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Research Report on Employee Benefits in Canada

Most up-to-date research on "Employee Benefits in Canada" to its huge collection of research reports.

Synopsis

The report provides in-depth industry analysis, information and insights into employee benefits in Canada, including:

  • An overview of state and compulsory benefits in Canada
  • Detailed information about private benefits in Canada
  • Insights into the various central institutions responsible for the administration of the different branches of social security
  • The regulatory framework and recent regulations relating to Canadian employee benefits


Executive summary

The Canadian social security system covers various programs, many of which are run by the provinces and territories. In general, benefits are similar across all provinces and territories; however, Québec implements its own pension plan. The government provides financial support to provincial and territorial governments through four main transfer programs – the Canada Health Transfer (CHT), the Canada Social Transfer (CST), and Equalization and Territorial Formula Financing (TFF) – to help them provide social programs and services to citizens. Federal support to provinces and territories increased from CAD41.91 billion (US$40.55 billion) in 2005–2006 to CAD62.3 billion (US$60.29 billion) in 2013–2014. Private employee benefits are gaining popularity, and many companies offer private benefit plans for employees to supplement the government-sponsored hospital and medical plans.

Scope

This report provides a detailed analysis of employee benefits in Canada:

  • 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 benefits, long-term disability benefits, short-term sickness benefits, medical benefits, workmen’s compensation insurance, maternity and paternity benefits, family benefits, unemployment and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in Canada
Reasons to buy

  • Make strategic decisions using in-depth information related to Canadian employee benefits
  • Assess the Canadian employee benefits market, including state and compulsory benefits and private benefits
  • Gain insights into the key employee benefit schemes offered by private employers in Canada
  • Gain insights into key regulations governing Canadian employee benefits, and their impact on companies


Key highlights

  • The Canadian social security system covers various programs, many of which are run by the provinces and territories
  • The Employment and Social Development Canada (ESDC) oversees the Canadian social security system
  • Employment Standards Legislation sets minimum terms and conditions of employment, and both employers and employees must strictly adhere to them
  • Private employee benefits in Canada are not uniform, as every province or territory has individual legislation
  • In Canada, increasing life expectancy is forcing many companies to offer a lump-sum amounts rather than monthly pensions, to keep benefit costs under control

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