Summary
The Portuguese social security system is based on universality; it ensures that the social protection provided by the system is available for everyone. It consists of the Public Social Security System, the Social Action System and the Supplementary System. The Public Social Security System has three subsystems called Welfare, Solidarity and Family Support System. Welfare system is a contributory scheme that protects the employed and the self-employed against the risk of losing a regular income due to sickness, maternity, unemployment, disability, death, retirement and occupational diseases. The solidarity system is a non-contributory system that guarantees the citizenship rights and aims to eliminate poverty. It is primarily meant for agricultural workers who are not covered under the welfare system. In the event of disability and dependency, the provision of financial support to meet family expenditures is made by Family Support System. Social Action System is aimed at protecting the interests of special categories of people such as children, disabled youngsters and the elderly. Supplementary System is optional and it consists of supplementary group initiative schemes, individual initiative schemes and the public capitalization scheme, including pension funds financed by the employers, life assurance and savings plans.
The report provides in-depth industry analysis, information and insights of the employee benefits in Portugal, including: overview of the state and compulsory benefits in Portugal, detailed information about the private benefits in Portugal, 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 Portugal.
Key Highlights
- State benefits are granted by the government of a particular country to all employed, self-employed and unemployed persons and their dependents residing in the country.
- It consists of three systems: the citizenship social protection system, the insurance system and the supplementary system.
- The private benefits are intended at motivating the employees to deliver their best performance.
- In Portugal, old age, death and disability benefits follow a mixed system of financing such as current income financing (pay as you go) and funded system.
Scope
- This report provides a detailed analysis of employee benefits in Portugal.
- 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 Portugal.
Reasons to buy
- Make strategic decisions using in-depth information related to employee benefits in Portugal.
- Assess Portugese employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Portugal.
- Gain insights into key organizations governing Portugese employee benefits, and their impact on companies.
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Table of Contents
1 EXECUTIVE SUMMARY
2 INTRODUCTION
2.1 What is this Report About?
2.2 Definitions
3 COUNTRY STATISTICS
4 OVERVIEW OF EMPLOYEE BENEFITS IN PORTUGAL
5 REGULATIONS
6 STATE AND COMPULSORY BENEFITS
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of Retirement Plan
6.1.3 Eligibility
6.1.4 Age
6.1.5 Pensionable salary
6.1.6 Benefits
6.1.7 Payment Option
6.1.8 Typical employer practice
6.1.9 Employee and employer contribution
6.1.10 Taxation
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment Options
6.2.5 Typical employer practice
6.2.6 Employee and employer contribution
6.2.7 Taxation
6.3 Long-Term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment Options
6.3.5 Typical employer practice
6.3.6 Employee and employer contribution
6.3.7 Taxation
6.4 Short-Term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment Options
6.4.5 Typical employer practice
6.4.6 Employee and employer contributions
6.4.7 Taxation
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment Options
6.5.5 Typical employer practice
6.5.6 Employee and employer contributions
6.5.7 Taxation
6.6 Workmen’s Compensation Insurance
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment option
6.6.5 Employee and employer contributions
6.6.6 Taxation
6.7 Maternity and Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment Options
6.7.5 Typical employer practice
6.7.6 Employee and employer contributions
6.7.7 Taxation
6.8 Family Benefits
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment Options
6.8.5 Employee and employer contributions
6.8.6 Taxation
6.9 Minimum Resources
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment Options
6.9.5 Employee and employer contributions
6.9.6 Taxation
6.1 Long-Term Care
6.10.1 Introduction
6.10.2 Eligibility
6.10.3 Benefits
6.10.4 Payment Options
6.10.5 Employee and employer contributions
6.10.6 Taxation
6.11 Unemployment Benefits
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Payment Options
6.11.5 Employee and employer contributions
6.11.6 Taxation
7 PRIVATE BENEFITS
7.1 Retirement Benefits
7.2 Disability Benefits
7.3 Death Benefits
7.4 Medical and Health Benefits
7.5 Other Benefits
8 APPENDIX
8.1 Methodology
8.2 Contact GlobalData
8.3 About GlobalData
8.4 GlobalData’s Services
8.5 Disclaimer
List of Tables
Table 1: Insurance Industry Definitions
Table 2: Portugal - Country Statistics
Table 3: Portugal - New Sustainability Contribution, 2015
Table 4: Portugal - New Sustainability Contribution, 2017
Table 5: Portugal - Minimum Pension
Table 6: Portugal - Orphan’s Pension
Table 7: Portugal - Sickness Daily Benefits
Table 8: Portugal - Adoption benefits
Table 9: Portugal - Orphan’s benefits
Table 10: Portugal - Death allowance
Table 11: Portugal - Adoption benefits
Table 12: Portugal - Orphan’s Pension
Table 13: Portugal - Child Benefits
Table 14: Portugal - Special Allowances for Disabled Children
Table 15: Portugal - Disability supplement
Table 16: Portugal - Education allowance
Table 17: Portugal - Duration of Benefits
List of Figures
Figure 1: Portugal - Main Institutions of Social Security System
