Employee Benefits in Japan 2021

Employee Benefits in Japan 2021

Summary

The Japanese social security system is designed to assure a minimum standard of living to its citizens, as well as protection from social and economic risks. It consists of the following components: a public pension system, health services, and personal social services for the elderly and the disabled, family policy to support working women, employment of senior workers, and public assistance. Japan follows a multi-tier pension system, which includes public and private pension schemes. The public pension and healthcare systems are comprehensive, covering all citizens of the country. The country’s healthcare system is characterized by a fee-for-service practice and the free choice of healthcare providers. However, personal social services and family policy are the relatively underdeveloped social security fields. In Japan, defined-contribution (DC) and defined-benefit (DB) plans were introduced in 2001. Voluntary private pension plans can take a variety of forms in Japan.

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

The Ministry of Health, Labor, and Welfare (MHLW) governs the entire Japanese social security system. The other bodies to which the MHLW provides guidance are - Minister’s SecretariatHealth Policy BureauHealth Service BureauPharmaceutical and Food Safety BureauLabor Standards BureauEmployment Security BureauHuman Resources Development BureauEqual Employment, Children and Families BureauSocial Welfare and War Victims’ Relief BureauHealth and Welfare Bureau for the ElderlyHealth Insurance BureauPension BureauDirector-General for Policy Planning and EvaluationAffiliated InstitutionsCouncilsRegional BureausExternal BureausScope

This report provides a detailed analysis of employee benefits in Japan - It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefitsIt 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, unemployment, leave and private benefitsIt highlights the economic and regulatory situations relating to employee benefits in JapanReasons to BuyMake strategic decisions using in-depth information related to employee benefits in the countryAssess employee benefits of the market, including state and compulsory benefits and private benefitsGain insights into the key employee benefit schemes offered by private employers in the countryGain insights into key organizations governing employee benefits market, and their impact on companies