Note: This information is from 1999.
First and current law: 1974.
Type of program: Provident fund system.
Employed persons.
Exclusions: Casual employees, domestic servants, and noncitizens.
Special system for public-sector employees.
Insured person: 5% of earnings.
Employer: 5% of payroll.
Government: None.
A ceiling is placed on the maximum monthly earnings for contribution and benefit purposes.
Old-age benefit: Age 50, age 45 and retired from regular salaried employment, or any age if emigrating permanently.
Disability benefit: Permanent total incapacity for any work, or permanent partial incapacity and an inability to earn a reasonable livelihood.
Survivor benefit: The death of the fund member prior to retirement.
There is provision for reciprocal agreements with other countries operating a provident fund.
Total employer and employee contributions, plus at least 3% interest per year. The benefit may be paid as a lump sum or converted to an annuity providing periodic payments.
Total employer and employee contributions, plus at least 3% interest per year. The benefit may be paid as a lump sum or converted to an annuity providing periodic payments.
Total employer and employee contributions, plus at least 3% interest per year. The benefit may be paid as a lump sum or converted to an annuity providing periodic payments. The benefit is payable to a widow, other dependents, or other persons designated by the fund member.
Ministry of Finance provides general supervision.
Managed by a tripartite board and director, the National Provident Fund administers the program.
First law: 1963.
Current law: 1983.
Type of program: Compulsory insurance with a private carrier.
Employed persons.
Exclusions: Domestic servants, shepherds, family labor, and casual workers.
Insured person: None.
Employer: Total cost, met through the cost of insurance premiums.
Government: None, except as an employer.
Work injury benefits: There is no minimum qualifying period.
75% of earnings, payable after a 3-day waiting period until full recovery or certification of permanent disability, up to a maximum of 24 months. (The benefit is sometimes paid as a lump sum calculated according to the expected duration of the disability.)
A lump sum of 54 months' earnings, if totally disabled.
Partial disability: A percentage of the full benefit proportionate to the loss of working capacity.
Constant-attendance allowance: 25% of the permanent disability benefit.
Benefits include the limited cost of medical treatment expenses, the limited cost of appliances, and limited transportation costs.
Survivor benefit: A lump sum of 48 months' earnings, minus any permanent disability benefits paid to the insured.
The full benefit is payable to dependent survivors; a reduced benefit is paid to survivors who were partially dependent on the insured.
Funeral grant: A lump sum covering the cost of the funeral, up to a maximum.
Department of Labor enforces the law.
Employers must insure the assessed liability with a private insurance company.