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  5. > Employee Benefits in Ukraine

Employee Benefits in Ukraine

  • January 2015
  • -
  • Timetric
  • -
  • 63 pages

Synopsis
Following its declaration of independence, Ukraine initiated socio-economic reforms and initiated the national social security system. The system is divided into Compulsory State Social insurance, funded by employee and employer contributions, and Family and Social Benefits and Services, financed by the government. The country’s transition to an open-market economy had adverse effects on its employment rate and standards of living, leading to economic depression and hyperinflation. However, economic and social reforms are in process, with the intervention of the International Monetary Fund (IMF).

Summary
The report provides in-depth industry analysis, information and insights into employee benefits in Ukraine, including:

- An overview of state and compulsory benefits in Ukraine

- Detailed information about private benefits in Ukraine

- Insights into various central institutions responsible for the administration of the different branches of social security

- The regulatory framework of employee benefits in Ukraine

Scope
This report provides a detailed analysis of employee benefits in Ukraine:

- 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, maternity and paternity benefits, family benefits, minimum resources, annual vacations, unemployment and private benefits.

- It highlights the economic and regulatory situations relating to employee benefits in Ukraine.

Reasons To Buy
- Make strategic decisions using in-depth information related to employee benefits in Ukraine.

- Assess Ukraine’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 Ukraine.

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

Key Highlights
- Current social protection system of Ukraine includes two components – The Compulsory State Social Insurance and State Social Assistance. State Social Insurance is a contributory scheme, formed at the expense of employers and employees

- State Social Assistance, also called as Family and Social Benefits and Services, is a non-contributory scheme which is funded by the State Budget

- Private benefits are not widely offered in Ukraine due to its poor economic position. The recent political crisis has led to economic deterioration, and most companies are reducing manpower costs

Table Of Contents

Employee Benefits in Ukraine
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 Ukraine
5 Regulations
6 State and Compulsory Benefits
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of retirement plan
6.1.3 Eligibility
6.1.4 Age
6.1.5 Pensionable salary
6.1.6 Benefits
6.1.7 Payment options
6.1.8 Typical employer practice
6.1.9 Employee and employer contributions
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 contributions
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 Employee and employer contributions
6.3.6 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 contributions
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 contributions
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 contributions
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 contributions
6.8.6 Taxation
6.9 Minimum Resources
6.9.1 General system
6.9.2 Compensation to low-income families
6.9.3 Cost of utility services
6.9.4 Compensation for additional costs
6.9.5 Guarantee of income for elder persons
6.9.6 Payment options
6.1 Annual Vacations
6.10.1 Introduction
6.10.2 Duration of leave
6.10.3 Procedure and terms of annual leave
6.10.4 Transfer of annual leave
6.10.5 Financial compensation for unused annual leave
6.11 Unemployment
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Payment Options
6.11.5 Employee and employer contributions
6.11.6 Taxation
7 Private Benefits
7.1 Retirement Benefits
7.2 Medical and Health Benefits
7.3 Other Benefits
8 Macroeconomic Indicators
8.1 Economic Performance
8.1.1 GDP at constant prices (US$)
8.1.2 GDP per capita at constant prices (US$)
8.1.3 GDP at current prices (US$)
8.1.4 GDP per capita at current prices (US$)
8.1.5 GDP by key sector
8.1.6 Inflation rate
8.1.7 Annual average exchange rate US$-UAH
8.1.8 Labor force
8.1.9 Unemployment rate
8.1.10 Gross national disposable income
8.2 Demographics
8.2.1 Total population
8.2.2 Urban and rural populations
8.2.3 Age distribution
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: Ukraine - Country Statistics
Table 3: Employer and Employee Social Security Contributions
Table 4: Retirement Age for Men in Selected Sectors
Table 5: Retirement Age for Women According to Law 3668
Table 6: Retirement Eligibility for Women Aged Below 60 Years
Table 7: Minimum Contributions Period for Disability Pension - Groups I and Group II
Table 8: Minimum Contribution Periods for Disability Pension - Group III
Table 9: Special Allowance for Child Care
Table 10: Minimum Subsistence Level for 2014
Table 11: Criteria to Receive Subsidies on Costs of Utility Services
Table 12: Subsidy on Cost of Utility Services
Table 13: Calculation of Unemployment Benefit
Table 14: Payment of Unemployment Benefit

List of Figures
Figure 1: Main Organizations of Ukrainian Social Security System
Figure 2: Ukraine GDP at Constant Prices (US$ Billion), 2008-2012
Figure 3: Ukraine GDP Per Capita at Constant Prices (US$), 2008-2012
Figure 4: Ukraine GDP at Current Prices (US$ Billion), 2008-2012
Figure 5: Ukraine GDP Per Capita at Current Prices (US$), 2008-2012
Figure 6: Ukraine GDP by Key Sector (%), 2008 and 2011
Figure 7: Ukraine Inflation Rate (%), 2008-2012
Figure 8: Ukraine Annual Average Exchange Rate US$-UAH, 2008-2012
Figure 9: Ukraine Size of Labor Force (Million), 2008-2012
Figure 10: Ukraine Unemployment Rate (%), 2008-2012
Figure 11: Ukraine Gross National Disposable Income (US$ Billion), 2007-2011
Figure 12: Ukrainian Total Population (Million), 2008-2012
Figure 13: Ukrainian Urban and Rural Populations (%), 2008-2012
Figure 14: Ukrainian Age Distribution (%), 2008-2012

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