International Employee Benefits

The term “employee benefits” refers to non-wage compensation provided to employees in addition to wages or salary.   This can include a wide range of benefits including social security benefits, retirement and death benefits, medical care, sickness benefits, long-term care, child care, tuition fees, housing allowances, company cars, profit-sharing, share-options, termination indemnities, relocation assistance, shopping discounts.

Benefits may be financed by employer and/or employee contributions.   Some employers offer cafeteria plans which give employees the option of choosing from a menu of benefits.    The benefits provided in each country will depending on local taxation, social security and labour law.

In the narrow sense, the term is normally limited to benefits which include an element of insurance or funding.    These are normally as follows:

• Retirement benefits;
• Survivors’ and children’s benefits;
• Medical care;
• Sickness and disability benefits.

“International employee benefits” is concerned with the provision and financing of employee benefits for employers who have employees in more than one country.   This can include:

• Audits of international employee benefits;
• Advice on international employee benefits strategy;
• Information on local practice;
• Financing of international employee benefit programmes, including the use of multinational pooling, self-insurance and captive insurance companies;
• Employee benefits for expatriates.

Our services cover all these areas.