Employee Benefits in Israel 2021

Employee Benefits in Israel 2021

Summary

Israel has a well-established social security system that provides a series of means-tested benefits and grants to people who require financial assistance. The system encompasses income-transfer programs administered by the National Insurance Institute and other government ministries that provide a safeguard for persons and their dependents with inadequate sources of income, or those facing unforeseen expenses. Programs are intended to reduce poverty, provide citizens with an acceptable standard of living, and support children and the unemployed.

The National Insurance covers all citizens, permanent residents, and Jewish immigrants.

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

Key Highlights

• The government grants state benefits to all employed, self-employed and unemployed persons and their dependents residing in the country
• Compulsory benefits are provided by employers to employees and are mandated by law
• Retirement, disability, death-in-service, healthcare, unemployment, and income support benefits are provided by the state or else are compulsory
• Private health insurance, voluntary group personal accident insurance, and paid vacations are all implemented in various combinations and forms to attract the best workers to the top firms

Scope

This report provides a detailed analysis of employee benefits in Israel-

• 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 Israel

Reasons to Buy

• Make strategic decisions using in-depth information related to employee benefits in Israel
• Assess Israel'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 Israel
• Gain insights into key organizations governing Israel's employee benefits, and their impact on companies