Employee Benefits in Israel 2020

The Kingdom of Israel has an extensive social security system, which aims to provide every citizen with a decent standard of living in line with Islamic principles. Its small population and high gross domestic product (GDP) allow the Kingdom to provide employed and self-employed residents with help, such as medical care, childcare, pensions, and unemployment benefit, as well as, in some cases, housing and disability benefits. Israel had previously experimented with its social security system by bringing in foreign workers as the country’s working population mainly consists of expatriates. However, due to their transient nature, the plan was later shelved. The Ministry of Labor provides general supervision, while the General Organization for Social Insurance (GOSI) administers various social welfare programs through district offices.

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

Key Highlights

– The Ministry of Social Affairs and National Insurance Institute is responsible for the functioning of the overall social security system.
– The National Insurance covers all citizens, permanent residents, and Jewish immigrants.
– The government grants state benefits to all employed, self-employed and unemployed persons and their dependents residing in the country.
– In Israel, private benefits are additional benefits granted by employers.

Scope

This report provides a detailed analysis of employee benefits in Israel –

– 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, Long-Term Care Benefits, Minimum Resources, Unemployment Benefitst, Child Allowance, Benefits for Children with Disabilities, Accidents Injury Benefits, leaves and holidays and private benefits

– It highlights the economic and regulatory situations relating to employee benefits in Israel

Reasons to Buy

– Make strategic decisions using in-depth information related to employee benefits in Israel.

– Assess Israel’s employee benefits market, including state and compulsory benefits and private benefits.

– Gain insights into the key employee benefit schemes offered by private employers in Israel.

– Gain insights into key organizations governing Israel’s employee benefits, and their impact on companies.