Summary
The Indonesian social security system comprises the provident fund system and social insurance system. Social security in Indonesia covers a small proportion of the population with minimal benefits. With effect from January 1, 2014, a new regime of national social security has been implemented in Indonesia to cover all employees and residents under one healthcare system by 2019, as well as one employment benefits system by 2029. Under the new system, Badan Penyelenggara Jaminan Sosial (BPJS) Healthcare (BPJS Kesehatan) will administer healthcare benefits and BPJS Employment (BPJS Ketenagakarjaan) will administer employment benefits, which cover the risks of old, age, death, occupational accidents, and diseases. The employee benefits market in Indonesia is expected to register robust growth, as the country’s government is planning to be one of the world’s six largest global economies by 2030 as part of its long-term strategy
The report provides in-depth industry analysis, information and insights of the employee benefits in Indonesia, including: overview of the state and compulsory benefits in Indonesia, detailed information about the private benefits in Indonesia, 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 Indonesia.
Key Highlights
- The Indonesian social security system comprises the provident fund system and social insurance system. This is a state-run enterprise (or Persero) that administers old-age benefits (saving scheme and pension) for armed forces, police personnel, and civil servants employed in military and police offices.
- State benefits are granted by the government of a particular country to all its employed, self-employed, and unemployed residents and their dependents
- It cover employees against the risks of retirement, death, disability, medical and occupational accident, and disease by the provision of various benefits.
- In Indonesia, the voluntary occupational private pension program provides private retirement benefits
Scope
This report provides a detailed analysis of employee benefits in Indonesia -
- 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 Indonesia
Reasons to Buy
- Make strategic decisions using in-depth information related to employee benefits in Indonesia.
- Assess Indonesia'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 Indonesia.
- Gain insights into key organizations governing Indonesia's 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 Indonesia
5. Regulations
6. State and Compulsory Benefits
6.1 Retirement Benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
6.2 Death in Service
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
6.3 Long-Term Disability Benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
6.4 Short-Term Sickness Benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
6.5 Medical Benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
6.6 Workers’ Compensation insurance
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
6.7 Maternity and Paternity Benefits
- Introduction
- Eligibility
- Benefits
- Payment options
- Contribution
6.8 Other Benefits
- Family Benefits
- Long-Term Care Benefits
- Unemployment Benefits
- Leaves and Holidays
7. Private Benefits
7.1 Retirement Benefits
7.2 Death Benefits
7.3 Medical Benefits
7.4 Disability Benefits
7.5 Accidental and Dismemberment Benefits
7.6 Other Benefits
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List of Tables
Table 1: Insurance Industry Definitions
Table 2: Indonesia - Country Statistics
Table 3: Indonesia - Prohibited Positions for Foreign Workers
Table 4: Indonesia - Employer and Employee Contributions
Table 5: Indonesia - Workmen’s Compensation, Employer’s Contributions
Table 6: Indonesia - Temporary disability benefits
Table 7: Indonesia - Personal leave
Table 8: Indonesia - Public Holidays 2021
