Ukraine Statutory and Private Employee Benefits (including Social Security) - Insights into Statutory Employee Benefits such as Retirement Benefits, Long-term and Short-term Sickness Benefits, Medical Benefits as well as Other State and Private Benefits,

Ukraine Statutory and Private Employee Benefits (including Social Security) - Insights into Statutory Employee Benefits such as Retirement Benefits, Long-term and Short-term Sickness Benefits, Medical Benefits as well as Other State and Private Benefits, 2022 Update

Summary

Following its declaration of independence, Ukraine initiated socio-economic reforms and initiated the national social security system. The system is divided into Compulsory State Social insurance, which is funded by employee and employer contributions, and Family and Social Benefits and Services which are financed by the government. The country’s transition to an open-market economy had adverse effects on its employment rate and standards of living, leading to economic depression and hyperinflation. However, economic, and social reforms are in process, with the intervention of the International Monetary Fund (IMF).

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

Key Highlights

• Pension Fund of Ukraine, State Employment Service of Ukraine, and Department of Social Protection of the Population 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 Ukraine, employer-sponsored voluntary DB retirement plans are not prevalent. Employers offer DC-type voluntary pension plans called Non-State Pension Funds (NPFs) to their employees.

Scope

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

• 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, family benefits, minimum resources benefits, leaves and holidays and private benefits
• It highlights the economic and regulatory situations relating to employee benefits in Ukraine

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