Employee Benefits Report

Product Employee Benefits Reports Rev Peru

Key Highlights

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

  • 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 Peru. 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 Peru provides expert analysis of the Peruvian benefits landscape, detailing state and compulsory benefits and local market practice across necessary to know when employing staff in Peru 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 Peru, 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 Peru, the report outlines the employment benefits requirements for your employees in Peru. 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 Peru, the local political situation, and climate, operational, and security risks.

Peru Report Extract

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


Benefit Provider

State & Compulsory Benefits

Retirement benefits are provided through the:

  • National Pension System (Sistema Nacional de Pensiones - SNP), administered by the Office of Pensions Administration (Oficina de Normalizacion Previsional - ONP), or
  • Private Pension System (Sistema Privado de Pensiones - SPP), administered by pension fund administration companies (Administradora de Fondos de Pensiones - AFP).

Employees may choose coverage under the National Pension System or the Private Pension System within 10 days of joining the workforce; where the employee does not make a choice, the employee is automatically covered under the Private Pension System with the AFP offering the lowest administration fees at the date of entry (AFP Integra from 1 June 2021 until 31 May 2023).

The government has announced a new pension reform;  ...

Typical Employer Practice

Employers do not typically provide supplementary retirement benefits.

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 are provided by employers through:

  • severance pay for termination of employment without just cause, and
  • compensation for period of service (Compensacion por Tiempo de Servicios - CTS).

Employer contributions covering CTS are payable bi-annually in May and November in respect of the preceding six month period; total bi-annual employer contributions are equal to 1/12 of the employee's prescribed bi-annual remuneration.

The employee's prescribed remuneration for contribution purposes is calculated as the sum of the following:


Typical Employer Practice

Employers do not typically provide supplementary termination indemnities, however, local leading employers may offer a discretionary long service bonus to employees who have completed ...

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

Back to Report Store

You may also be interested in these reports...


Ready to talk? We're here to help.

Whether you need more information or to discuss which products are best suited to your needs, our dedicated team are here to help.

Get in touch