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Employee Benefits in the Israel 2024

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    Report

  • 72 Pages
  • July 2024
  • Region: Israel
  • GlobalData
  • ID: 5992968
The report provides in-depth industry analysis, information, and insights of the employee benefits in Israel, including an overview of the state and compulsory benefits in Israel, detailed information about the private benefits in Israel, 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 Israel.

Israel has a well-established social security system that provides a series of means-tested benefits and grants to people who require financial assistance. The system encompasses income-transfer programs administered by the National Insurance Institute and other government ministries that provide a safeguard for persons and their dependents with inadequate sources of income, or those facing unforeseen expenses. Programs are intended to reduce poverty, provide citizens with an acceptable standard of living, and support children and the unemployed.
The National Insurance covers all citizens, permanent residents, and Jewish immigrants.

Key Highlights

  • The Ministry of Social affairs and National Insurance Institute are 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 Israel, the statutory pension system is predominant, and hence the scope for employer-sponsored supplementary retirement benefits is very low.

Scope

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

  • 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, unemployment, Long-Term Care Benefit, Minimum Resource Benefits, Child-Care Benefit, Benefits for Children with Disabilities, Accident Injury Benefits, leaves and holidays and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in Israel

Reasons to Buy

  • Make strategic decisions using in-depth information related to employee benefits in the country
  • Assess employee benefits of the market, including state and compulsory benefits and private benefits
  • Gain insights into the key employee benefit schemes offered by private employers in the country
  • Gain insights into key organizations governing employee benefits market, and their impact on companies

Table of Contents

1. Executive Summary
2. Introduction
2.1 What is this Report about?
2.2 Definitions
3. Country Statistics4. Overview of Employee Benefits in Israel5. Regulations
6. State and Compulsory Benefits
6.1 Retirement Benefits
  • Introduction
  • Eligibility
  • Benefits
  • Payment options
  • Contribution
6.2 Death in Service
  • Introduction
  • Eligibility
  • Benefits
  • Payment options
  • Contribution
6.3 Long-Term Disability Benefits
  • Introduction
  • Eligibility
  • Benefits
  • Payment options
  • Contribution
6.4 Short-Term Sickness Benefits
  • Introduction
  • Eligibility
  • Benefits
  • Payment options
  • Contribution
6.5 Medical Benefits
  • Introduction
  • Eligibility
  • Benefits
  • Payment options
  • Contribution
6.6 Workers’ Compensation insurance
  • Introduction
  • Eligibility
  • Benefits
  • Payment options
  • Contribution
6.7 Maternity and Paternity Benefits
  • Introduction
  • Eligibility
  • Benefits
  • Payment options
  • Contribution
6.8 Other Benefits
  • Unemployment Benefit
  • Long-Term Care Benefit
  • Minimum Resource Benefits
  • Child-Care Benefit,
  • Benefits for Children with Disabilities
  • Accident Injury Benefits
  • Leaves and Holidays
7. Private Benefits
7.1 Retirement Benefits
7.2 Death Benefits
7.3 Disability Benefits
7.4 Medical Benefits
7.5 Accidental Death and Dismemberment Benefits
7.6 Other Benefits
  • About the Analyst
  • Contact the Publisher
List of Tables
Table 1: Insurance Industry Definitions
Table 2: Israel - Country Statistics, 2023
Table 3: Israel - Contribution Rates for Salaried Workers, 2024
Table 4: Israel - Contribution Rates Based on Type of Salaried Workers (Reduced Rate), 2024
Table 5: Israel - Contribution Rates Based on Type of Salaried Workers (Full Rate), 2024
Table 6: Israel - Contribution Rates of Self-Employed Persons, 2024
Table 7: Israel - Contribution Rates of Unemployed Persons, 2024
Table 8: Israel - Contributions of Persons Receiving Early Pension, 2024
Table 9: Israel - Contributions for Domestic Workers Aged Between 18 years and Retirement Age 2024
Table 10: Israel - Contributions for Domestic Workers Aged Between Retirement Age and the Age of Entitlement 2022
Table 11: Israel - Contributions for Foreign Residents 2024
Table 12: Israel - Contributions for Foreign Residents or the Share of Income Exceeding 60% of the Average Wage 2024
Table 13: Israel - Contributions of Residents of the Palestinian Authority or Judea and Sameria in Settlement or Military Sites 2022
Table 14: Israel - Amount of Old-Age Pension, 2024
Table 15: Israel - Pension for persons below 70 years old
Table 16: Israel - Pension for persons aged between 70 and 80
Table 17: Israel - Pension for persons aged 80 and above
Table 18: Israel - Constant Attendance Allowance, 2024
Table 19: Israel - Survivor Benefit, 2024
Table 20: Israel - Monthly survivor's income supplement for persons below 70 years old for 2024
Table 21: Israel - Monthly survivor's income supplement for persons aged between 70 and 79 for 2024
Table 22: Israel - Monthly survivor's income supplement for persons aged 80 and above for 2024
Table 23: Israel - Benefit Rates for a Widow(er) With Children
Table 24: Israel - Benefit Rates for a Widow Without Children
Table 25: Israel - Benefit Rates for Children
Table 26: Israel - Benefit Rates for Other Dependents
Table 27: Israel - Unemployment Benefits Maximum Duration
Table 28: Israel - Benefit for Young Unemployed Individuals
Table 29: Israel - Long-Term Care Benefit Income Limit, 2024
Table 30: Israel - Maximum Income Limit, 2024
Table 31: Israel - Income Support for Those Aged 20-24, 2024
Table 32: Israel - Income Support Benefit for Those Aged 25-54, 2024
Table 33: Israel - Income Support Benefit for Individuals Aged Above 55, 2024
Table 34: Israel - Child Allowance for Children Born After June 1, 2003
Table 35: Israel - Fixed National and Public Holidays 2024