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Market Research Report

Employee Benefits in Indonesia 2018

Published by GlobalData Product code 324849
Published Content info 49 Pages
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Employee Benefits in Indonesia 2018
Published: October 9, 2018 Content info: 49 Pages
Description

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. 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, BadanPenyelenggaraJaminanSosial (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.

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

Key Highlights

  • The government grants state benefits to all employed, self-employed, and unemployed residents and their dependents.
  • The Indonesian social security system comprises the provident fund system and social insurance system.
  • Most Indonesian private benefit plans are voluntary in nature, and companies looking to set up such plans must first gain government approval.
  • Social security in Indonesia covers a small proportion of the population with minimal benefits.

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 insurance, maternity and paternity benefits, family benefits, unemployment, leave 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 Indonesian 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 Indonesian employee benefits, and their impact on companies.
Table of Contents
Product Code: GDEB0308MR

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 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 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 Short-Term Sickness Benefits
  • 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 Employee and employer contributions
  • 6.4.7 Taxation
  • 6.5 Medical Benefits
  • 6.5.1 Introduction
  • 6.5.2 Eligibility
  • 6.5.3 Benefits
  • 6.5.4 Typical employer practice
  • 6.5.5 Employee and employer contributions
  • 6.6 Workmen's Compensation Insurance
  • 6.6.1 Introduction
  • 6.6.2 Eligibility
  • 6.6.3 Benefits
  • 6.6.4 Payment options
  • 6.6.5 Typical employer practice
  • 6.6.6 Employee and employer contributions
  • 6.7 Maternity and Paternity Benefits
  • 6.7.1 Introduction
  • 6.7.2 Eligibility
  • 6.7.3 Benefits
  • 6.7.4 Payment Options
  • 6.7.5 Typical employer practice
  • 6.7.6 Employee and employer contributions
  • 6.7.7 Taxation
  • 6.8 Family Benefits
  • 6.8.1 Introduction
  • 6.8.2 Eligibility
  • 6.8.3 Benefits
  • 6.8.4 Payment Options
  • 6.8.5 Employee and employer contributions
  • 6.8.6 Taxation
  • 6.9 Long-Term Care Benefits
  • 6.9.1 Introduction
  • 6.9.2 Types of social assistance
  • 6.9.3 Eligibility
  • 6.9.4 Benefits
  • 6.9.5 Payment Options
  • 6.1 Redundancy Benefit
  • 6.10.1 Introduction
  • 6.10.2 Eligibility
  • 6.10.3 Benefits
  • 6.10.4 Employee and employer contributions
  • 6.11 Leave and Public Holidays
  • 6.11.1 Introduction
  • 6.11.2 Annual leave
  • 6.11.3 Sick leave
  • 6.11.4 Personal leave
  • 6.11.5 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 APPENDIX
  • 8.1 Methodology
  • 8.2 Contact GlobalData
  • 8.3 About GlobalData
  • 8.4 GlobalData's Services
  • 8.5 Disclaimer

List of Tables

  • Table 1: Insurance Industry Definitions
  • Table 2: Indonesia - Country Statistics
  • Table 3: Indonesia - Prohibited Positions for Foreign Workers
  • Table 4: Indonesia Contribution Rates - Retirement, Death and Disability Benefits
  • Table 5: Indonesian Workmen's Compensation - Employer's Contributions
  • Table 6: Indonesian Taxation Rates for Lump-Sum Retirement Benefits, 2018
  • Table 7: Indonesia - Temporary disability benefits
  • Table 8:Indonesia - Sick Leave
  • Table 9:Indonesia - Personal leave
  • Table 10:Indonesia - Public Holidays 2018

List of Figures

  • Figure 1: Indonesia - Main Institutions of Social Security System
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