Employee Benefits in Denmark 2020

Employee Benefits in Denmark 2020



Denmark is one of the few countries in the world that adjusted well to the challenge of providing an established social security system and a flexible labor market for its citizens. It was one of the first countries to adopt a multi-pillar pension system, comprising a flat-rate residence-based national pension and private occupational pensions based on collective agreements. The first pillar is the state and compulsory pillar, providing universal cover. It consists of two tiers - the first is a residence-based Folkepension (national or social pension), while the second consists of fully funded supplementary schemes. The second pillar is a quasi-mandatory scheme, which includes privately managed fully funded occupational schemes, and the third pillar consists of voluntary, supplementary pension schemes, which are managed by banks or insurance companies. Most branches of the Danish social security system are compulsory, except unemployment insurance, and are financed by taxation.

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

Key Highlights


- Old-age and survivors pension, unemployment, maternity and paternity benefits, insurance against accidents at work, insurance against occupational diseases, family benefits, compulsory insurance for healthcare are the main state and compulsory benefits in force in Denmark.
- Pension benefits are usually paid in the form of annuities. Individuals who don’t have sufficient funds to receive pensions will be paid benefits in the form of lump sum amount or periodic payments for up to five years.
- Private pension benefit schemes come under the third pillar and are classified as voluntary occupational pension schemes.

Scope

This report provides a detailed analysis of employee benefits in Denmark -
- 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, medical benefits, workmens compensation insurance, maternity and paternity benefits, family benefits, unemployment, leave and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Denmark

Reasons to Buy

- Make strategic decisions using in-depth information related to employee benefits in Denmark.
- Assess Danish employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Denmark.
- Gain insights into key organizations governing Danish employee benefits, and their impact on companies.

 

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 DENMARK
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 Contributions
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 Contributions
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 Contributions
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 Contributions
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment options
6.5.5 Contributions
6.6 Workmen’s Compensation Insurance
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment options
6.6.5 Contributions
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 Contributions
6.8 Other Benefits
6.8.1 Family Benefits
6.8.2 Unemployment Benefits
6.8.3 Minimum Resources
6.8.4 Long-term care Benefits
6.8.5 Leaves and Holidays
7. PRIVATE BENEFITS
7.1 Retirement Benefits
7.2 Death Benefits
7.3 Disability Benefits
7.4 Medical Benefits
7.5 Accidental Death & Dismemberment Benefits
8. APPENDIX
8.1 Methodology
8.2 Contact GlobalData
8.3 About GlobalData
8.4 GlobalData’s Services
8.5 Disclaimer

 


List Of Tables


Table 1: Insurance Industry Definitions
Table 2: Denmark - Country Statistics
Table 3: Danish Medical Benefits - Cost of Medicines Covered by the Insured
Table 4: Danish Quarterly Child Benefits
Table 5: Denmark Leave - Fixed National and Public Holidays 2020

 


List Of Figures


Figure 1: Major Organizations of the Danish Social Security System

 


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