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Employee Benefits in Nigeria

Employee Benefits in Nigeria

Date Published: Dec 13 2014
Nigeria’s social security system is based on the principle of defined-benefits (pay-as-you-go), and is generally managed by the state government. The social security system covers a limited number of benefits and provides them based on the insured’s contribution period. Nigeria also has an informal social security system to which people can contribute voluntarily.
 
The report provides in-depth industry analysis, information and insights into employee benefits in Nigeria, including:
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Employee Benefits in Singapore

Employee Benefits in Singapore

Date Published: Dec 12 2014
The Republic of Singapore’s social security system is founded on principles of self-provision and self-reliance; the country’s government limits its expenditure on social security schemes. The government’s policy has been that each generation must earn and save enough for their entire life cycle, with each individual being responsible for their own financial sustenance after their retirement. The Central Provident Fund (CPF) is a key component of Singaporean social security system.
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Employee Benefits in Turkey

Employee Benefits in Turkey

Date Published: Dec 11 2014
The Turkish social security system is largely similar to the Continental model, with employee contributions made according to their insurance and payroll status. Contributions are collected in a joint pool and pensions are paid, on becoming eligible, according to contributions made. From 1990, a number of financial problems arose in the Turkish social security system due to implementation of early retirement, an increase in unregistered employment, and low rates of contributions and income subject to contributions.
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Employee Benefits in Argentina

Employee Benefits in Argentina

Date Published: Nov 26 2014
The development of Argentine social security programs and policies started in the early 20th century. At present, the system has numerous policies and programs, including compulsory social insurance and social assistance. The system provides both basic social protection and a higher level of protection. Under the basic social protection, family allowance and retirement benefits are provided to families and workers employed in the informal sector, while compulsory contributory insurance schemes are provided under a higher level of protection systems.
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Employee Benefits in Zambia

Employee Benefits in Zambia

Date Published: Nov 26 2014
The Zambian social security system is based on the social insurance model and provides protection against income loss due to retirement, disability and death. All employed individuals in the formal sector are required to contribute to statutory pension scheme. Individuals not covered by the scheme can contribute voluntarily. The combined asset size of the statutory pension scheme was estimated to be ZMW6.0 billion (US$1.0 billion) in 2012, while the voluntary pension’s combined asset-size was ZMW3.2 billion (US$549.0 million).
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Employee Benefits in Botswana

Employee Benefits in Botswana

Date Published: Nov 24 2014
The Republic of Botswana has a range of social security programs which cover the country’s citizens, as well as people belonging to poor and vulnerable groups in rural communities. According to the National Policy for Rural Development (Government of Botswana – GoB, 2002), the aim of these programs is to reduce poverty and provide a social safety cover to all Botswanan individuals.
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Employee Benefits in Chile

Employee Benefits in Chile

Date Published: Nov 13 2014
Chile was one of the first countries in the Americas to set up state-sponsored social security cover. The country’s pension system consists of multiple pillars: a non-contributory first pillar, a fully funded second pillar and a voluntary third pillar. In 1981, a new privatized system was introduced to carry out social security schemes. These programs are administered by private sector insurance companies called pension fund managers and the state is in charge of the regulations.
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Employee Benefits in the Dominican Republic

Employee Benefits in the Dominican Republic

Date Published: Nov 13 2014
The Dominican Republic has a comprehensive social security system. There are three schemes under which social security benefits are granted to the country’s residents and citizens: a contributory scheme that covers employees, a contributory subsidized scheme for self-employed individuals and technicians that is yet to be implemented, and a fully subsidized scheme that covers unemployed and severely disabled persons who do not have a stable income and earn below the minimum wage.
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Pension Fund Market in India 2011

Pension Fund Market in India 2011

Date Published: Sep 7 2011

The pension fund market in India was valued at INR 13.72 tr in 2010 and is estimated to grow at 7% CAGR. Low existing coverage and massive workforce in the unorganized sector provides a huge untapped market for the pension market. Strong opportunity for the private players also exists as the government provides ample support to them.

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