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Spain Statutory and Private Employee Benefits (including Social Security) - Insights into Statutory Employee Benefits such as Retirement Benefits, Long-term and Short-term Sickness Benefits, Medical Benefits as well as Other State and Private Benefits, 20

Publisher GlobalData
Published May 10, 2022
Length 52 Pages
SKU # GBDT17462125

Description

Spain Statutory and Private Employee Benefits (including Social Security) - Insights into Statutory Employee Benefits such as Retirement Benefits, Long-term and Short-term Sickness Benefits, Medical Benefits as well as Other State and Private Benefits, 2022 Update

Summary

The Spanish social security system covers the country’s entire population, including foreigners who work in the country. It also protects those of Spanish origin, as well as their dependents who reside in foreign countries. The main objective of this system is to formulate a single and integrated model of social protection, in order to guarantee adequate social assistance and a source of funds for various benefits, with contributions from insured individuals, employers, and the state. However, the recent sovereign debt crisis in Europe has adversely impacted the Spanish social security system. The recession in property dealings affected Spain’s property and housing sector, and thus raised the level of unemployment. As a result of this, the payment of unemployment benefits has increased, rising government expenditure, and forcing the state to impose high taxes and charge for all free medical and healthcare services. Furthermore, the country’s private employee benefits sector was also adversely affected by the crisis.

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

Key Highlights
  • The INSS, ISM, INGESA, IMSERSO, SPEE and TGSS 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 Spain, employers provide voluntary retirement benefits to their employees through occupational pension schemes, PPSEs and Unit-Linked Collective Outsourcing.
Scope

This report provides a detailed analysis of employee benefits in Spain -
  • 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, leaves and holidays and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in Spain
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

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 Spain
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
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List of Tables
Table 1: Insurance Industry Definitions
Table 2: Spain — Country Statistics, 2020
Table 3: Spain — Minimum and Maximum Retirement Benefits 2022
Table 4: Spain — Lump-Sum Payments for Total and Permanent Disability 2022
Table 5: Spain — Minimum Benefits for Permanent Disability 2022
Table 6: Spain — Minimum Benefits for Absolute or Totally Disability aged 65 years and above, 2022
Table 7: Spain — Minimum Benefits for Total Disability between 60 and 64 years, 2022
Table 8: Spain — Minimum Benefits for Total Disability from common disease for individuals aged below 60 years, 2022
Table 9: Spain — Conditions for Exemption of Family Benefits 2022
Table 10: Spain — Guaranteed Income Amounts, 2022 for Non-Single Parent Unit
Table 11: Spain — Guaranteed income amounts, 2022 for Single Parent Unit
Table 12: Spain — Guaranteed income amounts, 2022 for Single Parent Unit for dependents with third degree disability
Table 13: Spain — List of Public Holidays 2022
List of Figures
Figure 1: Spain - Main Institutions of Social Security System

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