Employee Benefits in the UK 2020

Employee Benefits in the UK 2020

Summary

The UK has one of the most comprehensive and well-established welfare systems in the world. It is predominantly controlled by the social security system. Welfare benefits in the country are disbursed under various schemes, such as cash benefits, healthcare, education, housing and personal social services. Cash benefits are classified into three subgroups: national insurance; means-tested; and non-contributory benefits.

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

Key Highlights

- The Department for Work and Pensions (DWP) is responsible for the functioning of the overall social security system.
- A person’s national insurance contribution is determined based on their income.
- An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to credited contribution.
- In the UK, private benefit plans are voluntary in nature, excluding work injury, maternity benefits and redundancy pay.

Scope

This report provides a detailed analysis of employee benefits in UK -
- 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 UK

Reasons to Buy

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