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Employee Benefits in Israel

  • February 2015
  • -
  • Timetric
  • -
  • 106 pages

Synopsis
Israel has a well-established social security system that provides a series of means-tested benefits and grants to people who require financial assistance. The system encompasses income-transfer programs administered by the National insurance institute and other government ministries that provide a safeguard for persons and their dependents with inadequate sources of income, or those facing unforeseen expenses. Programs are intended to reduce poverty, provide citizens with an acceptable standard of living and support children and the unemployed. The National Insurance covers all citizens, permanent residents and Jewish immigrants.

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

- An overview of state and compulsory benefits in Israel

- Detailed information about private benefits in Israel

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

- The regulatory framework of employee benefits in Israel

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

- 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, maternity and paternity benefits, minimum resources, long-term care, unemployment, hostile action causalities, benefits for prisoners of Zion and families of martyrs, reserve service benefit, benefits for bankruptcy and corporate liquidation, counseling services for elderly, maintenance child allowance, benefits for children with disabilities, benefits for a child orphaned due to domestic violence, accident injury benefits, volunteer’s rights, righteous gentiles and private benefits.

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

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

- Assess Israel’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 Israel

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

Key Highlights
- The social security system consists of income transfer programs administered by the National Insurance Institute and Ministry of Social Affairs.

- Programs designed for people living in poverty provide limited assistance and restricts the country’s ability to cope effectively with high levels of disparity.

- Private employee benefits are granted in addition to state and compulsory benefits. Private health insurance, voluntary group personal accident insurance, paid vacation, are some of the benefits granted.

Table Of Contents

Employee Benefits in Israel
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 Israel
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 Employer and employee 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 Employer and employee 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 Typical employer practice
6.3.6 Employer and employee contributions
6.3.7 Taxation
6.4 Workers' Compensation Insurance
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 Employer and employee contributions
6.4.7 Taxation
6.5 Maternity and Paternity Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment options
6.5.5 Employer and employee contributions
6.5.6 Taxation
6.6 Minimum Resources
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment options
6.6.5 Employer and employee contributions
6.6.6 Taxation
6.7 Long-Term Care
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment options
6.7.5 Employee and employer contribution
6.8 Unemployment
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment Options
6.8.5 Employer and employee contributions
6.8.6 Taxation
6.9 Hostile Action Casualties
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment option
6.9.5 Employer and employee contributions
6.1 Benefits for Prisoners of Zion and Families of Martyrs
6.10.1 Introduction
6.10.2 Eligibility
6.10.3 Benefits
6.10.4 Payment option
6.10.5 Employer and employee contributions
6.11 Reserve Service Benefit
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Payment option
6.11.5 Employer and employee contributions
6.11.6 Taxation
6.12 Benefits for Bankruptcy and Corporate Liquidation
6.12.1 Introduction
6.12.2 Eligibility
6.12.3 Benefits
6.12.4 Payment option
6.12.5 Taxation
6.13 Counseling Services for Elderly
6.13.1 Introduction
6.13.2 Eligibility
6.13.3 Benefits
6.14 Maintenance
6.14.1 Introduction
6.14.2 Eligibility
6.14.3 Benefits
6.14.4 Payment option
6.15 Child Allowance
6.15.1 Introduction
6.15.2 Eligibility
6.15.3 Benefits
6.15.4 Payment option
6.15.5 Employer and employee contributions
6.16 Benefits for Children with Disabilities
6.16.1 Introduction
6.16.2 Eligibility
6.16.3 Benefits
6.16.4 Payment option
6.16.5 Employer and employee contributions
6.17 Benefits for a Child Orphaned Due to Domestic Violence
6.17.1 Introduction
6.17.2 Eligibility
6.17.3 Benefits
6.17.4 Payment option
6.18 Accident Injury Benefits
6.18.1 Introduction
6.18.2 Eligibility
6.18.3 Benefits
6.18.4 Payment option
6.18.5 Employer and employee contributions
6.19 Volunteer's Rights
6.2 Righteous Gentiles
7 Private 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 split by key sector
8.1.6 Inflation rate
8.1.7 Annual average exchange rate US$-ILS
8.1.8 Unemployment rate
8.1.9 Household consumption expenditure
8.1.10 Gross national disposable income
8.2 Demographics
8.2.1 Labor force
8.2.2 Total population
8.2.3 Urban and rural populations
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: Israel - Country Statistics, 2012-2014
Table 3: Israel - Contributions of Salaried Workers, 2014
Table 4: Israel - Contributions of Salaried Workers, 2014
Table 5: Israel - Contributions of Self-Employed Persons, 2014
Table 6: Israel - Contributions of Unemployed Persons, 2014
Table 7: Israel - Contributions of Persons Receiving Early Pension, 2014
Table 8: Israel - Contributions, Domestic Workers, 2014
Table 9: Israel - Contributions, Domestic Workers, 2014
Table 10: Israel - Contributions, Domestic Workers, 2014
Table 11: Israel - Contributions of Residents of the Palestinian Authority or Judea and Sameria in Settlement or in Military Sites, 2014
Table 12: Immigration Age for Insured Men
Table 13: Israel - Immigration Age for Insured Women, 2014
Table 14: Israel - Immigration Age for Unmarried Women, 2015
Table 15: Israel - Retirement Age for Men (First Age), 2015
Table 16: Israel - Retirement Age for Women (First Age), 2015
Table 17: Israel - Retirement Age for Women (Second Age), 2015
Table 18: Israel - Amount of Old-Age Pension, 2014
Table 19: Israel - Income Supplement, Less than 70 Years, 2014
Table 20: Israel - Income Supplement, 70-80 Years, 2014
Table 21: Israel - Income Supplement, More than 80 Years, 2014
Table 22: Israel - Immigration Age of a Deceased Man, 2015
Table 23: Israel - Survivors' Pension, 2014
Table 24: Israel - Income Supplement, Less than 70 Years of Age, 2014
Table 25: Israel - Income Supplement, Between 70 and 80 Years of Age, 2014
Table 26: Israel - Income Supplement, More than 80 Years of Age, 2014
Table 27: Israel - Polio Victims, Lump Sum Compensation, 2014
Table 28: Israel - Income Support, those Aged 20-25 Required to Report Employment Service Bureau, 2014
Table 29: Israel - Income Support Benefit, Those Aged 20-25 Years not Required to Report to the Employment Service Bureau, and Those not Entitled to Benefit in December 2002 Aged 25-55, 2014
Table 30: Israel - Income Support Benefit, Those Aged 20-25 not Required to Report to the Employment Service Bureau, and Those Aged 25-55 Entitled to Benefits in December 2002, 2014
Table 31: Israel - Income Support Benefit, More than 55 Years, 2014
Table 32: Israel - Long-Term Care Benefit, Income Limit, 2014
Table 33: Israel - Unemployment Benefit, Less than 28 Years, 2014
Table 34: Israel - Unemployment Benefit, More Than or Equal to 28 Years, 2014
Table 35: Israel - Unemployment Benefit, Maximum Duration, 2014
Table 36: Israel - Hostile Action, Lump Sum Benefit, 2014
Table 37: Israel - Hostile Action, Monthly Grant, 2014
Table 38: Israel - Hostile Action, Increment In Disability Benefits (More than or Equal to 55 Years), 2014
Table 39: Israel - Hostile Action, Indigent Person Benefits, 2014
Table 40: Israel - Hostile Action, Benefits for Persons with No Livelihood, 2014
Table 41: Israel - Hostile Action, Benefits, 2014
Table 42: Israel - Hostile Action, Early Retirement Benefits, 2014
Table 43: Israel - Maintenance, 2014
Table 44: Israel - Maintenance, 2014
Table 45: Israel - Child Allowance, Born After May 31, 2003
Table 46: Israel - Disability Benefit for Children, 2014

List of Figures
Figure 1: Israel - Organizations in the Israeli Social Security System, 2015
Figure 2: Israeli GDP at Constant Prices (US$ Billion), 2008-2012
Figure 3: Israeli GDP Per Capita at Constant Prices (US$), 2008-2012
Figure 4: Israeli GDP at Current Prices (US$ Billion), 2008-2012
Figure 5: Israeli GDP per Capita at Current Prices (US$), 2008-2012
Figure 6: Israeli GDP by Key Sector (%), 2007 and 2012
Figure 7: Israeli Inflation Rate (%), 2008-2013
Figure 8: Israeli Annual Average Exchange Rate US$-ILS, 2008-2012
Figure 9: Israeli Unemployment Rate, (%), 2008-2012
Figure 10: Israeli Household Consumption Expenditure (US$ Billion), 2008-2012
Figure 11: Israeli Gross National Disposable Income (US$ Billion), 2008-2012
Figure 12: Israeli Size of Labor Force (Million), 2008-2012
Figure 13: Israeli Total Population (Million), 2008-2012
Figure 14: Israeli Urban and Rural Populations (%), 2008-2012

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