Employee Benefits in Ghana, 2020 Update

Employee Benefits in Ghana, 2020 Update

  • September 2020 •
  • 39 pages •
  • Report ID: 5975898 •
  • Format: PDF
Employee Benefits in Ghana, 2020 Update

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

Key Highlights
- The Social Security and National Insurance Trust (SSNIT) is responsible for the functioning of the overall social security system.
- A person’s national insurance contribution is determined based on their income.
- The Livelihood Empowerment Against Poverty (LEAP) program is implemented by the Social Department in the Ministry of Gender, Children and Social Protection
- In Ghana, employers provide voluntary retirement benefits to their employees through a provident fund scheme

Scope
This report provides a detailed analysis of employee benefits in Ghana -
- 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 Ghana

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