Market Research Logo

Employee Benefits in Mexico 2017

Employee Benefits in Mexico 2017

Summary

Mexico’s social security system was introduced in 1942 and has since evolved in terms of scope and coverage. The Mexican Social Security Institute (IMSS) and the Institute for Security and Social Services for Government Workers (ISSSTE) are the governing bodies of social security system. The existing social security system was introduced on July 1, 1997 and is based on defined contributions instead of the earlier pay-as-you-go system. The system provides coverage for disability, death and retirement benefits. Individual accounts are created for employees and contributions made by employee, employer and government are credited therein.

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

Key Highlights

  • Everyone in state and private employment is covered by the social security system.
  • Old-age and survivor's pensions, unemployment, insurance for accidents at work and occupational diseases, family benefits, compulsory insurance for medical care and benefits, and annual vacation comprise the state and compulsory benefits in force.
  • The IMSS regulates pension and other employee benefits in the private sector, whereas the pensions of those employed by the state are governed by the ISSSTE.
  • Private benefits are employee benefits that are not mandated by law but are provided by employers to motivate employees.
Scope
  • This report provides a detailed analysis of employee benefits in Mexico.
  • 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 Mexico.
Reasons to buy
  • Make strategic decisions using in-depth information related to employee benefits in Mexico.
  • Assess Mexican employee benefits market, including state and compulsory benefits and private benefits.
  • Gain insights into the key employee benefit schemes offered by private employers in Mexico.
  • Gain insights into key organizations governing Mexican employee benefits, and their impact on companies.


  • Executive Summary
  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
  • Country Statistics
    • Table Mexico – Country Statistics
  • Overview of Employee Benefits in Mexico
  • Regulations
    • Table Minimum Wage in 2015
  • State and Compulsory Benefits
    • Table Figure 1: Mexico – Main Institutions of Social Security System
    • Retirement Benefits
      • Introduction
      • Types of Retirement Plan
      • Eligibility
      • Age
        • Table Early Retirement Age for Government Workers With 30 Years of Contributions
        • Table Early Retirement Age for Government Workers with 15 Years of Contributions
      • Pensionable salary
      • Benefits
        • Table Percentage of Wages for Basic Amount and Annual Increase
        • Table Early Retirement Pension Percentage for Government Workers
        • Table Unemployment Old-Age Pension
        • Table Dependent's Supplement Pension
      • Payment Options
      • Typical employer practice
      • Employee and employer contributions
      • Taxation
    • Death in Service
      • Introduction
      • Eligibility
      • Benefits
      • Payment Options
      • Typical employer practice
      • Employee and employer contributions
      • Taxation
    • Long-Term Disability Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Payment Options
      • Employee and employer contributions
      • Taxation
    • Short-Term Sickness Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Payment Options
      • Typical employer contribution
      • Employee and employer contributions
      • Taxation
    • Medical Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Payment Options
      • Typical employer practice
      • Employee and employer contributions
      • Taxation
    • Workmen's Compensation Insurance
      • Introduction
      • Eligibility
      • Benefits
      • Payment Options
      • Employee and employer contributions
      • Taxation
    • Maternity and Paternity Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Payment Options
      • Employee and employer contributions
      • Taxation
    • Family Benefits
      • Introduction
      • Eligibility
      • Benefits
        • Table Financial Aid to Children Pursuing Education
      • Payment Options
      • Employee and employer contributions
      • Taxation
    • Annual Vacations
      • Introduction
      • Compulsory leaves
        • Table Mandatory Holidays of Mexico
      • Paid vacation
        • Table Number of Paid Vacation Days
    • Minimum Resources
      • General system
      • Programa de Pensión para Adultos Mayores or Old-age assurance
      • Programa de Abasto Rural or Rural Supply Program
      • Programa d e Abasto Social de Leche or Social Milk Supply Program
      • Instituto Nacional de las Personas Adultas Mayores or National Institute of Older Persons
    • Unemployment Benefits
      • Introduction
      • Eligibility
      • Benefits
        • Table Old-age Unemployment Benefits, 2010–2018
      • Payment Options
      • Employee and employer contributions
      • Taxation
  • Private Benefits
    • Retirement Benefits
    • Disability Benefits
    • Death Benefits
    • Medical and Health Benefits
    • Other Benefits
  • Appendix
    • Methodology
    • Contact GlobalData
    • About GlobalData
      • Table Figure 2: About GlobalData
    • GlobalData's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report