 7.4 Medical Benefits
- 7.5 Accidental Death and Dismemberment Benefits
- 7.6 Other Benefits
- About GlobalData
- Contact Us
- List of Tables
- Table 1: Insurance Industry Definitions
- Table 2: Ireland - Country Statistics, 2020
- Table 3: Ireland - Old-Age Benefits, Average Rate per week, 2022 (who qualified on or after September 1, 2012)
- Table 4: Ireland - Old-Age Benefits, State Pension rates, 2022 (who qualified on or after September 1, 2012)
- Table 5: Ireland - Old-Age Benefits, Maximum personal weekly rate of payment, 2022 (who qualified before September 1, 2012)
- Table 6: Ireland - Child dependent benefits, Weekly rate of payment, 2022
- Table 7: Ireland - Disability Benefits, Maximum rates of Partial Capacity Benefit in 2022
- Table 8: Ireland - Disability Benefits, Carer's Allowance rates 2022
- Table 9: Ireland - Disability Benefits, Widow's, Widower's or Surviving Civil Partner's (Contributory) Pension rates 2022
- Table 10: Ireland - Social Assistance Benefits, Current Pension rates 2022
- Table 11: Ireland - Overall Social Insurance Rates, Employee and Employer Contributions
- Table 12: Ireland - Weekly Payment Rates 2022
- Table 13: Ireland - Health and Safety Benefit Weekly Payment for 2022
- Table 14: Ireland - Monthly Child Benefits Paid for 2022
- Table 15: Ireland - Foster Care Allowance for 2022
- Table 16: Ireland - Basic supplementary welfare allowance for 2022
- Table 17: Ireland - Job seeker’s allowance
- Table 18: Ireland - Leave, Fixed National and Public Holidays 2022
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