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Employee Benefits in Ireland

  • September 2014
  • -
  • Timetric
  • -
  • 62 pages

The report provides in-depth industry analysis, information and insights into employee benefits in Ireland, including:
- An overview of state and compulsory benefits in Ireland
- Detailed information about private benefits in Ireland
- Insights into the various central institutions responsible for the administration of the different branches of social security
- The regulatory framework and recent regulations relating to Irish employee benefits

The Irish social security system covers company employees, self-employed persons, the unemployed, people with less than minimum resources and dependent family members of deceased employees. The Irish social welfare system is divided into social insurance payments, means-tested payments and universal payments. The payment of social insurance is mandatory; both employers and employees must contribute pay related social insurance (PRSI) contributions to the national Social Insurance Fund (SIF). Self-employed persons pay Class S social insurance contributions directly to the Revenue Commissioners, although these are not required to after the age of 66. A range of state benefits are available for Irish residents, which are subject to a number of conditions other than social insurance contribution requirements. Companies across the country also provide customized private benefits to their employees as a supplement to state benefits.

This report provides a detailed analysis of employee benefits in Ireland:
- 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 benefits, long-term disability benefits, short-term sickness benefits, medical benefits, workmen’s compensation insurance, maternity and paternity benefits, family benefits, minimum resources, unemployment and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Ireland

Reasons To Buy
- Make strategic decisions using in-depth information related to Irish employee benefits
- Assess the Irish employee benefits market, including state and compulsory benefits and private benefits
- Gain insights into the key employee benefit schemes offered by private employers in Ireland
- Gain insights into key regulations governing Irish employee benefits, and their impact on companies

Key Highlights
- The Ireland social security system covers a large proportion of the population, and plays a significant role in the country’s employee benefits market
- The social security system consists of eleven branches, which form the pillars of the social security system
The main state and compulsory benefits in force in Ireland include: old age, survivor's and disability pension; unemployment benefits; short-term sickness benefits; workmen’s compensation insurance; insurance for occupational diseases; long-term care insurance; family benefits; maternity benefits; compulsory insurance for medical care and benefits; and minimum resource benefits.
- Both social security and private employee benefits are popular in ireland
- Private benefits provide access to a range of services that improve employees’ quality of life

Table Of Contents

Employee Benefits in Ireland
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 Ireland
5 Regulations
6 State and Compulsory Benefits
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of retirement plans
6.1.3 Eligibility
6.1.4 Age
6.1.5 Pensionable salary
6.1.6 Benefits
6.1.7 Payment option
6.1.8 Typical employer practice
6.1.9 Employee and employer contribution
6.1.10 Taxation
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment options
6.2.5 Typical employer practice
6.2.6 Employee and employer contribution
6.2.7 Taxation
6.3 Long-term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment options
6.3.5 Typical employer practice
6.3.6 Employee and employer contribution
6.3.7 Taxation
6.4 Short-term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment options
6.4.5 Typical employer practice
6.4.6 Employee and employer contribution
6.4.7 Taxation
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment options
6.5.5 Typical employer practice
6.5.6 Employee and employer contribution
6.5.7 Taxation
6.6 Workmen's Compensation
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment options
6.6.5 Employee and employer contribution
6.6.6 Taxation
6.7 Maternity and Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment options
6.7.5 Employee and employer contributions
6.7.6 Taxation
6.8 Family Benefits
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment options
6.8.5 Employee and employer contribution
6.8.6 Taxation
6.9 Unemployment Benefits
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment options
6.9.5 Employee and employer contribution
6.9.6 Taxation
6.1 Minimum Resources
6.10.1 Introduction
6.10.2 Eligibility
6.10.3 Benefits
6.10.4 Payment options
6.10.5 Employee and employer contribution
6.10.6 Taxation
6.11 Long-term Care Insurance
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Payment options
6.11.5 Employee and employer contribution
6.11.6 Taxation
6.12 Treatment Benefits
6.13 Social Assistance Benefits
7 Private Benefits
7.1 Retirement Benefits
7.2 Disability and Sickness Benefits
7.3 Death in Service
7.4 Medical Benefits
7.5 Other Benefits
8 Macroeconomic Indicators
8.1 Economic Performance
8.1.1 GDP at constant prices (US dollars)
8.1.2 GDP per capita at constant prices (US dollars)
8.1.3 GDP at current prices (US dollars)
8.1.4 GDP per capita at current prices (US dollars)
8.1.5 GDP by key sectors
8.1.6 Inflation rate
8.1.7 Annual average exchange rate US$-EUR
8.1.8 Unemployment rate
8.1.9 Household consumption expenditure
8.1.10 Gross national disposable income
8.2 Demographics
8.2.1 Total population
8.2.2 Labor force
8.2.3 Urban and rural population
9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer

List of Tables
Table 1: Definitions
Table 2: Ireland - Country Statistics
Table 3: Ireland - Recent Amendments to Regulations
Table 4: Irish Overall Social Insurance Rates - Employee and Employer Contributions
Table 5: Irish Monthly Child Benefits Paid in 2014
Table 6: Irish Treatment Benefits
Table 7: Irish Maximum Member's Pension at Retirement Age

List of Figures
Figure 1: Irish GDP at Constant Prices (US$ Billion), 2008-2012
Figure 2: Irish GDP Per Capita at Constant Prices (US$), 2008-2012
Figure 3: Irish GDP at Current Prices (US$ Billion), 2008-2012
Figure 4: Irish GDP Per Capita at Current Prices (US$), 2008-2012
Figure 5: Irish GDP by Key Segments (%), 2008-2012
Figure 6: Irish Inflation Rate (%), 2007-2013
Figure 7: Irish Annual Average Exchange Rate US$-EUR, 2008-2012
Figure 8: Irish Unemployment Rate (%), 2008-2012
Figure 9: Irish Household Consumption Expenditure (Billions), 2008-2012
Figure 10: Irish Gross National Disposable Income (US$ Billion), 2008-2012
Figure 11: Irish Total Population (Million), 2008-2012
Figure 12: Irish Size of Labor Force (Million), 2008-2012
Figure 13: Irish Urban and Rural Population (%), 2008-2012

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