Employee Benefits in the United Kingdom (UK), 2022 Update – Key Regulations, Statutory Public and Private Benefits, and Industry Analysis

Pages: 69 Published: February 04, 2022 Report Code: GDEB1069MR

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.

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

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

Key Players


Table of Contents

Table of Contents

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 and Dismemberment Benefits

7.6 Other Benefits

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List of Tables

List of Tables

Table 1: Insurance Industry Definitions

Table 2: The UK – Country Statistics, 2020

Table 3: The UK – National Insurance (NI) Contributions Thresholds

Table 4: The UK – National Minimum Wage

Table 5: The UK – Class 1 NI Contribution Rates for Employee

Table 6: The UK – NI Contributions for Employers

Table 7: The UK – Weekly Statutory Sick Pay Rates

Table 8: The UK – Payment of Constant Attendance Allowance

Table 9: The UK – Statutory Maternity, Paternity and Adoption Pay, 2021-2022

Table 10: The UK – Working Tax Credit, Eligibility

Table 11: The UK – Additional Benefits

Table 12: The UK – Contribution-based Jobseeker’s Allowance

Table 13: The UK – Income-based Jobseeker’s Allowance

Table 14: The UK – Fixed National and Public Holidays 2022

Table 15: The UK – Number of DB Schemes

Table 16: The UK – Mileage Allowance Payments

List of Figures

List of Figures

Figure 1: The United Kingdom – Main Institutions of Social Security System

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