Employee benefits in South Africa
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Summary
Tax Considerations
Explainer Guides
This document has been prepared to give guidance on the employee benefits market. The information contained in this report is updated regularly based upon changes in legislation and market trends, however we cannot guarantee that it is always fully up to date and therefore if using this report to inform decision making we would always recommend that you seek independent advice, be that tax, labour law, or general consultancy support.
Employee benefits in South Africa
Discover what you need to know about employee benefits in South Africa, including healthcare and retirement options.
Quick Overview
Benefits Summary
Benefits coverage standards can differ greatly across countries. The table below shows what statutory, market standard and great coverage look like for each benefit.
Public health care
Basic dental covered by government subsidised healthcare
Private group plan
Private health plan stipend
Private dental and vision insurance plan
Employee Assistance Program
Subsidised gym membership
Access to mental health programs or apps
International private medical insurance
Comprehensive medical plan which includes dental and vision
Access to mental health programs or apps
Wellness programs
Group insurance combines life, disability and death protection
3x salary
Private life insurance plan which includes, funeral benefit, disease benefit
4-6x salary
Contribution to UIF
Group insurance combines life, disability and death protection
Private income protection plan
Employers contribution 9-13% of annual salary
Employee contribution 5-10% annual salary
Individual private defined contribution pension plan
1% SDL contribution by employer
E-learning platform access
L&D monthly budget
In office snacks
Happy hours/socials
Meal allowance
Free breakfast/lunch
In office snacks and beverages
Weekly happy hours/socials
Transport allowance
Discounts on technology
Nursery stipend
Housing stipend
Savings and Investment plans
Charitable giving
Stock options
Financial education or assistance
Policies Summary
Policy coverage standards can differ greatly across countries. The table below shows what statutory, market standard and great policy coverage look like for each benefit.
15 days paid
12 public holidays
30 days paid
12 Public holidays
Unlimited
30 days after first 6 mos
2 months
3 months
4 months unpaid; 60% salary from UIF for first 121 days
4 months paid leave
4 months paid in full
10 unpaid days
20 days paid leave
3 months paid in full
Employees value flexible work arrangements highly, and this is a great way to reduce employees’ overall stress and improve well-being