Albany, NY -- (SBWIRE) -- 01/21/2015 -- Synopsis

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

* An overview of state and compulsory benefits in Malaysia
* Detailed information about private benefits in Malaysia
* Insights into various central institutions responsible for the administration of the different branches of social security
* The regulatory framework of employee benefits in Malaysia

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Executive summary

The Malaysian Social Security System is based on two pillars: the Employees Provident Fund and the Social Insurance System. Pensions in Malaysia are covered by the Employees Provident Fund, which acts as a fundamental support to the Malaysian pension system and deals with the provision of extensive social security functions. The social insurance system is administered by the Social Security Organization (SOCSO), and provides financial assistance to insured employees and their dependents in the event of accidents that may result in death, disability or illness or an occupational disease. SOCSO provides two types of insurance scheme to employees: the employment injury scheme and disability scheme. Generally, foreign workers are not covered by SOCSO, but under the Worker's Compensation Act, they are entitled to receive benefits in the event of a work-based injury. Various reforms have been introduced to improve financial security in retirement by encouraging longer contributions and more prudent distribution of accumulated assets through various incentives. As in many Asian and western countries, Malaysia has also seen adverse demographic developments and needs to restructure its system to deal with future financial challenges. Occupational pensions are not very common in Malaysia, and are mostly limited to larger employers.

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Scope

This report provides a detailed analysis of employee benefits in Malaysia:

* 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, medical benefits, workmen's compensation, maternity benefits, public holidays and private benefits.
* It highlights the economic and regulatory situations relating to employee benefits in Malaysia.

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Reasons to buy

* Make strategic decisions using in-depth information related to employee benefits in Malaysia.
* Assess Malaysia'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 Malaysia.
* Gain insights into key organizations governing Malaysia's employee benefits, and their impact on companies .

Key highlights

* The EPF is managed by a tripartite governing board and responsible for the administration of contributions and benefits under the provident fund system. It is also responsible for investing funds contributed by member employees.
* Under the provident fund system for retirement, death, disability and medical benefits, employees below the normal retirement age should contribute 11% of their monthly earnings, and employees aged between the normal retirement age and 75 years should contribute 5.5% of monthly earnings. Under the social insurance system for death and disability benefits, a contribution of 0.5% of monthly earnings should be made by employees.
* Under the social insurance system for death and disability benefits, a contribution of 0.5% of monthly earnings should be made by employees.

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Employee Benefits in Colombia

View Full Report at http://www.marketresearchreports.biz/analysis/241528

Synopsis

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

* An overview of state and compulsory benefits in Colombia
* Detailed information about private benefits in Colombia
* Insights into various central institutions responsible for the administration of the different branches of social security
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Executive summary

Colombia has a basic social security system with low coverage and participation. The country's social insurance system was initially introduced for public sector employee groups only. Private sector employees secured coverage in 1946. Pension benefits were introduced with the creation of the Social Security Institute (ISS) in 1967. However, the ISS faced problems immediately due to low coverage and participation rates. To overcome this problem, the government created a new social security system through Law 100 of 1993. The law introduced a dual public-private competitive pension system – Régimen de Prima Media or average premium scheme (RPM), and the Régimen de Ahorro individual con Solidaridad, or individual savings system with solidarity (RAIS). In 2012, the administration of RPM was transferred from ISS to Colpensiones, a state-owned financial institution supervised by the Ministry of Labor, due to problems with debt and inefficiency. Private sector employees can choose between RPM and RAIS and have the option to change their membership once every five years. For self-employed and unemployed individuals there is a voluntary regime. Armed forces, police and teachers have their own separate systems.

Employee Benefits in New Zealand

View Full Report at http://www.marketresearchreports.biz/analysis/241530

Synopsis

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

* An overview of state and compulsory benefits in New Zealand
* Detailed information about private benefits in New Zealand
* Insights into various central institutions responsible for the administration of the different branches of social security
* The regulatory framework of employee benefits in New Zealand

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Executive summary

New Zealand has a comprehensive social security system, which is largely non-contributory. Neither employers nor employees contribute to social security funds as they are tax financed. However, employees and self-employed persons must make contributions to the Accident Compensation Corporation (ACC) scheme, which provides benefits in the event of an accident, either at work or elsewhere. New Zealand nationals, permanent residents and foreign workers temporarily employed in the country are all covered by social security. Social security benefits in New Zealand are administered by Work and Income New Zealand (WINZ). There is a subsidized retirement savings plan – KiwiSaver – which supplements the country's flat-rate universal pension, known as New Zealand Superannuation. Unemployment and sickness benefits are paid after a minimum period of residence (two years for unemployment benefit), irrespective of employment history. However, the country has reciprocal agreements with certain countries such as Australia, Canada, Denmark and the UK, under which nationals from these countries can apply for social security benefits as soon as they arrive to take up permanent residence. Social security benefits are offered at a flat rate (government transfers), irrespective of previous income. Benefits are subject to taxation, and the Department of Social Welfare deducts the tax before granting benefits.

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