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Employee Benefits in Austria

  • March 2015
  • -
  • Timetric
  • -
  • 72 pages

Summary

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Synopsis
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.

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.

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, short-term sickness benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, minimum resources, long-term benefits, unemployment benefits 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 Austrian 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 Austrian employee benefits, and their impact on companies.

Key Highlights
- The Austrian social security system is based on the country’s statutory insurance system, which is funded through a pay-as-you-go (PAYGO) system, under which the contributions made by the insured are not accumulated, but are used to cover the benefits being paid to others at the same time

- The Austrian statutory insurance system provides pension, health and accident insurance, along with unemployment, social care and support

- Personal development and training activities, car allowance, mobility, share option plan, appraisal interview, flexi-timings and health and employee safety programs are some of the private benefits provided in Austria

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