Employee Benefits in Botswana 2024

Employee Benefits in Botswana 2024

Summary

The report provides in-depth industry analysis, information, and insights of the employee benefits in Botswana, including an overview of the state and compulsory benefits in Botswana, detailed information about the private benefits in Botswana, 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 Botswana.

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 residing in rural communities. According to the National Policy for Rural Development (Government of Botswana - GoB, 2002), these programs aim to reduce poverty and provide a social safety cover to all Botswanan individuals. These include the Universal Old-age Pension, the Orphan Care Program, the Labor-Based Drought Relief Program, and Supplementary Feeding for Vulnerable Groups, and the Program for Destitute Persons. The Botswana Federation of Trade Unions (BFTU) is the workers’ labor federation representing the country’s laborers. In 1997, Botswana published a document now known as Vision 2016, which projects that poverty will be eradicated in the country by 2016. Pensions play a vital role in enhancing the earnings of the country’s workforce after retirement. The government is also focusing on improving the social security framework to prevent people from falling into poverty. Private employers also provide benefits to employees in addition to mandatory employee benefits.

Key Highlights

• The Department of Occupational Health and Safety, Department of Labor and Social Security, and Department of Skills Development 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 Botswana, employers offer a pension fund, a provident fund, a multi-employer fund, and a beneficiary fund to their employees as a pension plan.

Scope

This report provides a detailed analysis of employee benefits in Botswana -

• 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 benefits, leaves and holidays and private benefits
• It highlights the economic and regulatory situations relating to employee benefits in Botswana

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