Employee Benefits in Italy 2022 - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis

Employee Benefits in Italy 2022 - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis

Summary

Italy’s social security system is based on the constitution of 1947 and plays an important role in providing social security benefits to Italians. State and private benefits which are prominent in Italy cover most of the population. All workers performing a gainful activity in the Italian territory are compulsorily covered by social security insurance. Contributions to the social security system are made by employees, employers, and general taxes. Life expectancy in Italy has increased over the last three decades, resulting in a rise in the elderly population. Due to the recent debt crisis in Europe, government spending on pensions has become a financial burden. In response, several reforms have been made to ensure a better social welfare system for future generations.

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

Key Highlights

• The National Institute for Social Security − INPS, National Institute for Insurance against Employment Injuries − INAIL and National Health Service − SSN 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 Italy, employers provide voluntary retirement benefits to their employees through Occupational pension plans (DC plans). The occupational pension plans are broadly categorized as open and contractual pension funds (closed pension funds).

Scope

This report provides a detailed analysis of employee benefits in Italy -

• 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, Minimum Resource benefit, Long-Term Care, unemployment, leaves and holidays and private benefits
• It highlights the economic and regulatory situations relating to employee benefits in Italy

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