Employee Benefits in the Philippines 2017

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 PHILIPPINES
5 REGULATIONS
6 STATE AND COMPULSORY BENEFITS
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of Retirement Plan
6.1.3 Eligibility
6.1.4 Age
6.1.5 Benefits
6.1.6 Payment options
6.1.7 Typical employer practice
6.1.8 Employee and employer contributions
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment options
6.2.5 Typical employer practice
6.2.6 Employee and employer contributions
6.3 Long-Term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment options
6.3.5 Typical employer practice
6.3.6 Employee and employer contributions
6.4 Short-Term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment options
6.4.5 Typical employer practice
6.4.6 Employee and employer contributions
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefit
6.5.4 Typical employer practice
6.5.5 Employee and employer contributions
6.6 Workmen's Compensation Insurance
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment options
6.6.5 Employee and employer contributions
6.7 Maternity and Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment options
6.7.5 Employee and employer contributions
6.8 Overtime Pay
6.8.1 Introduction
6.8.2 Rate of payment of overtime benefit
6.9 Leave and Holidays
6.9.1 Regular holidays
6.9.2 Special holidays
6.9.3 Weekly rest days
6.1 Consolidated Loans
6.10.1 Introduction
6.11 Emergency Loans
6.12 Unemployment Benefits
6.12.1 Introduction
6.12.2 Eligibility
6.12.3 Benefits
6.12.4 Payment options
7 PRIVATE BENEFITS
7.1 Retirement Benefits
7.2 Disability Benefits
7.3 Death Benefits
7.4 Sickness Benefits
7.5 Medical and Health Benefits
7.6 Workmen's Compensation
7.7 Other Benefits
8 APPENDIX
8.1 Methodology
8.2 Contact GlobalData
8.3 About GlobalData
8.4 GlobalData's Services
8.5 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions
Table 2: The Philippines - Country Statistics
Table 3: Philippine Retirement Benefits Under RA No. 660 - The Magic 87 Formula
Table 4: Philippine Retirement Benefits - Calculation of Gratuity Months
Table 5: Philippine Retirement Benefits - SSS Scheme Contribution Rates
Table 6: Philippine Retirement Benefits - GSIS Scheme Contribution Rates
Table 7: Philippine Death-in-Service Benefits - Minimum Monthly Pension
Table 8: Philippine Disability Benefits - PTD Benefits
Table 9: Philippine Medical Benefits - Contribution Rates
Table 10: Philippine Workmen's Compensation - Payment Options Under SSS
Table 11: Philippine ECP - Payment Options Under GSIS
Table 12: Philippine Work Injury Benefits - Employer Contribution Rates
Table 13: The Philippines - Regular Holidays
Table 14: The Philippines - Regular Holidays
Table 15: Philippine Consolidated Loans - Calculation of Loan Amounts
Table 16: Philippine Unemployment Benefits - Duration of Benefits
Table 17: Philippine Separation Benefits - Duration of Benefits

List of Figures
Figure 1: Philippines - Main Institutions of Social Security System