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Employee Benefits in Venezuela 2018

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Details

Employee Benefits in Venezuela 2018

Summary

The Venezuelan social security system was established in 1940, and was later amended in 1966, 1989, 1991 and 2002. It is based on solidarity and the redistribution of funds, and not on individual capitalization. It is governed by the Venezuelan Institute of Social Security-Instituto Venezolano de los Seguros Sociales (IVSS)-and comprises four systems: the healthcare services system; the social insurance system; the housing system; and the work health and safety scheme. It covers the Venezuelan workforce, union leaders, members of cooperatives, domestic servants, taxi drivers and their dependents. The system does not cover temporary and casual workers or the self-employed.

The report provides in-depth industry analysis, information and insights of the employee benefits in Venezuela, including: overview of the state and compulsory benefits in Venezuela, detailed information about the private benefits in Venezuela, 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 Venezuela.

Key Highlights

- State benefits are granted by the government of a particular country to all of its employed and self-employed residents, as well as their dependents.

- The branches of the social security system manage and administer various benefits.

- The Venezuelan social security system was established based on solidarity and the redistribution of funds.

- The system provides coverage for health, maternity and paternity, sickness, work-related accidents and non-work-related accidents, disability, involuntary unemployment, old-age, widowhood, orphan hood and expenses related to family, household and recreation to workers and their dependents.

Scope

- This report provides a detailed analysis of employee benefits in Venezuela.

- 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 insurance, maternity and paternity benefits, family benefits, unemployment, leave and private benefits

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

Reasons to buy

- Make strategic decisions using in-depth information related to employee benefits in Venezuela.

- Assess Venezuelan employee benefits market, including state and compulsory benefits and private benefits.

- Gain insights into the key employee benefit schemes offered by private employers in Venezuela.

- Gain insights into key organizations governing Venezuelan employee benefits, and their impact on companies.

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Table Of Content

Scope

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 VENEZUELA

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 Benefits

6.1.6 Payment options

6.1.7 Employee and employer contributions

6.1.8 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 Service

6.2.6 Employee and employer contributions

6.2.7 Taxation

6.3 Long-Term Disability Benefits

6.3.1 Int

Licence Rights

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License: 
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

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Products and Companies

Products

Employee benefits in Venezuela, Retirement benefits, Death in service, Long-term disability benefits, Medical benefits, Workmen's compensation, Maternity and paternity benefits, Family benefits, Unemployment, Leave, Private benefits