Employee Benefits in the Dominican Republic 2018
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The Dominican Republic has a comprehensive social security system. There are three schemes under which social security benefits are granted to the country’s residents and citizens: a contributory scheme that covers employees; a contributory subsidized scheme for self-employed individuals and technicians that is yet to be implemented; and a fully subsidized scheme that covers unemployed and severely disabled persons who do not have a stable income and earn below the minimum wage. The 2003 economic crisis forced the government to reduce public social spending, discontinue several programs and focus on the social protection of the country’s poorest residents through the introduction of the solidarity card and programs like the eating first incentive program, attendance incentive and incentive for higher education.
The report provides in-depth industry analysis, information and insights of the employee benefits in Dominican Republic, including: overview of the state and compulsory benefits in Dominican Republic, detailed information about the private benefits in Dominican Republic, 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 Dominican Republic.
Key Highlights
– State benefits are granted by the government of a particular country to all of its employed, self-employed and unemployed residents and their dependents.
– The benefits that are granted by private employers to their employees over and above the state and compulsory benefits are known as private benefits.
– The Dominican Republic’s social security system is regulated and based on the Law 87-01, which was enacted on May 10, 2001.
– Compulsory benefits are provided by employers to their employees, and are mandated by law. Retirement, death, disability pension, sickness and maternity benefits, medical benefits and workmen compensation benefits form a part of state and compulsory benefits.
Scope
– This report provides a detailed analysis of employee benefits in Dominican Republic.
– 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, leave and private benefits
– It highlights the economic and regulatory situations relating to employee benefits in Dominican Republic.
Reasons to Buy
– Make strategic decisions using in-depth information related to employee benefits in Dominican Republic.
– Assess Dominican Republic employee benefits market, including state and compulsory benefits and private benefits.
– Gain insights into the key employee benefit schemes offered by private employers in Dominican Republic.
– Gain insights into key organizations governing Dominican Republic employee benefits, and their impact on companies.
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