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Employee Benefits in Portugal 2024

Publisher GlobalData
Published Mar 22, 2024
Length 60 Pages
SKU # GBDT18902362

Description

Employee Benefits in Portugal 2024


Summary

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

The Portuguese social security system is based on universality; it ensures that the social protection provided by the system is available for everyone. It consists of the Public Social Security System, the Social Action System, and the Supplementary System. The Public Social Security System has three subsystems Welfare, Solidarity, and Family Support System. The welfare system is a contributory scheme that protects the employed and the self-employed against the risk of losing a regular income due to sickness, maternity, unemployment, disability, death, retirement, and occupational diseases. The solidarity system is a non-contributory system that guarantees citizenship rights and aims to eliminate poverty. It is primarily meant for agricultural workers who are not covered under the welfare system. In the event of disability and dependency, the provision of financial support to meet family expenditures is made by the Family Support System. The Social Action System is aimed at protecting the interests of special categories of people such as children, disabled youngsters, and the elderly. The supplementary system is optional, and it consists of supplementary group initiative schemes, individual initiative schemes, and the public capitalization scheme, including pension funds financed by employers, life assurance, and savings plans.

Key Highlights
  • The Social Security Institute (Instituto da Segurança Social), the National Centre for the Protection against Professional Risks (Centro Nacional de Protecção contra os Riscos Profissionais), Social Security District Centers (Centros Distritais de Segurança Social, CDSS), the Institute for Employment and Professional Training (Instituto do Emprego e da Formação Profissional), the insurance companies supervised by the Ministry of Finance (Ministério das Finanças), and the National Health Service (Serviço Nacional de Saúde) are responsible for the functioning of the overall social security system.
  • 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 Portugal, employers provide voluntary retirement benefits to their employees through Open pension funds, Closed pension funds and Group insurance.
Scope

This report provides a detailed analysis of employee benefits in Portugal -
  • 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 benefit, Short-term sickness benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, Minimum Resources Benefits, Long-Term Care Benefits, unemployment, leaves and holidays and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in Portugal
Reasons to Buy
  • 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

60 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 Portugal
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
Minimum Resources Benefits
Long-Term Care Benefits
Unemployment Benefits
Leaves and Holidays
7 Private Benefits
7.1 Retirement Benefits
7.2 Death Benefits
7.3 Medical benefits
7.4 Disability Benefits
7.5 Accidental Death and Dismemberment Benefits
7.6 Other Benefits
8 About GlobalData
9 Contact Us
List of Tables
Table 1: Insurance Industry Definitions
Table 2: Portugal – Country Statistics, 2023
Table 3: Portugal – New Sustainability Contribution, 2015
Table 4: Portugal – New Sustainability Contributions 2024
Table 5: Portugal – Minimum Pensions for 2024
Table 6: Portugal – Deferred Pensions
Table 7: Portugal – Minimum Pension, 2024
Table 8: Portugal – Special Pension Supplement 2024
Table 9: Portugal – Extraordinary supplement amounts for old-age pension
Table 10: Portugal – Orphan's Pension 2024
Table 11: Portugal – Minimum pension in 2024
Table 12: Portugal – Extraordinary supplement amounts for minimum disability pension
Table 13: Portugal – Sickness Daily Benefits
Table 14: Portugal – Orphan's Benefits
Table 15: Portugal – Death Allowance
Table 16: Portugal – Adoption Benefits
Table 17: Portugal – Orphan's Pension
Table 18: Portugal – Parental family allowance
Table 19: Portugal – Child Benefits in 2024
Table 20: Portugal – Family allowances for single-parent households as of January 1, 2024
Table 21: Portugal – Family allowances for large families as of January 1, 2024
Table 22: Portugal – Special Allowances for Disabled Children 2024
Table 23: Portugal – Education Allowance
Table 24: Portugal – Prenatal allowance, 2024
Table 25: Portugal – Unemployment Benefits: Duration of Benefits
Table 26: Portugal – Public Holidays 2024

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