Employee Benefits in Brazil 2021

Brazil has a well-developed social security system, and both employers and employees contribute to social security schemes in the country, with employers’ contributions typically much greater than those of employees. Brazilian employees primarily contribute to six statutory social security organizations: the statutory pension insurance fund, the statutory death insurance fund, the statutory short-term sickness fund, the statutory long-term disability fund, the statutory maternity fund, and statutory family benefits. The Brazilian government is responsible for the payment of benefits such as medical benefits and workmen compensation insurance.

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

Key Highlights

– National Institute for Social Security (Instituto de Seguridade Social – INSS), and Unique Health System (Sistema Único de Saúde – SUS) 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 Brazil, employers provide voluntary retirement benefits to their employees through voluntary superannuation contribution.

Scope

This report provides a detailed analysis of employee benefits in Brazil –

– 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, leaves and holidays and private benefits

– It highlights the economic and regulatory situations relating to employee benefits in Brazil

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

Table of Contents

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 Brazil

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

– Unemployment Benefits

– Family Benefits

– Social Inclusion Program

– Leaves and Holidays

7. Private Benefits

7.1 Retirement Benefits

7.2 Death Benefits

7.3 Disability Benefits

7.4 Medical Benefits

7.5 Accidental and Dismemberment Benefits

7.6 Other Benefits

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List of Tables

List of Tables

Table 1: Insurance Industry Definitions

Table 2: Brazil – Country Statistics

Table 3: Brazil – Contribution Table for Employees, Domestic and Individual Workers

Table 4: Brazil – Workmen’s Compensation Insurance, Employee and Employer Contributions

Table 5: Brazil – Unemployment benefit

Table 6: Brazil – Fixed National and Public Holidays, 2021

List of Figures

List of Figures

Figure 1: Brazil – Main Institutions of Social Security System

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