Jara Benefits on LinkedIn: #healthinsurance #benefits #employeebenefits #benefitstechnology (2024)

What is the Group Life Assurance??The Group Life Assurance is a contractual agreement designed to safeguard the members of a specific group, including employees, members of a club, or association.The Group Life Assurance, also known as Death-In-Service, was made compulsory by the enactment of The Group Life and Pension Act of 2004 by the Federal Government of Nigeria, for employers with minimum number of three (3) employees.It provides compensation upon the death of assured’s employees with a sum assured of either three or five years of annual emolument. **Emolument is defined as Basic, Housing, and Transport**Want to know more about the #Grouplifeinsirance ??Send us a DM or click the WhatsApp button to chat with us.

In Nigeria, a number of legislation have been enacted to form the basis for creating an enabling environment for the funding and administration of social security expenditures. Some of these legislations include the Industrial Training Fund Act, Employees Compensation Act, National Health Insurance Act, National Housing Fund Act and the Pension Reforms Act.https://lnkd.in/drH7Gbn8#SocialSecurity #EmployeeCompensation #IndustrialTrainingFund #SocialBenefits #NigeriaLegislation #EconomicDevelopment #AndersenNigeria #Nigeria

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🌟 Cracking the Code: Employee Benefits in Nigeria 🌟Hey Employers and HR Rockstars! Let's talk about perks that make your employees' hearts sing, all while staying on the right side of Nigerian employment law. Here's the lowdown:⚖ Legal Must-Haves:1. Pension Contributions: You got to chip into your employees' retirement funds, as per the Pension Reform Act.2. Health Insurance: Keep your team covered under the National Health Insurance Scheme (NHIS).3. Employees Compensation Act (formerly Workmen's Compensation): The law demands compensation for workplace accidents, as outlined in the Employee's Compensation Act and the contributions are managed by the Nigerian Social Insurance Trust Fund (NSITF).💼 Extra Goodies:1. Flexi-Work: Let's get flexible! Offering work-from-home or flexible hours can boost morale.2. Skills Boost: Invest in your team's growth with training and development opportunities.3. Wellness Wins: Keep your squad healthy and happy with wellness programs.4. Recognition Rewards: Celebrate your team's wins and watch morale skyrocket.Happy employees, happy workplace! 🚀 #EmployeeBenefits #NaijaLaw #HappyWorkforce 🌱

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Legislative Update ✔Unio Employee Benefits has provided an update on changes to the Occupational Pension Schemes (Preservation of Benefits) Regulations 2002. The most notable of these changes relate to:➡Transfer Payments under €20,000➡Electronic CommunicationsRead the full update via the link below:We are here to help. If you have any questions on any of the information provided in this update, speak to your Unio Client Manager or contact us atenquiries@unio.ie.#employeebenefits#pensionadvice

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Social insurance benefits in Indonesia are administered and administered by the Indonesian Social Security Administration (BPJS). The following are the main social security benefits in Indonesia:✅ 1. Old Age Security JHT (Jaminan Hari Tua)According to Indonesian law, employers are required to pay pension insurance premiums for their employees to ensure that employees can receive certain pensions when they retire. Pension calculations are based on the employee's salary base and length of service. According to the latest figures, pension contributions are 3.7% (paid by the employer) and 2% (paid by the employee).✅2. Pension Guarantee JP (Jaminan Pensiun)JP is an additional pension plan designed to provide employees with a higher level of pension benefits. Employers and employees jointly contribute to the scheme, with the pension contribution ratio being 2% (employer borne) and 1% (employee borne).✅3. Work injury insurance JKK (Jaminan Kecelakaan Kerja)According to Indonesian law, employers need to pay 0.54% of employees' total wages as work-related injury insurance costs, and employees do not need to bear it.✅4. Unemployment Insurance JKP (Jaminan Kehilangan Pekerjaan)JKP is Indonesia's unemployment insurance system. Employers and employees don't need to bear it. It is borne by the Indonesian government. The maximum base limit is IDR 5,000,000.✅5. Death insurance JKM (Jaminan Kematian)Employers need to pay 0.3% of employees' total wages as incapacity insurance premiums.✅6.medical insuranceInsured persons need to pay a certain percentage of insurance premiums, and employers generally contribute 4%.#Indonesia #benefits #insurance #hr #employment

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Egypt's social insurance system has been struggling with declining rates of participation, even during times of economic growth. In this ERF blog post, Ghada Barsoum and I explore the institutional elements behind this concerning trend. We argue that the increasing cost for regular wage workers and the legal informality of irregular wage workers are key contributing factors to the low and falling social insurance coverage in Egypt. Check out the full post to learn more about the challenges facing the country's social insurance scheme and its policy implications. #Egypt #SocialInsurance #ERF

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Dear Employers, HR Managers & Recruiters,More often than not, I see job vacancy adverts where some items are listed as benefits which the employee will enjoy working in the organisation.Please be informed that some of the things we refer to as employees benefits today aren't really benefits, they are responsibilities legally expected of employers to provide for their employees.I often see some people for instance refer to HMO as benefits, no, it is not an employee benefit, it is more of the employer's responsibility to the employee as mandated by law.Let's take a dive into some of these aberrations;1. HMO via National Health Insurance Scheme (NHIS) Act.2. NSITF via Employee Compensation Act.3. Pension via Pension Reform Act.4. GLI (Group Life Insurance) via Pension Reform Act.5. Leave Allowance via Nigerian Labour Act.6. Employee Training via Industrial Training Fund Act.NHF is solely the responsibility of the employee's commitment. It is at the expense of the employees who will in turn benefit the 2.5% of the employee's monthly basic salary being contributed to the Federal Mortgage Bank of Nigeria via the National Housing Fund Act.What you can refer to as benefits are (but not limited to the below listed items);1. Profit sharing2. Annual bonus3. Lunch Allowance4. Transport Allowance5. Education support for children of employees6. Spousal Allowance7. New birth celebration Allowance8. Marriage support allowance9. Relocation allowance10. House rent support11. Cost of Living Adjustment12. Burial support13. 13th month salary14. Stock optionsPlease note that some of the above listed items may be subject to agreements between the employer and employee via policy documents/employee handbooks or offer of employment consented to by the employee.Caveat:Sincerely, I don't like to be the one who does this, but it is for the purpose of information, enlightenment and education of all. It is not intended for instigation or incitement of any sort by anyone.It must however be stated that many employers have the intention of ensuring these mandatory responsibilities are carried out, but the financial capacity to do it is not available.#EmployeeBenefits #EmployersResponsibilities #ECA #HMO #NSITF #GLI #Pension #HumanResourceDuties #EmployeeEducation

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Building a Winning Team: Employee Benefits in South AfricaSouth Africa's workforce is brimming with potential, but how do you attract and retain the best talent? The answer lies in a powerful tool: employee benefits. These perks go beyond just a paycheck, offering a support system that empowers your team's well-being and financial future.Think of employee benefits as the pillars of a strong foundation. Two of the most crucial pillars are medical aid and retirement funds. Here's why:-Medical Aid: The Shield for Health SecuritySouth Africa's two-tier healthcare system can leave employees vulnerable. Medical aid schemes bridge the gap by providing private health insurance. This means your team gets access to a network of medical providers, specialists, and hospitals, ensuring they receive the best possible care when they need it most. Reduced stress about medical bills translates to a healthier, happier, and more productive workforce.-Retirement Funds: Building a Secure FutureNobody wants to face financial worries after a lifetime of dedication. Retirement funds empower your employees to take control of their financial future. By offering options like pension or provident funds, you're helping them build a nest egg that secures a comfortable retirement. This fosters loyalty and a sense of security, leading to a more engaged and dedicated team.Ready to build a winning team with a winning benefits package? Stay tuned for further insights on crafting the perfect package for your South African workforce! Give me or Clarity Employee Benefits a follow if you would like to see more of this type of content. Click the link below to find out more.https://lnkd.in/dRtp_8_q#SAEmployeePerks #SouthAfricaWorkPerks #SAEmployeeBenefits#JobPerksZA #WorkBenefitsSA #EmployeeWellness #SAWorkLifeBalance#JobBenefitsRSA #WorkplaceBenefitsSA #SAWorkCulture #EmployeeRewards #JobSecuritySA #SAWorkplacePerks#EmployeeEngagement #SouthAfricaCareerBenefits #SAWorkFlexibility#EmployeeRecognition #WorkLifeBenefitsSA #SAWorkplaceWellness#EmployeeSatisfaction

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The Employees Provident Fund (EPF) issued the following announcements:1.Product and Policy EnhancementsOn 24 January 2024, EPF issued a media release on the implementation of a series of product and policy enhancements, strategically designed to fortify the retirement future and income security of its members and potential members.2.i Lindung Phase 2On 5 February 2024, EPF launched the i - Lindung Phase 2 under the Members Protection Plan which allows members utilise their funds in Account 2 to purchase insurance and takaful products consisting of life and critical illness protection for their immediate family members.Members can purchase the insurance and participate in takaful products offered by EPF-approved insurance companies and takaful operators for themselves or their immediate family members via the i-Lindung platform in the EPF i-Akaun (Member) mobile application.Refer to the Media Release here:https://lnkd.in/gdtz3Cnb#MAICSA

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"New System introduced in Bahrain for end of service benefits for non-Bahrainis in March 2024”Please read our latest article on the new End of Service Benefit (EOSB) Rule for non-Bahraini employees, which got published in the BCICAI (Bahrain Chapter of the Institute of Chartered Accountants) magazine in the April edition. Effective March 1, 2024, Bahrain implemented a system for organizations to electronically remit End of Service benefits for non-Bahraini private sector employees through the SIO (Social Insurance Organization) portal. This new system, aligned with global standards, aims toensure adequate retirement security for employees and mitigate instances of unpaid accrued benefits.Arun Pazhayannur Russell Bedford Assure Audit#EOSB #Endofservicebenefits #HR #Bahrain #EmployeeBenefits #HRRegulations #HumanResources #indemnity#EmployeeWelfare #EmploymentLaw #HRUpdates #BahrainLaw #WorkplaceUpdates #Bahrainlabourlaw #RetirementPlanning #SocialInsurance #employeerightsinbahrain #Bahrainnews

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