All employees and wage earners of industrial and commercial companies with 1 or more staff members.
|
|
- Pamela Byrd
- 8 years ago
- Views:
Transcription
1 Prepared by Bangkok Life Assurance. I SUMMARY Social Security Eligibility Retirement Age Contributions All employees and wage earners of industrial and commercial companies with 1 or more staff members. 60M/F 2.75% from government and 5% each from employer and employee for Social Security, and 0.2% to 1.0% employer contribution to Workers Compensation. For unemployment insurance, 0.5% of salary from both employer and employee, plus 0.25% from the government. Retirement Disability Old Age Pension: 20% of the employee s average wage of the last 60 months. An additional 1.5% per additional year of contributions over 15 years, up to a maximum of 38%. Disability Pension: 50% of prior earnings payable for whole life. For work-related causes: Temporary disability: 60% of earnings for up to 52 weeks. Permanent partial disability: 60% of earnings for up to 10 years, or a lump sum. Permanent total disability: 60% of earnings for up to 15 years. Death A lump sum of 1.5 to 5 times last monthly earnings. If death occurred without suffering from injury or illness, a funeral grant of THB 40,000 is paid to the administrator of the funeral. For work-related death, a lump sum or 60% of earnings for up to 8 years. Medical Normal medical treatment, i.e. general practitioner and specialist care, hospital, inpatient care, etc. Employee Reference Manual Swiss Life Network
2 Private Benefit Plans Eligibility For retirement plans, all regular full-time employees are eligible after a minimum of 1 year of service. Retirement Age Contributions Retirement Disability Death 60M/F Contributions to the Provident Fund vary from 4% to 30% of salary (often split equally between employer and employee). Lump sum equal to the account balance in the Provident Fund. Lump sum equal to the account balance in the Provident Fund. Lump sum equal to the account balance in the Provident Fund. Accidental death and dismemberment is usually a lump sum of between 1 and 3 times annual earnings. Medical Vesting Normally applicable to salaried employees. Coverage extends to immediate family. Inand out-patient treatment, surgery, maternity, etc. No legal vesting regulations exist. The company-paid portion of the account balance is normally partially vested after 5 years, and fully vested after 10 years. Taxation Employer Contributions Social security: tax deductible subject to a maximum of THB 750 per month Private benefit plans: For retirement plans deductible up to 15% of salary, if various conditions are met. Other contributions / premiums are deductible. Employee Contributions Social security: tax deductible subject to a maximum of THB 750 per month Private benefit plans: Deductible up to a limit. Social security: Tax-free. Employee Reference Manual Swiss Life Network
3 II INTRODUCTION Country Statistics Population/ growth rate Age structure 0-14 years: years: years: years: 65 years and over: GDP purchasing power parity Real growth rate Agriculture Industry Services Unemployment rate Inflation rate Annual gross salary* Labourer Professionals Management Legal minimum wage Exchange rate on February 27, 2015 Currency: Thai Baht 67,741,401 (July 2013 est.) / 0.35% (2014 est.) 17.6% 14.8% 44.5% 13.3% 9.8% (2013 est.) USD billion (2014 est.) 2% (2014 est.) 1.4% 0.67% 2.3% (2014 est.) 0.8% (2014 est.) 1.9% (2014 est.) in 000, THB General: 222 Skilled: 367 Junior: 605 Senior: 997 Lower: 1,642 Upper: 2,940 Ranges from THB 300 per day and up (depending on the cost of living in various provinces) in THB = USD 1 THB = EUR *Source: Mercer s International Geographic Salary Differentials, Edition 2015 Legislation and Insurance Market Update in Brief No significant changes in legislation or the insurance market in Employee Reference Manual Swiss Life Network
4 III SOCIAL SECURITY Background Information As of 2002, employers with one or more employees on their payroll have been required to make contributions to the Social Security Fund and the Workmen s Compensation Fund. Prior to that regulation, contributions were only mandatory for employers with ten or more employees. The social security system does not cover government staff, Thais working abroad, students, servants, or employees in temporary work places such as stalls, however non-thais may be included. The social security system insures three categories of persons: Employees between the ages 15 and 60, people who lose their jobs as well as the self-insured. include retirement, disability, non-work related injury, non-work related illness, and maternity. Programmes for child welfare and old age commenced in 1998, when enacted as a Royal Decree. Wages and living standards differ widely between urban and rural areas. Minimum wages are set per region by the Ministry of Labour and Social Welfare. The maximum rate is paid out in the provinces of Bangkok, Nakhon Pathom, Nonthaburi, Pathum Thani, Phuket and Samut Prakan. The Labour Relations Act establishes provisions for severance pay, sick leave, paid vacation, statutory holidays and terms of employment. The Workmen s Compensation Fund provides limited benefits for occupational injury, death or disability. Eligibility All employees or wage-earners of industrial and commercial firms with 1 or more employees / wage-earners are eligible. Contributions Government: Employer: Employee: 2.75% of wages, with a maximum contribution of THB 412 per employee per month 5% of wages 5% of wages The maximum wage to be used for calculating contributions is THB 15,000, while the minimum is THB 1,650. Contributions towards Workmen s Compensation are borne by the employer, who contributes 0.2% to 1% of the payroll according to the industry risk and the past claims experiences, plus an annual government subsidy. The monthly ceiling for benefits and contributions is THB 20,000. Retirement Retirement Age Normal retirement: Early retirement: 55M/F 55M/F Employee Reference Manual Swiss Life Network
5 are payable to individuals who have paid contributions for at least 15 years, who have reached (at least) age 55 and who cease employment. The pension is equal to 20% of the employee s average wage of the last 60 months. An additional 1.5% per additional 12-month period of contributions over 15 years is awarded up to a maximum of 38%. Individuals who retire before age 55, or who have not paid contributions for at least 15 years, receive a lump sum payment at retirement. Disability To qualify for disability benefits, the insured must have paid contributions for no less than 90 days within the preceding 15 months. in case of disability are: Medical examination Medical treatment Medication and medical supplies Board and treatment in the place of treatment Ambulance or transportation for the disabled Physical, mental and occupational rehabilitation Other services as necessary. Compensation benefit due to loss of income is 50% of the salary for life averaged over the highest paid three months in the nine months preceding disability.. If hospitalised, a medical care allowance of THB 2,000 per month is granted to the insured, plus the reimbursement of expenses for prosthetics (maximum of THB 4,000). For rehabilitation in a hospital the maximum benefit amounts to THB 40,000. Death The insured person must have paid contributions for no less than 30 days during the 6-month period before death. Death benefits are not paid in the event of suicide. Employee Reference Manual Swiss Life Network
6 The death in service lump sum benefits are: 50% of the deceased s average monthly wage of the highest paid three months during the nine months preceding death, provided that contributions had been paid for a minimum of 36 months (maximum for ten years). If paid contributions exceed 10 years, benefits are five times the last salary. equal to the amount of the employee's own contributions if the deceased had less than 12 months contributions. If the cause of death of the insured person is not due to work-related injury or sickness, a benefit for funeral costs equal to THB 40,000 is paid to the administrator of the funeral. The workmen's compensation fund also provides benefits in the event of death from occupational accident or disease. This amounts to 60% of salary payable for eight years, subject to a minimum of THB 1,650 and a maximum THB 15,000 per month. The fund also pays a funeral grant of 100 times the statutory minimum daily wage. Sickness To qualify for sickness benefits, the insured must have paid contributions for no less than 90 days within the preceding 15 months. The insured is entitled to a compensation benefit due to loss of income at a rate of 50% of the salary for a period of maximum 90 days, not to exceed 180 days in one calendar year, except for chronic diseases in which case it shall not exceed 365 days. If hospitalised, a medical care allowance of THB 2,000 per month is granted to the insured plus the reimbursement of expenses for prosthetics. Medical/Health Contributions must have been paid for at least three of the 15 months preceding the injury or the disease. However, this minimum requirement does not apply for Workmen s Compensation. Employee Reference Manual Swiss Life Network
7 Medical benefits cover the basic needs, i.e. the hospitalisation in designated hospitals at ward level, plus the respective expenses. For in-patient and out-patient care, coverage cannot exceed prescribed limits. Medical services are provided through contracted health care providers consisting of public, university, military and private hospitals. The hospitals receive capitation payments from the government for the insured persons freely registered with them, and may organise their own network of other medical institutions to provide some of the services. The annual capitation rate is currently up to THB 1,000 per person. Extra costs for services are paid separately to the provider and no-user charges are in force. The capitation fees are paid monthly; 75% is paid in advance and the remainder is settled three months afterwards. The number of insured persons registered at a hospital during each month is defined as the average of the numbers at the beginning and the end of the month. The quality of care and utilisation rate at each contracted hospital is monitored. 30-Baht Health Scheme In 2001 the government launched the 30-Baht health scheme. Insured are all people not in any health scheme. They receive a card granting them access to government health services and private sector health services registered with the project. The insured must contribute a co-payment of THB 30 per incident. Work Injury Employees become eligible for the following benefits when they are injured, become ill or die due to working conditions. Temporary Disability: 60% of earnings, payable from the first day if the employee is incapacitated for more than 3 days. The benefit is payable for up to 52 weeks. Permanent Partial Disability: 60% of average monthly wage. Payable for up to 10 years according to degree of incapacity, or as a lump sum. Permanent Total Disability: 60% of latest earnings, payable for a period of up to 15 years. Death : Income of 60% of earnings according to number and type of survivors (max. THB 15,000 per month), payable for up to 8 years or as a lump sum. Eligible survivors are the spouse, parents and children under age 18 (or above if in education or disabled). The benefit is divided equally among survivors. Employee Reference Manual Swiss Life Network
8 Funeral Grant: 100 times the daily minimum wage. Medical Care: Necessary medical, surgical and hospital services are paid up to a maximum of THB 45,000 per incident. In addition, a discretionary additional sum of THB 50,000 for serious and prolonged incapacity can be paid, depending upon the assessment of the medical committee. according to temporary disability apply. Additional : A maximum of THB 24,000 per year is available for prosthetic appliances, related therapy and vocational rehabilitation training. Unemployment In 1990 unemployment insurance was announced as part of the Social Security Act, but it only came into effect on January 1, Employees receive benefits through the Labour Welfare Fund, which is governed by the social security office. Eligible are employees of companies with at least 10 employees who have contributed to the Labour Welfare Fund for at least six months within the past 15 months and who are not covered under a provident fund. Employees who are laid off due to reasons other than dishonesty, commitment of crimes, intentional causing of damage or violation of work regulations, will receive 50% of their salary for a period of not more than 180 days. Employees who resigned voluntarily receive 30% of their final pay for not longer than 90 days. The unemployment benefit is limited to a maximum of THB 250 per day. Contributions from both the employee and the employer are 0.5% of salary each, and from the government 0.25%. Other Severance Pay Labour law foresees that an employee who is dismissed without just cause after having worked for at least 120 days is entitled to severance pay varying between 1 month s wage (employment between 120 days and 1 year) and 10 months wage (employment over 10 years). An employee may be dismissed without severance pay if the reasons are wellfounded, e.g. negligence, dishonesty, imprisonment or being absent without a reason. Employee Reference Manual Swiss Life Network
9 Maternity Eligible are women who have paid contributions for a minimum of 210 days within the 15 months before the pregnancy. They receive benefits of 50% of earnings for a maximum of 90 days, plus child delivery payment of THB 13,000 plus the following medical benefits: Medical examination and statement of pregnancy Medical treatment Medication and medical supplies Child delivery Board and treatment in the place of treatment Recuperation and treatment of baby Ambulance and transportation for patient Other services as necessary. Child Allowance The insured is entitled to child allowance benefits for a child under the age of 6 and shall be paid for a maximum of 2 children at a time (eligibility does not apply to adopted children or to a child adopted by others). The monthly allowance per child amounts to THB 400. Dental Benefit Dental treatments such as fillings, scaling and the extraction of a tooth is paid up to THB 600 per annum, or up to THB 300 per treatment. The benefit is also paid for implants to an insured person who lost all the teeth through an accident, or to an insured person as from the age of 55. Taxation Employer and employee contributions to social security are tax deductible subject to a maximum of THB 750 per month for each. Social security benefits are not taxable. Other Information Reciprocal Social Security Agreements The Netherlands. Source: International Labour Organization Employee Reference Manual Swiss Life Network
10 IV PRIVATE BENEFIT PLANS Background Information Under the Provident Fund Act of 1987, an approved provident fund has significant tax advantages. In order to qualify for these advantages, the following requirements have to be met: The contribution plan should identify a fund committee and set the minimum levels of contribution The plan must be registered and managed by an approved fund manager The plan must be registered with the Ministry of Finance. Provident funds providing lump sum benefits upon retirement, death or disability are common. Group life and group medical plans are mostly provided by subsidiaries of foreign corporations or very large local corporations. Group life plans with accidental death and dismemberment riders and medical plans are commonly provided by foreign companies (as well as some local corporations). For companies with at least 10 employees that do not have a provident fund, an Employee Welfare Fund will be established to compensate employees who resign, are laid off, or die in service. Employers and employees will be required to contribute to this fund. The benefits at retirement are equal to the total of employer and employee contributions, plus interest. Eligibility For retirement plans, all regular full-time permanent employees are eligible after a minimum of one year of service. Contributions Employees normally contribute from 2% to maximum of the lesser THB 200,000 or 15% of pensionable salary. Employers must match the employee contributions and might pay higher contributions for employees with long service. Retirement Retirement Age Normal retirement: 60M/F Provident funds are usually set up as follows: Pensionable Salary: 12 times the basic monthly salary. Pensionable Service: Complete years and months from entry into plan until retirement. Retirement : The retirement benefit is a lump sum representing the account balance made up from employer and employee contributions along with credited investment earnings. It is not common to provide retirement pensions. Disability : The account balance is paid upon permanent total disability. Death : The account balance is paid upon death. Employee Reference Manual Swiss Life Network
11 Vesting No legal vesting regulations exist. The company-paid portion of the account balance is normally partially vested after 5 years, and fully vested after 10 years. Death Typical life and accidental death and dismemberment coverage is between 1/2 and 3 times annual salary on a noncontributory basis. If a contributory basis is applied, it is usually in the form of a flat sum insured for all employees. Disability and Sickness Most group life insurance plans include a permanent disability rider. The Labour Law permits all employees to take sick leave until recovered. During sick leave, they are entitled to receive full salary for a maximum of 30 days per year. Medical/Health Most plans cover all salaried employees. Plans are often non-contributory. When coverage is provided for dependants, employees often pay part of the premium for this coverage. An average plan provides the following benefits: Hospital Daily room and board (R&B) Private THB 2,300 - THB 4,000 Semi-private THB 1,500 - THB 1,500 Ward THB THB 1,000 Maximum days, per illness 31 Hospital services x R&B Out-patient treatment (emergency) THB 10,000 Surgery and anaesthesia benefits Maximum benefit for surgery x (R&B) Average charge for appendectomy THB 5,000 Doctor s Visits In-hospital THB 1,00 1,500 Maximum number of visits per illness 31 Out-of-hospital (some insurance companies THB 500 cover this, but most exclude it) Maternity Normal delivery THB 30,000 - THB 60,000 Caesarean 200% of normal delivery Abortion 50% of normal delivery Employee Reference Manual Swiss Life Network
12 Other Apart from common fringe benefits such as company cars, no other benefits are available. Taxation General A retirement plan is classified as a registered provident fund scheme as defined by the Provident Fund Act of 1987, provided the following conditions are met: Written rules governing the plan must be approved by the Director General of the Revenue Department of the Ministry of Finance. Employees must contribute at least 2% of annual base salary to the fund. The employer contributions must at least match the employee contributions and may not exceed 15% of the annual base salary of the employee. The scheme must be overseen by a fund committee and led by an approved fund manager. Contributions Employer contributions to a registered provident fund are tax-deductible up to 15% of annual base salary of the employee and are not considered taxable income for the employee. Any other contributions, premiums and benefits paid by the employer are fully tax-deductible. Employee contributions to a registered provident fund are tax-deductible up to THB 300,000 per annum. Employee contributions to group life and group medical plans are not tax-deductible. Lump sum retirement benefits from a registered provident fund attributable to the employee contributions are taxfree. The portion of benefits attributable to employer contributions and investment earnings is not taxable up to a certain limit which depends on the employee s salary and period of service. 50% of any benefit in excess of this will be taxed as income. Other termination benefits are tax-deductible for the employer and tax-free for the employee up to a certain limit, plus 50% of the balance. Death, disability, medical and work injury benefits are not taxable. Double Taxation Agreements Armenia, Australia, Austria, Bahrain, Bangladesh, Belarus, Belgium, Bulgaria, Canada, Chile, China, Chinese Taipei, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Hong Kong, Hungary, India, Indonesia, Israel, Italy, Japan, Korea (Republic), Kuwait, Laos, Luxembourg, Malaysia, Mauritius, Myanmar, Nepal, the Netherlands, New Zealand, Norway, Oman, Pakistan, the Philippines, Poland, Romania, Russia, the Seychelles, Singapore, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Turkey, Ukraine, the United Arab Emirates, the United Kingdom, the United States of America, Uzbekistan and Vietnam. Source: Thailand Revenue department Employee Reference Manual Swiss Life Network
13 Other Information Funding Methods Registered provident funds must be managed by an outside finance and security company, banks or life insurance companies. Fund assets may not be deposited or invested in the sponsoring company, and not less than 20% of the assets must be invested in treasury bills or government bonds. The remainder may be invested according to a schedule of additional investment restrictions. Group life with accidental death and dismemberment and medical as riders are only offered by life insurance companies, whereas accidental death and dismemberment and medical can also be offered by non-life insurance companies. Employee Reference Manual Swiss Life Network
All persons gainfully employed under age 60. Self-employed are covered also.
Prepared by First Life Financial Company. I SUMMARY Social Security Eligibility Retirement Contributions All persons gainfully employed under age 60. Self-employed are covered also. 60M/F To Social Security:
More information60M/55F subject to a minimum participation of 1 year.
Prepared by TransGlobe Life. I SUMMARY Social Security Eligibility Retirement Age Contributions Retirement Labour Insurance Programme (LI) applies to companies with 5 or more staff above age 15 and under
More informationHow To Live In Uk
Prepared by Dubai Insurance Company. I SUMMARY Social Security Eligibility UAE nationals in private or public employment Retirement Age 60M/F for Emiratis and 65 for Non-Emiratis Contributions Contributions
More informationEmployee: 9.75 % of gross monthly salary Employer: 12.25% of gross monthly salary depending on type of industry No salary ceiling.
Prepared by Mapfre Panama. I SUMMARY Social Security Eligibility Retirement Age Contributions Retirement Disability All private and public employees. 62M/57F Employee: 9.75 % of gross monthly salary Employer:
More informationPermanent: 90% of average daily wages. Permanent Partial: Proportionate to degree of disability.
Prepared by Hong Leong Assurance. I SUMMARY Social Security Eligibility All employees as of age 18. Retirement Age Contributions Retirement Disability 55M/F SOCSO (Social Security Act): employer 1.75%
More informationCHILE SUMMARY. Social Security. Prepared by Swiss Life Network.
Prepared by Swiss Life Network. I SUMMARY Social Security Eligibility All persons gainfully employed after January 1, 1983, and all those who contributed to the old system. Self-employed persons may also
More informationFlexible retirement age 55-60M/F
Prepared by PT Avrist Assurance. I SUMMARY Social Security Eligibility Retirement age All employees in companies with a) 10 or more staff, or b) with total monthly salaries of IDR 1,000,000 or more. The
More informationAll persons with permanent residence, including foreigners with a minimum of 3 years Eligibility residence.
Prepared by Ilmarinen and Mandatum Life. I SUMMARY Social Security The National Pension Scheme All persons with permanent residence, including foreigners with a minimum of 3 years Eligibility residence.
More informationSpouse s pension: 50% of disability pension on total disability plus 20% for each child, payable up to age 16. Full orphans receive 30%.
Prepared by Seguros Inbursa. I SUMMARY Social Security Eligibility Retirement Age Contributions Any person in private employment is eligible. Special systems apply to government employees, workers in the
More information65M/F, if born before 1947 or after very long insurance duration (45 years); increasing to 67M/F, if born after 1963
Prepared by Swiss Life Germany. I SUMMARY Social Security Eligibility All gainfully employed persons, except those employed with a salary of less than EUR 450 per month and persons with occasional earnings
More informationBetween 70% and 100%, depending on type of retirement and duration of contributions.
Prepared by Icatu Seguros. I SUMMARY Social Security Eligibility Retirement Age All gainfully employed persons. Normal retirement: After 35M/30F years of contributions (long service). Old age retirement:
More informationContributions Employer contributions only with 30% of payroll up to RUB 624,000.
Prepared by Rosgosstrakh-Life. I SUMMARY Social Security Eligibility All employed persons and their dependants. Retirement Age 60M/55F Contributions Employer contributions only with 30% of payroll up to
More informationAUSTRIA SUMMARY. Social Security. Prepared by WIENER STÄDTISCHE Versicherung AG.
Prepared by WIENER STÄDTISCHE Versicherung AG. I SUMMARY Social Security Eligibility Retirement Age Contributions All persons earning more than EUR 405.98 per month. (EUR 5,683.72 per annum 2015) 65M/60F.
More information27% social security contribution tax (24% pension + 3% health) 1,5% labour-market contribution
Prepared by UNION Biztosító. I SUMMARY Social Security Eligibility All legally employed persons, members of cooperatives, students, people receiving jobseekers allowance and all contributing citizens,
More informationThe system is funded by contributions from employers, employees and the self-employed.
Prepared by Danica Pension. I SUMMARY Social Security Eligibility Normal Retirement Age Contributions Essentially all residents. 65M/F The system is funded by contributions from employers, employees and
More informationWork Injury: Benefits, 2010
Austria Belgium Temporary disability The insured receives the cash sickness benefit until a decision on permanent disability is made. The employer pays 100% of earnings for up to 12 weeks (plus additional
More informationDEMOGRAPHICS AND MACROECONOMICS
1 UNITED KINGDOM DEMOGRAPHICS AND MACROECONOMICS Data from 2008 or latest available year. 1. Ratio of over 65-year-olds the labour force. Source: OECD, various sources. COUNTRY PENSION DESIGN STRUCTURE
More informationAll employees, cooperative farmers and self-employed persons.
Prepared by Kooperativa pojišťovna. I SUMMARY Social Security Eligibility Retirement Age All employees, cooperative farmers and self-employed persons. Retirement age for men and women (irrespective of
More informationThailand Tax Profile. Produced in conjunction with the KPMG Asia Pacific Tax Centre. Updated: November 2013
Thailand Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: November 2013 Contents 1 Corporate Income Tax 1 2 International Treaties for the Avoidance of Double Taxation
More informationTRANSFERS FROM AN OVERSEAS PENSION SCHEME
PENSIONS PROFILE DECEMBER 2011 TRANSFERS FROM AN OVERSEAS PENSION SCHEME = Summary A simplified guide to the process: 1. Individual requests transfer from their overseas pension scheme to their UK registered
More informationSocial Security System in Thailand Policy and Planning Division Social Security Office
Social Security System in Thailand Policy and Planning Division Social Security Office Outline Social Security Scheme in Thailand: Introduction and Historical Background Administration of the SSO Social
More informationForeign Taxes Paid and Foreign Source Income INTECH Global Income Managed Volatility Fund
Income INTECH Global Income Managed Volatility Fund Australia 0.0066 0.0375 Austria 0.0045 0.0014 Belgium 0.0461 0.0138 Bermuda 0.0000 0.0059 Canada 0.0919 0.0275 Cayman Islands 0.0000 0.0044 China 0.0000
More informationAll residents are eligible. Benefit entitlement depends on both age and type of benefit.
Prepared by Hannover Life Re of Australasia. I SUMMARY Social Security Eligibility All residents are eligible. Benefit entitlement depends on both age and type of benefit. Individuals may be able to get
More informationEmployment Injuries and Occupational Diseases: Benefits (Temporary Incapacity) a), 2008
Austria Belgium In principle free choice. Persons insured in sickness insurance receive the benefits primarily from sickness insurance; the accident insurance fund, however, can assume the treatment at
More informationWorld Consumer Income and Expenditure Patterns
World Consumer Income and Expenditure Patterns 2014 14th edi tion Euromonitor International Ltd. 60-61 Britton Street, EC1M 5UX TableTypeID: 30010; ITtableID: 22914 Income Algeria Income Algeria Income
More informationPORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN THE UNITED KINGDOM
PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN THE UNITED KINGDOM Johanna Avato Human Development Network Social Protection and Labor The World Bank Background study March 2008 The UK Social
More informationSocial security: All residents in Denmark. Supplementary pension scheme (ATP): All wage earners aged between 16 and retirement age.
Prepared by PFA Pension and Danica Pension. I SUMMARY Social Security Eligibility Social security: All residents in Denmark. Supplementary pension scheme (ATP): All wage earners aged between 16 and retirement
More information- 2 - Chart 2. Annual percent change in hourly compensation costs in manufacturing and exchange rates, 2010-2011
For release 10:00 a.m. (EST) Wednesday, December 19, 2012 USDL-12-2460 Technical Information: (202) 691-5654 ilchelp@bls.gov www.bls.gov/ilc Media Contact: (202) 691-5902 PressOffice@bls.gov INTERNATIONAL
More informationAll non-agricultural employed persons. Farmers and some professionals are covered by different social insurance schemes.
Prepared by Compensa TU na Życie S.A. I SUMMARY Social Security Eligibility Retirement Age Contributions Retirement Benefits All non-agricultural employed persons. Farmers and some professionals are covered
More informationHealth Systems: Type, Coverage and Financing Mechanisms
Health Systems: Type, Coverage and Mechanisms Austria Belgium Bulgaria (2007) Czech Republic Denmark (2007) Estonia (2008). Supplementary private health Complementary voluntary and private health Public
More informationHow To Tax On Pension Income For Older People In European Countries
Austria Belgium Czech Republic Tax credit of EUR 400 for low pension income up to EUR 17,000; the tax credit is fully phased out once pension income equals EUR 25,000. pension income of maximum EUR 1,901.19.
More information41 T Korea, Rep. 52.3. 42 T Netherlands 51.4. 43 T Japan 51.1. 44 E Bulgaria 51.1. 45 T Argentina 50.8. 46 T Czech Republic 50.4. 47 T Greece 50.
Overall Results Climate Change Performance Index 2012 Table 1 Rank Country Score** Partial Score Tendency Trend Level Policy 1* Rank Country Score** Partial Score Tendency Trend Level Policy 21 - Egypt***
More informationEMEA BENEFITS BENCHMARKING OFFERING
EMEA BENEFITS BENCHMARKING OFFERING COVERED COUNTRIES SWEDEN FINLAND NORWAY ESTONIA R U S S I A DENMARK LITHUANIA LATVIA IRELAND PORTUGAL U. K. NETHERLANDS POLAND BELARUS GERMANY BELGIUM CZECH REP. UKRAINE
More informationINTERNATIONAL COMPARISONS OF HOURLY COMPENSATION COSTS
For release 10:00 a.m. (EST) Tuesday, March 8, 2011 USDL-11-0303 Technical Information: (202) 691-5654 ilchelp@bls.gov www.bls.gov/ilc Media Contact: (202) 691-5902 PressOffice@bls.gov INTERNATIONAL COMPARISONS
More information1 General facts on postings abroad and social security 2 Posting to EU or EEA countries or other agreement countries
Posting abroad 2010 Introduction This booklet is intended as a guide for employers and employees when planning a posting abroad. The booklet answers the following questions: Which country are the social
More informationEmployment Injuries and Occupational Diseases: Benefits (Temporary Incapacity) a), 2009
Austria Belgium In principle free choice. Persons insured in sickness insurance receive the benefits primarily from sickness insurance; the accident insurance fund, however, can assume the treatment at
More informationConsolidated International Banking Statistics in Japan
Total (Transfer Consolidated cross-border claims in all currencies and local claims in non-local currencies Up to and including one year Maturities Over one year up to two years Over two years Public Sector
More informationReporting practices for domestic and total debt securities
Last updated: 4 September 2015 Reporting practices for domestic and total debt securities While the BIS debt securities statistics are in principle harmonised with the recommendations in the Handbook on
More informationMIT U.S. Income Tax Presentation Non US Resident Students
MIT U.S. Income Tax Presentation Non US Resident Students PwC Boston Nabih Daaboul Carol McNeil Rich Wagman 1 Basic U.S. Tax Overview for International Students A foreign national is a person born outside
More informationEligibility All residents aged 20 and over. Employed persons as of age 17.
Prepared by Swiss Life. I SUMMARY Social Security Eligibility All residents aged 20 and over. Employed persons as of age 17. Retirement Age Contributions Retirement Disability 65M/64F For employed persons:
More informationPension rules for the self-employed in the EU, 2014 a)
Austria Belgium Bulgaria Croatia Cyprus Austria used to have a comprehensive special scheme both for farmers and for craftsmen and retailers until 31 Dec 2004. As of 1 Jan 2005 all pension systems were
More informationPORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN ITALY
PORTABILITY OF SOCIAL SECURITY AND HEALTH CARE BENEFITS IN ITALY Johanna Avato Human Development Network Social Protection and Labor The World Bank Background study March 2008 The Italian Social Security
More informationAs of 2014, the SIC contribution will increase to. 29.2 %, capped at 48times average monthly wage per year (CZK 1,242,432 for 2013)
Country Mandatory Social Security Mandatory Health Insurance (or other type if applicable) Austria 21,83% 18,07% 18,5% retirement pension ; 8,48 per month accident insurane; 7,65% health Belgium 35% of
More informationSummary of Social Security and Private Employee Benefits MALAYSIA
Private Employee Benefits MALAYSIA 2013 Your Local Link to IGP in MALAYSIA: AIA Bhd. AIA Bhd. is a leading insurer in Malaysia, where it has been doing business since 1948. It offers a suite of high-quality
More informationNone, it is paid out of general government revenue.
Prepared by Momentum. I SUMMARY Social Security Eligibility Social Security does not exist in the traditional way. Various benefits are paid subject to qualifying means testing. Only South African citizens
More informationUnited Kingdom. Old Age, Disability, and Survivors. United Kingdom. Exchange rate: US$1.00 = 0.64 pounds ( ). Qualifying Conditions
United Kingdom Exchange rate: US$1.00 = 0.64 pounds ( ). Old Age, Disability, and Survivors First laws: 1908 (old-age pension), 1911 (disability insurance), and 1925 (old-age and survivors insurance).
More informationMAUVE GROUP GLOBAL EMPLOYMENT SOLUTIONS PORTFOLIO
MAUVE GROUP GLOBAL SOLUTIONS PORTFOLIO At Mauve Group, we offer a variety of complete employee management services such as Global Employment Solutions (GES), Professional Employment Outsourcing (PEO),
More informationContract Work in Switzerland. A Brief Guide
Contract Work in Switzerland. A Brief Guide Introduction to Swissroll There are approximately 1,000,000 foreign employees in Switzerland, 25% of which commute from outside the country. Swissroll are registered
More informationAppendix 1: Full Country Rankings
Appendix 1: Full Country Rankings Below please find the complete rankings of all 75 markets considered in the analysis. Rankings are broken into overall rankings and subsector rankings. Overall Renewable
More informationConditions for entitlement to disability benefits, 2013
Austria Belgium Bulgaria Croatia Cyprus Reduction in capacity for work of 50%. Reduction of capacity for work of at least 66%. 50% reduction in working capacity/degree of disability. More than 50% reduction
More informationEnd-of-year Tax Tips for Expatriates
End-of-year Tax Tips for Expatriates Australian Taxation Seminar July 2010 Presented by: Geoff Taylor MBA CPA Presentation Overview Key issues covered in this presentation include: Determination of tax
More informationJapanese Social Insurance. (As of May 1, 2010)
Japanese Social Insurance (As of May 1, 2010) Contents Japanese Social Insurance Programs... 2 1. Health Insurance... 3... 3... 3 c. Benefits... 3 2. Welfare Pension Insurance... 4... 4... 4 c. Benefits...
More informationGlobal Dialing Comment. Telephone Type. AT&T Direct Number. Access Type. Dial-In Number. Country. Albania Toll-Free 00-800-0010 888-426-6840
Below is a list of Global Access Numbers, in order by country. If a Country has an AT&T Direct Number, the audio conference requires two-stage dialing. First, dial the AT&T Direct Number. Second, dial
More informationKnow the Facts. Aon Hewitt Country Profiles can help: Support a decision to establish or not establish operations in a specific country.
Aon Hewitt Country Profiles Your eguide to employment requirements and practices Profiles for nearly 90 countries worldwide Risk. Reinsurance. Human Resources. Know the Facts Whether you are a newcomer
More informationScale based on employee age. Total contributions to CPF range from 12.5% to 37% of wage.
Prepared by Prudential Assurance. I SUMMARY Social Security Eligibility Retirement Age Central Provident Fund (CPF) for employees who are Singapore citizens and Singapore permanent residents only. Work
More informationThe social security system is organized and implemented at national level by state bodies/ public institutions.
1 March 2009 PRESENTATION OF THE CROATIAN PENSION SYSTEM Croatian social security system is mostly the insurance based, with exception of family benefits (children allowance- doplatak za djecu) and the
More informationEmployment Injuries and Occupational Diseases: Benefits (Permanent Incapacity) a), 2005
Austria Belgium 20% (50% for pupils and students). Accident insurance fund. Review at any time possible in the first two years; thereafter at intervals of at least 1 year. No minimum level. Employment
More informationSummary of Social Security and Private Employee Benefits TURKEY
Private Employee Benefits TURKEY 2014 Your Local Link to IGP in Turkey: Allianz Yaşam ve Emeklilik and Yapi Kredi Sigorta Allianz Yaşam ve Emeklilik Allianz Yaşam ve Emeklilik, which operates in the private
More informationHow To Pay Out Of Pocket On A Friendsprovident Policy
Executive Income Protection Policy conditions Reference PN37 02.09 Contents Page 1 Introduction 2 2 Premiums 5 3 Insured benefit 6 4 Proportionate benefit 7 5 Rehabilitation benefit 8 6 Hospitalisation
More informationGlobal Insurance and Lending Market Data: Size, Segmentation and Forecast for Worldwide Markets
Global Insurance and Lending Market Data: Size, Segmentation and Forecast for Worldwide Markets Accident and health insurance commercial non-life insurance consumer lending life insurance and retirement
More informationFriends Life Protection Account Key features of Income Protection Cover
Protection Friends Life Protection Account Key features of Income Protection Cover Why is this document important? The Financial Services Authority is the independent financial services regulator. It requires
More informationPolicy Summary of Income Protection Cover
Policy Summary of Income Protection Cover FLIP/5332/Jun14 This policy summary contains key information about Friends Life Individual Protection Income Protection Cover. You should read this summary carefully
More informationComparison of Healthcare Systems in Selected Economies Part I
APPENDIX D COMPARISON WITH OVERSEAS ECONOMIES HEALTHCARE FINANCING ARRANGEMENTS Table D.1 Comparison of Healthcare Systems in Selected Economies Part I Predominant funding source Hong Kong Australia Canada
More informationIBN Glossary - Benefit Definitions. Accidental Death and Dismemberment
IBN Glossary - Benefit Definitions Accidental Death and Dismemberment Actuary - (Pension) Added Years Additional Voluntary Contributions (AVC) AVCs in house AVCs - FSAVCs AD&D provides coverage for death
More informationSummary of Social Security and Private Employee Benefits URUGUAY
Private Employee Benefits URUGUAY 2012 Your Local Link to IGP in URUGUAY: Network Partner Mapfre Uruguay Compañía de Seguros S.A. was established in 1995 and is the fourth largest insurance company in
More informationFirst and current law: 1965 (social security fund), with amendments.
Page 1 of 6 Social Security Programs Throughout the World: Africa, 2009 You are here: Social Security Online > Research, Statistics, & Policy Analysis > Program Descriptions > Social Security Programs
More informationClinical Trials. Local Trial Requirements
Clinical Trials Clinical trials insurance covers the legal liabilities of the insured in respect of clinical trials for bodily injury arising from the trial. The coverage provided by Newline is on the
More informationBT Premium Event Call and Web Rate Card
BT Managed Event and BT Self-Managed Event (also referred to as Express, Plus and Premium) Conference Bridge and Call for Booked Audio Conferencing Services will comprise the following for each phone-conference:
More informationInternational aspects of taxation in the Netherlands
International aspects of taxation in the Netherlands Individuals resident in the Netherlands are subject to income tax on their worldwide income. Companies established in the Netherlands are subject to
More informationChina. Old Age, Disability, and Survivors. China. Exchange rate: US$1.00 = 6.78 yuan. Regulatory Framework. Coverage. Qualifying Conditions
China Exchange rate: US$1.00 = 6.78 yuan. Old Age, Disability, and Survivors First law: 1951. Current laws: 1953 (regulations); 1978, 1995, 1997, 1999, and 2005 (directives); and 2009 (guideline on rural
More informationKorea, South. Old Age, Disability, and Survivors. Korea, South. Exchange rate: US$1.00 equals 945.30 won. Qualifying Conditions. Regulatory Framework
Korea, South Exchange rate: US$1.00 equals 945.30 won. Old Age, Disability, and Survivors First law: 1973 (national welfare pension). Current law: 1986 (national pension), with 1989, 1993, 1995, 1997,
More informationComposition of Premium in Life and Non-life Insurance Segments
2012 2nd International Conference on Computer and Software Modeling (ICCSM 2012) IPCSIT vol. 54 (2012) (2012) IACSIT Press, Singapore DOI: 10.7763/IPCSIT.2012.V54.16 Composition of Premium in Life and
More informationGlobal Effective Tax Rates
www.pwc.com/us/nes Global s Global s April 14, 2011 This document has been prepared pursuant to an engagement between PwC and its Client. As to all other parties, it is for general information purposes
More informationSocial assistance: 2% of covered payroll. Government. Social insurance: None; contributes as an employer. Social assistance: Any deficit.
Barbados Exchange rate: US$1.00 = 2.02 Barbadian dollars (B$). Old Age, Disability, and Survivors First law: 1937 (social assistance). Current law: 1966 (social insurance). Type of program: Social insurance
More informationSummary of Social Security and Private Employee Benefits HUNGARY
Private Employee Benefits HUNGARY 2014 Your Local Link to IGP in Hungary: AEGON Hungary Composite Insurance Company AEGON Hungary Composite Insurance Company was Hungary s sole insurance company until
More informationAll employees of companies with 20 or more employees working in the formal sector of the economy.
Prepared by Swiss Life Nework. I SUMMARY Social Security Eligibility Retirement Age All employees of companies with 20 or more employees working in the formal sector of the economy. 58M/F (60M/F for NPS)
More informationNetherlands Country Profile
Netherlands Country Profile EU Tax Centre March 2012 Key factors for efficient cross-border tax planning involving Netherlands EU Member State Yes Double Tax Treaties With: Albania Czech Rep. Jordan Nigeria
More informationDSV Air & Sea, Inc. Aerospace Sector. DSV Air & Sea, Inc. Aerospace
DSV Air & Sea, Inc. Aerospace Sector DSV Air & Sea, Inc. Aerospace Introduction to DSV DSV is a global supplier of transport and logistics services. We have offices in more than 70 countries and an international
More information2014 UXPA Salary Survey. November 2014
2014 UXPA Salary Survey November 2014 Summary 1355 Total Responses from 58 Countries Salary Data converted to US Dollars Median Salary decreased 2% (in constant US Dollars) to $92,500 Median US Salary
More informationSummary of Social Security and Private Employee Benefits TAIWAN (REPUBLIC OF CHINA)
Private Employee Benefits TAIWAN (REPUBLIC OF CHINA) 2013 Your Local Link to IGP in TAIWAN: Shin Kong Life Insurance Company Ltd. Shin Kong Life Insurance Company, Ltd., founded in 1963, provides a range
More informationAustralia. Old Age, Disability, and Survivors. Australia. Exchange rate: US$1.00 equals 1.32 Australian dollars (A$). Qualifying Conditions
Australia Exchange rate: US$1.00 equals 1.32 Australian dollars (A$). Old Age, Disability, and Survivors First laws: 1908 (old-age and disability) and 1942 (widows). Current laws: 1991 (social security),
More informationNinth United Nations Survey of Crime Trends and Operations of Criminal Justice Systems POLICE
Indicators as defined by the (- ) POLICE 2. Crimes recorded in criminal (police) statistics, by type of crime including attempts to commit crimes 2.2 Total recorded intentional homicide, completed (c)
More informationStudent visa and temporary graduate visa programme trends
Student visa and temporary graduate visa programme trends 2008-09 to 2014-15 This page is left blank intentionally. Table of Contents Page About this report 1 Enquiries 1 Definition of terms 2 Background
More informationFREQUENTLY ASKED QUESTIONS: EMPLOYER MEDICAL OBLIGATIONS FOR FOREIGN WORKERS S PASS HOLDERS
FREQUENTLY ASKED QUESTIONS: EMPLOYER MEDICAL OBLIGATIONS FOR FOREIGN WORKERS S PASS HOLDERS (I) Q1 A1 Medical Obligations under Employment of Foreign Manpower Act What are the medical obligations of employers
More informationMalta Companies in International Tax Structuring February 2015
INFORMATION SHEET No. 126 Malta in International Tax Structuring February 2015 Introduction Malta is a reputable EU business and financial centre with an attractive tax regime and sound legislative framework.
More informationDoD Financial Management Regulation Volume 7B, Chapter 53 + June 2004
SUMMARY OF MAJOR CHANGES TO DOD 7000.14-R, VOLUME 7B, CHAPTER 53 "SURVIVOR BENEFIT PLAN (SBP) - TAXABILITY OF ANNUITIES" Substantive revisions are denoted by a + preceding the section, paragraph, table
More informationSWECARE FOUNDATION. Uniting the Swedish health care sector for increased international competitiveness
SWECARE FOUNDATION Uniting the Swedish health care sector for increased international competitiveness SWEDEN IN BRIEF Population: approx. 9 800 000 (2015) GDP/capita: approx. EUR 43 300 (2015) Unemployment
More informationContents. Injury Benefit
Injury Benefit Contents 1 What is Injury Benefit? 3 2 How do I qualify? 4 3 How much can I get? 5 4 How do I get my payment? 8 5 How long does payment last? 9 6 When and how do I apply? 9 7 Can I get Injury
More informationAn introduction to the World Federation of Occupational Therapists (WFOT)
An introduction to the World Federation of Occupational Therapists (WFOT) WHAT IS THE WORLD FEDERATION OF OCCUPATIONAL THERAPISTS? The key international representative for occupational therapists and occupational
More informationSummary of Social Security and Private Employee Benefits FINLAND
Private Employee Benefits FINLAND 2014 Your Local Link to IGP in Finland: Mandatum Life Insurance Company Limited Mandatum Life Insurance Company Limited, formerly known as Sampo Life, is one of the most
More informationThe big pay turnaround: Eurozone recovering, emerging markets falter in 2015
The big pay turnaround: Eurozone recovering, emerging markets falter in 2015 Global salary rises up compared to last year But workers in key emerging markets will experience real wage cuts Increase in
More informationTHE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY
THE ADVANTAGES OF A UK INTERNATIONAL HOLDING COMPANY Ideal Characteristics for the Location of an International Holding Company Laurence Binge +44 (0)1372 471117 laurence.binge@woolford.co.uk www.woolford.co.uk
More informationInternational Training Course on Preventive and Protective Measures against Insider Threats at Nuclear Facilities PROSPECTUS
J0-TR-45632 International Training Course on Preventive and Protective Measures against Insider Threats at Nuclear Facilities Funded through the IAEA s Nuclear Security Fund PROSPECTUS Title: Place: International
More informationSupported Payment Methods
Supported Payment Methods Global In the global payments market, credit cards are the most popular payment method. However, BlueSnap expands the payment selection by including not only the major credit
More informationTHE ORGANISATION AND FINANCING OF HEALTH CARE SYSTEM IN LATVIA
THE ORGANISATION AND FINANCING OF HEALTH CARE SYSTEM IN LATVIA Eriks Mikitis Ministry of Health of the Republic of Latvia Department of Health Care Director General facts, financial resources Ministry
More informationFriends Life Protection Account Key features of Mortgage Income Protection Cover
Protection Friends Life Protection Account Key features of Mortgage Income Protection Cover Why is this document important? The Financial Services Authority is the independent financial services regulator.
More informationCMMI for SCAMPI SM Class A Appraisal Results 2011 End-Year Update
CMMI for SCAMPI SM Class A 2011 End-Year Update Software Engineering Institute Carnegie Mellon University Pittsburgh, PA 15213 1 Outline Introduction Current Status Community Trends Organizational Trends
More informationDOING BUSINESS IN SINGAPORE
DOING BUSINESS IN SINGAPORE INTRODUCTION Singapore is often regarded as one of the world s easiest place to do business (e.g. Doing Business 2012 report by the World Bank). Singapore has excellent infrastructure,
More informationIntroducing Clinical Trials Insurance Services Ltd
Introducing Clinical Trials Insurance Services Ltd Important Staff Richard Kelly Managing Director Richard joined CTIS in 2006 having previously managed the Pharmaceutical wholesale division at Heath Lambert
More informationSupported Payment Methods
Sell Globally in a Snap Supported Payment Methods Global In the global payments market, credit cards are the most popular payment method. However, BlueSnap expands the payment selection by including not
More information