Employee Benefits in the UK 2018
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.
- The Department for Work and Pensions (DWP) is responsible for the functioning of the overall social security system.
- Most private benefit plans in the UK are voluntary in nature (excluding work injury, maternity benefit and redundancy pay).
- A persons national insurance contribution is determined based on their income.
- The DWP operates through its four main organizations: Jobcentre Plus, the Pension Service, the Child Support Agency, the Child Maintenance Service and Child Maintenance Options.
- 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.
Table of Contents
1 EXECUTIVE SUMMARY
2.1 What is this Report About?
3 COUNTRY STATISTICS
4 OVERVIEW OF EMPLOYEE BENEFITS IN THE UK
6 STATE AND COMPULSORY BENEFITS
6.1 Retirement Benefits
6.1.2 Types of Retirement Plans
6.1.6 Payment Options
6.1.7 Employee and Employer Contributions
6.2 Death in Service
6.2.4 Payment Options
6.2.5 Employer and Employee Contributions
6.3 Long-term Disability Benefits
6.3.4 Payment Options
6.3.5 Employee and Employer Contributions
6.4 Short-term Sickness Benefits
6.4.4 Payment Options
6.4.5 Typical Employer Practice
6.4.6 Employee and Employer Contribution
6.5 Medical Benefits
6.5.4 Typical Employer Practice
6.6 Workmens Compensation
6.6.4 Payment Options
6.7 Maternity and Paternity Benefits
6.7.4 Payment Options
6.7.5 Employee and Employer Contributions
6.8 Family Benefits
6.8.4 Payment Options
6.9 Minimum Resources
6.9.4 Payment Options
6.10.4 Payment Options
6.10.5 Employee and Employer Contributions
6.11 Long-term Care Benefits
6.11.4 Payment Options
6.12 Private Benefits
6.12.1 Retirement Benefits
6.12.2 Disability Benefits
6.12.3 Death Benefits
6.12.4 Work Injury Benefits
6.12.5 Medical and Health Benefits
6.12.6 Other Benefits
7.2 Contact GlobalData
7.3 About GlobalData
7.4 GlobalDatas Services
List of Tables
Table 1: Employee Benefit Definitions
Table 2: The UK - Country Statistics
Table 3: The UK National Insurance (NI) Contributions Thresholds
Table 4: The UK Retirement Benefits - Determining Factors
Table 5: The UK - Class 1 NI Contribution Rates for Employee
Table 6: The UK - NI Contributions for Employers
Table 7: The UK Death in Service Benefits - Bereavement Allowance (2017-2018)
Table 8: The UK - SSP Amount for Employees
Table 9: The UK Workmens Compensation - Payment of Constant Attendance Allowance
Table 10: The UK Maternity and Paternity Benefits - Statutory Maternity, Paternity and Adoption Pay, 2017
Table 11: The UK Unemployment Benefit - Contribution-based Jobseekers Allowance
Table 12: The UK Unemployment Benefit - Income-based Jobseekers Allowance
List of Figures
Figure 1: United Kingdom - Main Institutions of Social Security System
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