Employee Benefits in South Afric

Dec 19, 2014 – Navi Mumbai, India: Marketreportsonindia.com presents a report on “Employee Benefits in South Africa.” The private voluntarily pillar covers pensions, short-term, work-injury and healthcare benefits, and is usually voluntary but can become obligatory based on a company’s policy, work, industry and sector.

Synopsis

The report provides in-depth industry analysis, information and insights of the employee benefits in South Africa, including:

- Overview of the state and compulsory benefits in South Africa

- Detailed information about the private benefits in South Africa

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

- The regulatory framework and recent regulations relating to South African employee benefits

Summary

South Africa has a well-developed social security system, which covers employees and their dependents, unemployed persons and individuals. The Department of Labor (DoL) is the central labor administration body and is regulated by Ministry of Labor. The South African social security system is composed of three pillars: the non-contributory pillar (taxed pillar), contributory pillar and private voluntary pillar. The contributory pillar includes social insurance, while the non-contributory pillar includes social assistance and social relief distress.

Scope

This report provides a detailed analysis of employee benefits in South Africa:

- 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, medical benefits, workmen’s compensation, maternity and paternity benefits, family benefits, unemployment, minimum resources, long-term care insurance and private benefits

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