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Employee Benefits in Liechtenstein

  • March 2015
  • 49 pages
  • Timetric
Report ID: 2796455

Summary

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Synopsis
The report provides in-depth industry analysis, information and insights of the employee benefits in Liechtenstein, including: overview of the state and compulsory benefits in Liechtenstein, detailed information about the private benefits in Liechtenstein, 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 Liechtenstein.

Summary
The principality of Liechtenstein’s social security system covers all persons residing or working in the country. State pensions, corporate or company pensions (a mandatory occupational scheme for employees) and private pensions are the three main pillars of Liechtenstein’s social security system. This network allows to cover the risks related to sickness, invalidity, accidents at work and occupational diseases, healthcare and unemployment, and to prepare financially for retirement. State and corporate pensions are mandatory, while private pensions are voluntary.

Scope
This report provides a detailed analysis of employee benefits in Liechtenstein:

- 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, maternity and paternity benefits, family benefits, minimum resources, long-term care benefits, unemployment and private benefits

- It highlights the economic and regulatory situations relating to employee benefits in Liechtenstein

Reasons To Buy
- Make strategic decisions using in-depth information related to employee benefits in Liechtenstein

- Assess the Liechtenstein's employee benefits market, including state and compulsory benefits and private benefits

- Gain insights into the key employee benefit schemes offered by private employers in Liechtenstein

- Gain insights into key organizations governing Liechtenstein employee benefits, and their impact on companies

Key Highlights
- State pensions (social insurance – first pillar), corporate or company pensions (mandatory occupational scheme for employees – second pillar) and voluntary private pensions (third pillar) are the three main pillars of the Liechtenstein’s social insurance system. State pensions and corporate pensions are mandatory, while private pensions are voluntary.

- The Ministry for Social Affairs is responsible for the country’s social welfare and social insurance. Created in 2013, the Ministry coordinates most of Liechtenstein’s social security system, including old-age and surviving dependents’ insurance, health insurance and maternity allowances.

- Voluntary private insurance is designed to supplement the first and second pillars at an individual level. The third pillar is 100% funded by employees.

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