COVID-19 update included
The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic


Summary

Hong Kong’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 Hong Kong’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 Hong Kong, including: overview of the state and compulsory benefits in Hong Kong, detailed information about the private benefits in Hong Kong, 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 Hong Kong.


Key Highlights

  • Hong Kong’s social welfare system provides cover to all residents in the event of disability, old age, death, unemployment, and sickness.
  • 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 Hong Kong’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).




Scope

This report provides a detailed analysis of employee benefits in Hong Kong -

  • 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 Hong Kong




Reasons To Buy

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