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Puerto Rico

Employee Benefits Report

Product Employee Benefits Reports Rev Puerto Rico

Key Highlights

Get access to Axco’s online product for a comprehensive understanding of employee benefits in Puerto Rico

  • Details of the state and compulsory benefits
  • Insight into typical market practice
  • Examines changes to the costs and benefits of social security and mandatory benefits requirements
  • Demographic and economic information including projections
  • Mandatory pension provision, normal and parental leave and other state benefits
  • Details of applicable taxation
  • Extensive geopolitical and operational risk analysis

Report Overview

Comprehensive employee benefits information for Puerto Rico. Details mandatory benefits and plans as well as typical market practice. Includes data on pensions and retirement benefits, employee leave and termination indemnities.

Axco's employee benefits report for Puerto Rico provides expert analysis of the Puerto Rican benefits landscape, detailing state and compulsory benefits and local market practice across necessary to know when employing staff in Puerto Rico or thinking of entering the market.

The comprehensive report is produced by a dedicated research team with years of experience in international employee benefits. The report outlines all key benefits in Puerto Rico, including insight into changes to the costs and benefits of social security and mandatory benefits requirements, as well as typical employer practice. Information and necessary details on new legislative mandates are regularly updated to ensure you remain compliant.

Suitable for international employee benefits consultants, brokers or corporates looking at establishing business in Puerto Rico, the report outlines the employment benefits requirements for your employees in Puerto Rico. Coverage extends to retirement benefits, death in service benefits, long-term disability, medical benefits, workers compensation, personal accident insurance, termination indemnities, maternity benefits & maternity/paternity benefits and other employee and state benefits.

Axco analysts also report on the economy of Puerto Rico, the local political situation, and climate, operational, and security risks.

Puerto Rico Report Extract

Below is a very brief extract of information from the Puerto Rico Employee Benefits Report; more updated information may be available in the latest published report.

Retirement

Benefit Provider

State & Compulsory Benefits

Retirement benefits are provided through the Old Age, Survivors and Disability Insurance (OASDI) programme (known locally as Social Security), administered by the US government's Social Security Administration (SSA).

Additionally, some of the rules under the US Setting Every Community Up for Retirement Enhancement Act (SECURE Act) may apply to Puerto Rico; the SECURE Act aims to encourage more widespread provision of employer-sponsored retirement plans.

Between 1 January 2023 and 31 December 2025, the Setting Every Community Up for Retirement Enhancement Act 2.0 (SECURE 2.0 Act) expands on the measures of the SECURE Act, such as ...

Typical Employer Practice

Axco's report provides the percentage of multinational and local leading employers that provide supplementary retirement benefits; benefits are typically provided through qualified retirement plans. Further information is given on the qualified retirement plans.

The report contains more information on retirement benefits including Benefit Provider; Type of Plan; Eligibility; Retirement Age; Pensionable Salary; Vesting and more



Termination Indemnities

Benefit provider

State & Compulsory Benefits

Termination indemnities (also known as severance pay) are provided by employers.

Typical Employer Practice

Employers may sometimes provide supplementary termination indemnities, although this is uncommon.

More information on Eligibility; When Benefit is Paid; Benefit details and the associated Taxation applicable to termination indemnities is available in the report.

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£550

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