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Government & Regulation
Employee Benefits in Lithuania 2020
Lithuania inherited a Soviet-style pension system with characteristics such as generous early retirement provisions, privileges for certain occupational groups, and a weak link between contributions and benefits. The economic crisis in the 1990s forced the Lithuanian government to undertake pension system reforms in 1995. The reforms were intended to make changes in the State Social Pension Insurance (first pillar), enhance the stability of the system by eliminating the generous early retirement provisions, and create a strong link between contributions and...
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Government & Regulation
Employee Benefits in Russia 2020
Russia inherited a Soviet-style pension system with characteristics such as generous early retirement provisions, privileges for certain occupational groups, and a weak link between contributions and benefits. The economic crisis in the 1990s forced the Russian government to undertake pension system reforms in 1995. The reforms were intended to make changes in the State Social Pension Insurance (first pillar), enhance the stability of the system by eliminating the generous early retirement provisions, and create a strong link between contributions and...
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Government & Regulation
Employee Benefits in South Korea 2020
The South Korean social security system comprises social insurance, public assistance, and social welfare services. The main component is the social insurance program and the most important sector, concerning resources and expansion, is health insurance. The country has an industrial accident insurance program and a government pension system that covers civil servants, military personnel, and private schoolteachers. These systems aim to protect and secure citizens’ income, health, and employment. Foreigners who work in South Korea can also be insured by...
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Government & Regulation
Employee Benefits in Venezuela 2020
The Venezuela pension system has been facing much turbulence, regardless of the increase in the number of pensioners every year. The Venezuelan pension system includes everyone from means-tested to private employees. Venezuela’s social security system is based on the principle of defined-benefits and is generally managed by the state government. The social security system covers a limited number of benefits and provides them based on the insured’s contribution period. Venezuela has three pillar pension system. First pillar is made for...
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Government & Regulation
Employee Benefits in Uganda 2020
Uganda’s social security system only covers a small portion of the population. Most of the workers and their families are not covered under the country’s social security system; however, the government plans to introduce new social security benefits. The government is planning to include maternity and unemployment benefits; health insurance; funeral grants; and school fees for the children of workers. The two important formal social security schemes in Uganda are the National Social Security Fund (NSSF) and the Public Service...
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Government & Regulation
Employee Benefits in Slovenia 2020
The Slovenian social security system includes social insurance, social assistance scheme, and family benefits. It covers the risks of employees, self-employed persons, unemployed persons, persons taking care of family members, and individuals without the necessary minimum resources. Contributions to the social security system are made by employees, employers, and self-employed individuals. Slovenia has two pillar pension system. First pillar is made for means-tested and employed individuals and the second pillar comprised of employer sponsored defined contribution (DC) schemes. The report...
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Sector Analysis
United Kingdom (UK) Travel Insurance - Market Dynamics and Opportunities 2020
This report provides in-depth analysis of the UK travel insurance market. It looks at current and historical market size and profitability, examining changes in premiums and claims. It analyzes the competitive landscape, providing examples of key travel insurance products. The report discusses travel trends and the impact of various socio-political and economic factors, including COVID-19 and Brexit. Forecasts up to 2024 are provided for gross written premiums, and the report also discusses how the market and travel insurance products are...
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Government & Regulation
Employee Benefits in Singapore 2020
The Republic of Singapore’s social security system is founded on principles of self-provision and self-reliance; the government limits expenditure on social security schemes. Government policy has been that each generation must earn and save enough for their entire life cycle, with each individual responsible for their financial sustenance after retirement. The Central Provident Fund (CPF) is a key component of the Singaporean social security system. Most mandatory and state-sponsored benefits are limited to nationals and permanent citizens The report provides...
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Government & Regulation
Employee Benefits in Puerto Rico 2020
In 1952, Puerto Rico was granted the status of Commonwealth of United States after its constitution was ratified by the electorate. The Employees Retirement System (ERS) and Teachers Retirement System (TRS) are the major governing bodies of social security. The existing retirement system was introduced in 1951 as a defined benefit plan, but over the years evolved into a hybrid plan. The systems now provide coverage for retirement, disability and death. The report provides in-depth industry analysis, information and insights...
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Government & Regulation
Employee Benefits in Ghana, 2020 Update
Ghana’s social welfare system provides cover to all residents in the event of disability, old age, death, unemployment, and sickness. The public pension pillar covers individuals in need of assistance. The occupational pillar, which is a compulsory defined-contribution (DC) scheme, was launched in 2000, and the third pillar is a voluntary pension savings scheme. The Social Welfare Department (SWD) administers Ghana’s non-contributory social security system, which includes the Comprehensive Social Security Assistance (CSSA) scheme, the Social Security Allowance (SSA) scheme,...
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