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Employee Benefits in Indonesia

  • February 2015
  • -
  • Timetric
  • -
  • 51 pages

Synopsis
The Indonesian social security system comprises the provident fund system and social insurance system. Social security in Indonesia covers a small proportion of the population with minimal benefits. The employment-linked systems of contributory social insurance only cover 17% of employed persons, while more than 80% of people employed in the informal economy are not covered under the social security system. With effect from January 1, 2014, a new regime of national social security has been implemented in Indonesia with an intention to cover all employees and residents under one healthcare system by 2019, as well as one employment benefits system by 2029. Under the new system, Badan Penyelenggara Jaminan Sosial (BPJS) Healthcare (BPJS Kesehatan) will administer healthcare benefits and BPJS Employment (BPJS Ketenagakarjaan) will administer employment benefits which cover against the risks of old age, death, occupational accidents and diseases. The employee benefits market in Indonesia is expected to register robust growth, as the country’s government is planning to be one of the world’s six largest global economies by 2030 as part of its long-term strategy.

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

- An overview of state and compulsory benefits in Indonesia

- Detailed information about private benefits in Indonesia

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

- The regulatory framework of employee benefits in Indonesia

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

- 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, long-term disability benefits, medical benefits, workmen’s compensation, maternity and paternity benefits, family benefits, social assistance, redundancy benefit, leave and public holidays and private benefits

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

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

- Assess Indonesia’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 Indonesia

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

Key Highlights
- The Indonesian social security system comprises the provident fund system and social insurance system

- The provident fund system aims to cover employees working for a firm with 10 or more employees, or earning a monthly payroll of at least IDR1.0 million (US$86.5) against the risk of retirement and disability.

- The social insurance system aims to cover employees who work for a firm with 10 or more employees and a monthly payroll of at least IDR1.0 million (US$86.5) against the risk of death, medical and occupational accidents and disease.

Table Of Contents

Employee Benefits in Indonesia
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 Indonesia
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 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 Typical employer practice
6.3.6 Employee and employer contributions
6.3.7 Taxation
6.4 Medical Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Typical employer practice
6.4.5 Employee and employer contributions
6.5 Workmen's Compensation
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
6.6 Maternity and Paternity Benefits
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.7 Family 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 Social Assistance
6.8.1 Introduction
6.8.2 Types of social assistance
6.8.3 Eligibility
6.8.4 Benefits
6.8.5 Payment options
6.9 Redundancy Benefit
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Employee and employer contributions
6.1 Leave and Public Holidays
6.10.1 Introduction
6.10.2 Annual leave
6.10.3 Sick leave
6.10.4 Personal leave
6.10.5 Public holidays
7 Private Benefits
7.1 Retirement Benefits
7.2 Disability Benefits
7.3 Death Benefits
7.4 Work Injury Benefits
7.5 Medical and Health Benefits
7.6 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$-IDR
8.1.8 Labor force
8.1.9 Unemployment rate
8.1.10 Gross national disposable income
8.1.11 Household consumption expenditure
8.2 Demographics
8.2.1 Total population
8.2.2 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: Indonesia - Country Statistics
Table 3: Indonesia - Prohibited Positions for Foreign Workers
Table 4: Contribution Rates - Retirement, Death and Disability Benefits
Table 5: Indonesian Workmen's Compensation - Employer's Contributions
Table 6: Indonesian Taxation Rates - Lump-Sum Retirement Benefits
Table 7: Indonesia - Sick Leaves
Table 8: Indonesia - Personal Leave
Table 9: Indonesia - Public Holidays

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

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