Report cover image

United Kingdom (UK) 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 Privat

Publisher GlobalData
Published Feb 16, 2023
Length 65 Pages
SKU # GBDT17959794

Description

United Kingdom (UK) 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, 2023 Update


Summary

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

The UK has one of the most comprehensive and well-established welfare systems in the world. It is predominantly controlled by the social security system. Welfare benefits in the country are disbursed under various schemes, such as cash benefits, healthcare, education, housing, and personal social services. Cash benefits are classified into three subgroups: national insurance; means-tested; and non-contributory benefits.

Key Highlights
  • The HM Revenue & Customs, Department for Business, Energy, and Industrial Strategy (BEIS), and National Health Services (NHS) organizations 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 the UK, employers provide voluntary retirement benefits to their employees through occupational pension schemes, master trust and automatic enrollment.
Scope

This report provides a detailed analysis of employee benefits in the UK -
  • 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, grant-in-aid, social relief distress, compensation, leaves and holidays and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in the UK
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

65 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 the UK
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: The UK – Country Statistics, 2021
Table 3: The UK – National Insurance (NI) Contributions Thresholds
Table 4: The UK – National Minimum Wage April 2023
Table 5: The UK – Class 1 NI Contribution Rates for Employee 2022–23
Table 6: The UK – NI Contributions for Employers 2022–23
Table 7: The UK – Weekly Statutory Sick Pay Rates for 2022–23
Table 8: The UK – Industrial Injuries Disability Benefits Level
Table 9: The UK – Payment of Constant Attendance Allowance
Table 10: The UK – Statutory Maternity, Paternity, and Adoption Pay, 2022–23
Table 11: The UK – Working Tax Credit, Eligibility
Table 12: The UK – Additional Benefits
Table 13: The UK – Contribution-Based Jobseeker’s Allowance
Table 14: The UK – Income-Based Jobseeker’s Allowance
Table 15: The UK – Fixed National and Public Holidays 2023
Table 16: The UK – Number of DB Schemes 2022
Table 17: The UK – Mileage Allowance Payments

Pricing

Currency Rates
How Do Licenses Work?

How Do Licenses Work?

The primary function of a report license is to define how many people within a company are authorized to use the purchased report. This is separate to how a report might be delivered. Unless specifically identified otherwise, the purchase option is Single User. Below is a helpful description of that license, along with a sampling of others most commonly offered.

  • This license allows only one user to have access to and to use/read the report. It is not one user at a time or one user group; it is an individual who will be reading and utilizing the report.

  • This license allows for the entire purchasing company to read and use the report. This is the license level that would allow for a report to be placed on an internal company shared drive for access by all employees of that direct company. This license does not extend to parent or sister company use.

  • This license is designed to allow an entire department within a company full access to a report. The departmental license is a great option for companies that have more than one location and the department is spread out all over the country/world

  • This license is for companies that have one location where they want the report to be accessible by all employees within that physical location.

  • This is the most flexible of the licensing options. Some publishers will allow you to get a license for a preset number of people (typically 5). These licenses are ideal for small work groups.

License options are at the discretion of each publisher. As such, not all licenses indicated above are available for every product. If you are uncertain of the best license for your needs or would like a license that is not proactively available, please contact us and we will be happy to assist.

Request A Sample
Head shot

Questions or Comments?

Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
Chat Now
Contact Us