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Employee Benefits in Austria

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

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.

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.

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

Table Of Contents

Employee Benefits in Austria
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 Austria
5 Regulations
6 State and Compulsory Benefits
6.2 Retirement Benefits
6.2.1 Introduction
6.2.2 Types of retirement plan
6.2.3 Eligibility
6.2.4 Age
6.2.5 Pensionable salary
6.2.6 Benefits
6.2.7 Payment options
6.2.8 Typical employer practice
6.2.9 Employee and employer contributions
6.2.10 Taxation
6.3 Death in Service
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 contributions
6.3.7 Taxation
6.4 Long-Term Disability 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 contributions
6.4.7 Taxation
6.5 Short-Term Sickness 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 contributions
6.5.7 Taxation
6.6 Medical Benefits
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 contributions
6.7 Workmen's Compensation Insurance
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment options
6.7.5 Typical employer practice
6.7.6 Employee and employer contributions
6.7.7 Taxation
6.8 Maternity and Paternity Benefits
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment options
6.8.5 Employee and employer contributions
6.8.6 Taxation
6.9 Family Benefits
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment options
6.9.5 Employee and employer contributions
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 contributions
6.10.6 Taxation
6.11 Long-Term Care
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Payment options
6.11.5 Employee and employer contributions
6.11.6 Taxation
6.12 Unemployment
6.12.1 Introduction
6.12.2 Eligibility
6.12.3 Benefits
6.12.4 Payment options
6.12.5 Employee and employer contributions
6.12.6 Taxation
7 Private Benefits
7.1 Retirement Benefits
7.2 Disability Benefits
7.3 Death Benefits
7.4 Sickness Benefits
7.5 Medical and Health 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 by key sector
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 Labor force
8.2.2 Total population
8.2.3 Urban and rural populations
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: Austria - Country Statistics
Table 3: Austrian State and Compulsory Benefits - Contribution of Employer and Employee
Table 4: Austrian State and Compulsory Benefits - Reference Rates for Equalization Supplement
Table 5: Austrian Retirement Benefits - Eligibility
Table 6: Austrian Retirement Benefits - Age
Table 7: Austrian Death in Service - Eligibility
Table 8: Austrian Family Benefits - Child Benefit According to Age (from July 2014)
Table 9: Austrian Family Benefits - Child Benefit According to the Number of Children
Table 10: Austrian Family Benefits - Five Options of Child-Raising Allowance
Table 11: Austrian Long-Term Care - Categories and Benefits

List of Figures
Figure 1: Major Organizations in the Austrian Social Security System
Figure 2: Austrian GDP at Constant Prices (US$ Billion), 2009-2013
Figure 3: Austrian GDP Per Capita at Constant Prices (US$), 2009-2013
Figure 4: Austrian GDP at Current Prices (US$ Billion), 2009-2013
Figure 5: Austrian GDP Per Capita at Current Prices (US$), 2009-2013
Figure 6: Austrian GDP by Key Sector (%), 2008-2012
Figure 7: Austrian Inflation Rate (%),2009-2013
Figure 8: Austrian Annual Average Exchange Rate US$-EUR, 2009-2013
Figure 9: Austrian Unemployment Rate (%),2009-2013
Figure 10: Austrian Gross National Disposable Income (US$ Billion), 2009-2013
Figure 11: Austrian Gross National Disposable Income (US$ Billion), 2008-2012
Figure 12: Austrian Size of Labor Force (Million), 2008-2012
Figure 13: Austrian Total Population (Million), 2009-2013
Figure 14: Austrian Urban and Rural Populations (%), 2009-2013

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