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Market Future : Employee Benefits Market in Hong Kong 2018
by smit510 · January 4 Wholesale Larry Fitzgerald Jersey , 2019

ResearchMoz presents professional and in-depth study of “Employee Benefits in Hong Kong 2018”.


Summary


Hong Kongs social welfare system provides cover to all residents in the event of disability, old age, death, unemployment Wholesale Chandler Jones Jersey , and sickness. The public pension pillar covers individuals in need of assistance. The occupational pillar, which is a compulsory defined-contribution (DC) scheme, was launched in 2000, and the third pillar is a voluntary pension savings scheme.


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The Social Welfare Department (SWD) administers Hong Kongs non-contributory social security system Wholesale Josh Rosen Jersey , which includes the Comprehensive Social Security Assistance (CSSA) scheme, the Social Security Allowance (SSA) scheme, the Criminal and Law Enforcement Injuries Compensation (CLEIC) scheme, the Traffic Accident Victims Assistance (TAVA) scheme Wholesale David Johnson Jersey , the Support for Self-Reliance (SFS) scheme and Emergency Relief (ER).


The report provides in-depth industry analysis, information and insights of the employee benefits in Hong Kong, including: overview of the state and compulsory benefits in Hong Kong, detailed information about the private benefits in Hong Kong Wholesale Hakeem Butler Jersey , insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Hong Kong.


Key Highlights


– Hong Kongs social welfare system is aimed at financially vulnerable individuals and those living in economic hardship.
– Hong Kongs social security system is governed by the SWD.
– Social security in Hong Kong is the responsibility of the government, which mainly provides non-contributory schemes to individuals.
– The main change to Hong Kongs social welfare system in the last decade was the introduction of the compulsory occupational pillar, the MPF.


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Scope


– This report provides a detailed analysis of employee benefits in Hong Kong.
– It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
– It covers an exhaustive list of employee benefits Wholesale Zach Allen Jersey , including retirement benefits, death in service, long-term disability benefits, medical benefits Wholesale Andy Isabella Jersey , workmen’s compensation insurance, maternity and paternity benefits, family benefits, unemployment Wholesale Byron Murphy Jersey , leave and private benefits
– It highlights the economic and regulatory situations relating to employee benefits in Hong Kong.


Reasons to buy


– Make strategic decisions using in-depth information related to employee benefits in Hong Kong.
– Assess Hong Kongs employee benefits market, including state and compulsory benefits and private benefits.
– Gain insights into the key employee benefit schemes offered by private employers in Hong Kong.
– Gain insights into key organizations governing Hong Kongs employee benefits, and their impact on companies.


Table of Contents


1 EXECUTIVE SUMMARY 2


2 INTRODUCTION 10
2.1 What is this Report About? 10
2.2 Definitions 10


3 COUNTRY STATISTICS 14


4 OVERVIEW OF EMPLOYEE BENEFITS IN HONG KONG 15


5 REGULATIONS 16


6 STATE AND COMPULSORY BENEFITS 21
6.1 Retirement Benefits 32
6.1.1 Introduction 32
6.1.2 Types of Retirement Plan 32
6.1.3 Eligibility 32
6.1.4 Age 33
6.1.5 Benefits 33


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6.1.6 Payment Options 34
6.1.7 Typical Employer Practice 34
6.1.8 Employee and employer contributions 34
6.1.9 Taxation 35
6.2 Death in Service 37
6.2.1 Introduction 37
6.2.2 Eligibility 37


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