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Employee Benefits in Germany

  • March 2015
  • -
  • Timetric
  • -
  • 61 pages

Synopsis
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.

Summary
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.

Scope
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

Key Highlights
- 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.

Table Of Contents

Employee Benefits in Germany
Table of Contents
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
3 Country Statistics
4 Overview of Employee Benefits in Germany
5 Regulations
6 State and Compulsory Benefits
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of retirement plans
6.1.3 Eligibility
6.1.4 Age
6.1.5 Benefits
6.1.6 Payment options
6.1.7 Typical employer practice
6.1.8 Employee and employer contribution
6.1.9 Taxation
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment options
6.2.5 Typical employer practice
6.2.6 Employee and employer contribution
6.2.7 Taxation
6.3 Long-term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment options
6.3.5 Typical employer practice
6.3.6 Employee and employer contribution
6.3.7 Taxation
6.4 Short-term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment options
6.4.5 Typical employer practice
6.4.6 Employee and employer contribution
6.4.7 Taxation
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment options
6.5.5 Typical employer practice
6.5.6 Employee and employer contribution
6.5.7 Taxation
6.6 Workmen Compensation
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment options
6.6.5 Typical employer practice
6.6.6 Employee and employer contribution
6.6.7 Taxation
6.7 Maternity and Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment options
6.7.5 Employee and employer contributions
6.7.6 Taxation
6.8 Family Benefits
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment options
6.8.5 Employee and employer contribution
6.8.6 Taxation
6.9 Unemployment
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment options
6.9.5 Employee and employer contribution
6.9.6 Taxation
6.10 Minimum Resources
6.10.1 Introduction
6.10.2 Eligibility
6.10.3 Benefits
6.10.4 Payment options
6.10.5 Employee and employer contribution
6.10.6 Taxation
6.11 Long-term Care Insurance
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Payment options
6.11.5 Employee and employer contribution
6.11.6 Taxation
7 Private Benefits
7.1 Retirement Benefits
7.2 Disability Benefits
7.3 Death Benefits
7.4 Medical Benefits
7.5 Family Benefits
7.6 Other Benefits
8 Macroeconomic Indicators
8.1 Economic Performance
8.1.1 GDP at constant prices (US dollars)
8.1.2 GDP per capita at constant prices (US dollars)
8.1.3 GDP at current prices (US dollars)
8.1.4 GDP per capita at current prices (US dollars)
8.1.5 GDP split by key sectors
8.1.6 Inflation rate
8.1.7 Annual average exchange rate US$-EUR
8.1.8 Unemployment rate
8.1.9 Household Consumption Expenditure
8.1.10 Gross National Disposable Income
8.2 Demographics
8.2.1 Total Population
8.2.2 Urban and Rural Population
8.2.3 Labor force
9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer

List of Tables
Table 1: Definitions
Table 2: Germany - Country Statistics
Table 3: Germany - Recent Amendments to Regulations
Table 4: German Retirement Benefits - Employee and Employer Contributions
Table 5: German Death Benefits - Employee and Employer Contributions
Table 6: German Disability Benefits ? Employee and Employer Contributions
Table 7: German Short-Term Sickness Benefits ? Employee and Employer Contributions
Table 8: German Medical Benefits ? Employee and Employer Contributions
Table 9: German Workmen Compensation Insurance ? Employee and Employer Contributions
Table 10: German Maternity and Paternity Benefits ? Employee and Employer Contributions
Table 11: German Unemployment Benefits - Employee and Employer Contributions
Table 12: German Long-term Care Benefits ? Employee and Employer Contributions

List of Figures
Figure 1: German GDP at Constant Prices, (US$ Billion), 2009-2013
Figure 2: German GDP Per Capita at Constant Prices, (US$), 2009-2013
Figure 3: German GDP at Current Prices, (US$ Billion), 2009-2013
Figure 4: German GDP Per Capita at Current Prices, (US$), 2009-2013
Figure 5: German GDP by Key Segments (%), 2009-2013
Figure 6: German Inflation Rate (%), 2009-2013
Figure 7: German Annual Average Exchange Rate US$-EUR, 2009-2013
Figure 8: German Unemployment Rate (%), 2009-2013
Figure 9: German Household Consumption Expenditure (Billions), 2009-2013
Figure 10: German Gross National Disposable Income (US$ Billion), 2008-2012
Figure 11: German Total Population (Million), 2009-2013
Figure 12: German Urban and Rural Population (%), 2009-2013
Figure 13: German Size of Labor Force (Million), 2009-2013

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