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Employee Benefits in Estonia

  • October 2014
  • -
  • Timetric
  • -
  • 58 pages

The report provides in-depth industry analysis, information and insights of the employee benefits in Estonia, including:
- Overview of the state and compulsory benefits in Estonia
- Detailed information about the private benefits in Estonia
- Insights on various central institutions responsible for the administration of the different branches of social security
- The regulatory framework and recent regulations relating to Estonian employee benefits

Estonia has a well-developed social security system that covers the risks of employees, self-employed persons and their family members. The Estonian social protection system includes pension, health and unemployment insurance. Pension and health insurance are financed by social taxes, while unemployment insurance is financed by contributions. Benefits for disabled individuals, the national pension, death grants and family benefits are funded by general state revenues. The Ministry of Social Affairs is accountable for social security, social care and welfare. The main reforms of the Estonian pension system took place in the late 1990s. In 1999, the first pillar (state pension insurance schemes) was restructured, the second pillar (compulsory funded pension schemes) was introduced in 2002 and the third pillar (private pension schemes) was established in 1998. Private pension programs are offered to employees by the private companies in Estonia.

This report provides a detailed analysis of employee benefits in Estonia:
- 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 benefits, long-term disability benefits, short-term sickness, medical benefits, workmen’s compensation, maternity and paternity benefits, family benefits, unemployment, minimum resources, long-term care insurance and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Estonia

Reasons To Buy
- Make strategic decisions using in-depth information related to Estonian employee benefits
- Assess the Estonian employee benefits market, including state and compulsory benefits and private benefits
- Gain insights into the key employee benefit schemes offered by private employers in Estonia
- Gain insights into key regulations governing Estonian employee benefits, and their impact on companies

Key Highlights
- The pension system in Estonia is built on three pillars
- First pillar consists of old-age (retirement) pensions based on the total duration of employment, and flat-rate national pensions.
- Second pillar is fully funded pension insurance based on private asset management under state supervision and plans take the form of a defined contribution model
- All individuals can voluntarily participate in private pension schemes (voluntary supplementary pension schemes) under the third pillar

Table Of Contents

Employee Benefits in Estonia
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 Estonia
5 Regulations
6 State and Compulsory Benefits
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Eligibility
6.1.3 Age
6.1.4 Benefits
6.1.5 Payment options
6.1.6 Employee and employer contributions
6.1.7 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 Employee and employer contributions
6.2.6 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 Employee and employer contributions
6.3.6 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 Employee and employer contributions
6.4.6 Taxation
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Employee and employer contributions
6.6 Workmen's Compensation
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Employee and employer contributions
6.6.5 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 contributions
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 contributions
6.9.6 Taxation
6.1 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 Insurance
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Employee and employer contributions
6.11.5 Taxation
7 Private Benefits
7.1 Private Pension Schemes
7.2 Other Private Benefits in Estonia
8 Macroeconomic Indicators
8.1 Economic Performance
8.1.1 GDP at constant prices (US$)
8.1.2 GDP per capita at constant prices (US$)
8.1.3 GDP at current prices (US$)
8.1.4 GDP per capita at current prices (US$)
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 Total population
8.2.2 Labor force
8.2.3 Urban and rural population
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: Estonia - Country Statistics
Table 3: Estonia - Qualifying Period for Long-term Disability Benefit
Table 4: Estonian Long-term Care Benefits in Kind

List of Figures
Figure 1: Estonian GDP at Constant Prices (US$ Billion), 2008-2012
Figure 2: Estonian GDP Per Capita at Constant Prices (US$), 2008-2012
Figure 3: Estonian GDP at Current Prices (US$ Billion) 2008-2012
Figure 4: Estonian GDP Per Capita at Current Prices (US$), 2008-2012
Figure 5: Estonian GDP by Key Sector (%), 2008-2012
Figure 6: Estonian Inflation Rate (%), 2007-2013
Figure 7: Estonian Annual Average Exchange Rate US$-EUR, 2008-2012
Figure 8: Estonian Unemployment Rate (%), 2008-2012
Figure 9: Estonian Household Consumption Expenditure (US$ Billion), 2008-2012
Figure 10: Estonian Gross National Disposable Income (US$ Billion), 2008-2012
Figure 11: Estonian Total Population (Million), 2008-2012
Figure 12: Estonian Size of Labor Force (Million), 2008-2012
Figure 13: Estonian Urban and Rural Population (%), 2008-2012

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