The report provides in-depth industry analysis, information and insights of the employee benefits in Germany, including: overview of the state and compulsory benefits in Germany, detailed information about the private benefits in Germany, 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 Germany.
Germany has a well-developed social security system. Both companies and employees equally contribute to social security schemes. Employees have to primarily contribute to nine statutory social security organizations: the statutory health insurance fund, the statutory long-term care insurance fund, the statutory short-term sickness fund, the statutory long-term disability fund, the statutory pension insurance fund, statutory accident insurance, statutory maternity and paternity fund, statutory family benefits and the statutory unemployment insurance fund. Employers deduct tax and social security contributions from the gross wages of employees and directly transfer them to the tax office. For all the components of social security there is a common fund. However, employees have the option to individually choose a health insurance provider. The increasing share of elderly people in the population coupled with a relatively low birth rate has forced the government to adopt several reforms to ensure a better social welfare system for future generations.
This report provides a detailed analysis of employee benefits in Germany:
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, short-term sickness benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, , family benefits, unemployment benefits, minimum resources, long-term care insurance, and private benefits
It highlights the economic and regulatory situations relating to employee benefits in Germany
Reasons To Buy
Make strategic business decisions using in-depth information related to German employee benefits
Assess German employee benefits market including state and compulsory benefits and private benefits
Gain insights into the key employee benefits schemes offered by the private employers in Germany
Gain insights into key regulations governing German employee benefits and its impact on companies
The German social security system covers a large proportion of the population and plays a significant role in the country’s employee benefits market.
Employees, self-employed persons, unemployed persons, persons taking care of children younger than three, persons doing community service and voluntary care workers are all covered under the country’s social security system.
The private pension schemes can be availed through a bank or an insurance company. Defined benefit (DB) plans still mostly exist in the country, but defined contribution (DC) schemes are gaining importance gradually. Some organizations even offer hybrid plans.