Summary Hong Kong’s social welfare system provides cover to all residents in the event of disability, old age, death, unemployment, and sickness.The public pension pillar covers individuals in need of assistance.
The occupational pillar, which is a compulsory defined-contribution (DC) scheme, was launched in 2000, and the third pillar is a voluntary pension savings scheme. The Social Welfare Department (SWD) administers Hong Kong’s non-contributory social security system, which includes the Comprehensive Social Security Assistance (CSSA) scheme, the Social Security Allowance (SSA) scheme, the Criminal and Law Enforcement Injuries Compensation (CLEIC) scheme, the Traffic Accident Victims Assistance (TAVA) scheme, the Support for Self-Reliance (SFS) scheme and Emergency Relief (ER).
The main change to Hong Kong’s social welfare system in the last decade was the introduction of the compulsory occupational pillar, the MPF. Before its implementation, any contribution to the occupational system was made voluntarily.
The report provides in-depth industry analysis, information, and insights of the employee benefits in Hong Kong, including an overview of the state and compulsory benefits in Hong Kong, detailed information about the private benefits in Hong Kong, 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 Hong Kong.
In Hong Kong, the Social Welfare Department (SWD) and the Mandatory Provident Fund Authority (MPFA) governs the social security system of Hong Kong.
The SWD oversees the development and coordination of the social welfare system, and incorporation of changes made by the government to the social welfare system.
It consists of the following public services - - Social Security
- Family and Child Welfare
- Clinical Psychological Services
- Medical Social Services
- Rehabilitation Services
- Services for the Elderly
- Services for Young People
- Services for Offenders
- Community Development
- Control of Charitable Fundraising Activities
- Support Services
Scope This report provides a detailed analysis of employee benefits in Hong Kong -
- 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 Hong Kong
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
Our reports have been used by over 10K customers, including:
Employee Benefits in China 2021 Summary China is the world’s largest country, based on population.Despite being the second-largest economy in terms of nominal GDP and purchasing power parity after the US, its development is not uniform. China’s social security system includes various types...
Employee Benefits in Romania 2021 Summary Romania has a well-established social security system.In order to provide its citizens with decent living conditions, the Romanian government provides various social security schemes in close association with private institutions. The Romanian pension...
241 pages •
By Asia Market Information & Development Company
• May 2021
China’s demand for Home Testing Products has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, import & export, consumer...
Help on demand: A growing elderly population will likely continue to boost the number of emergency visits Abstract Ambulance Services in the US The Ambulance Services industry exhibited growth over the five years to 2019, driven by demographic shifts. Over the five years to 2024, industry revenue is...
195 pages •
By Asia Market Information & Development Company
• Feb 2021
China’s demand for Hearing Aids has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, import & export, consumer consumption...
Beneficial for all: Large operators are expected to enter overseas markets to generate growth Abstract HR Consulting in the US Human resource (HR) management is becoming more important to businesses as the US economy becomes increasingly service oriented, which creates a greater emphasis on employee...
Apple a day: Many operators will likely engage in mergers and acquisitions to achieve economies of scale Abstract Healthcare and Social Assistance in the US The Healthcare and Social Assistance sector has steadily grown over the past five years. The majority of services offered by subsectors in the...
Employee Benefits in Dominican Republic 2020
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...
Employee Benefits in Estonia 2020
Estonia has a well-developed social security system that covers the risks of employees, self-employed persons and their family members.The Estonian social protection system includes pension, health, and unemployment insurance.
Pension and health...
Specialized medicine: Seniors in need of long-term care are expected to boost demand, but profit will likely fall Abstract Specialty Hospitals in the US Specialty hospitals that focus on rehabilitation, long-term acute care, children’s medicine, cardiology, orthopedics, women’s medicine and surgical...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.