Employee Benefits in the Philippines 2017
Summary
The Philippines is seen as one of Asia’s most socially progressive countries, because of its commitment to providing citizens with secured livelihoods; the Philippine constitution guarantees individuals complete social, economic and cultural rights. Female employees and the primary labor force are granted special rights. However, the county has a long way to go in terms of providing full social entitlement to all citizens. Furthermore, distribu
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- 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 Disabilit
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- 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
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