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Employee Benefits in Ukraine

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

Summary

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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

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