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Employee Benefits in Austria 2020

Employee Benefits in Austria 2020

Summary

The Austrian social security system covers a large proportion of the population. The major principles upon which the system is based are statutory insurance, solidarity, and the self-administration of insurance providers. The main objectives of the Austrian labor market policy are to achieve full employment, keep older employees in work for longer, develop human resources, re-activate the unemployed, and combat the long-term unemployment. The country is one of the 12 richest in the world, in terms of GDP, and its unemployment rate is among the lowest in EU member states.

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

Key Highlights

- The Main Association of the Social Security Institutions is responsible for the functioning of the overall social security system.
- There are 22 insurance funds responsible for the implementation of social insurance included in the association.
- The state pension system is a PAYG pensioners' benefits scheme, funded by the contributions and taxes paid by actively working Austrians.
- In addition to the mandatory contributions to the statutory pension scheme, the majority of employers in Austria provide supplementary Occupation Pension plans.

Scope

This report provides a detailed analysis of employee benefits in Austria -
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It 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 benefits
- It highlights the economic and regulatory situations relating to employee benefits in Austria

Reasons to Buy

- Make strategic decisions using in-depth information related to employee benefits in Austria.
- Assess Austria's employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Austria.
- Gain insights into key organizations governing Austria's employee benefits, and their impact on companies.
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Employee Benefits in Austria 2020
Published By :GlobalData
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