Employee Benefits in Austria 2021

Employee Benefits in Austria 2021

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.

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.

Key Highlights

- In Austria, Public social protection institutions run different schemes at both a central and local level.
- At the central level, the ministries and the national agencies are responsible for providing protection to individuals in the form of sickness and health, maternity, old-age, workplace accident, family and child, unemployment and invalidity benefits, the institutes are Hauptverband der sterreichischen Sozialversicherungstrger (The Main Association of Austrian Social Security Institutions ), Bundesministerium fr Gesundheit (The Federal Ministry of Health), Bundesministerium fr Arbeit, Soziales und Konsumentenschutz (The Federal Ministry of Labor, Social Affairs and Consumer Protection) and Bundesministerium fr Wirtschaft, Familie und Jugend (The Federal Ministry of Economy, Family, and Youth).
- At a local level, the officers of the mayor and the countys general executives are responsible for providing social assistance and child protection cover.
- In Austria, private social protection institutions are the pension companies responsible for providing benefits such as invalidity, old-age and survivors pensions.
- Private social service providers largely cover individuals with long-term care needs.

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, 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 Austria

Reasons to Buy

- Make strategic decisions using in-depth information related to employee benefits in Austria.
- Assess Austrias 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 Austrias employee benefits, and their impact on companies.

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
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Eligibility
6.1.3 Benefits
6.1.4 ayment Options
6.1.5 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 Workmens 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 Long Term Care Benefits
6.8.3 Minimum Resources
6.8.4 Unemployment 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 and Dismemberment Benefits
7.6 Other Benefits
8 APPENDIX
8.1 Methodology
8.2 Contact GlobalData
8.3 About GlobalData
8.4 GlobalDatas Services
8.5 Disclaimer

List Of Tables

Table 1: Austria Minimum Pension Rates 2021
Table 2: Insurance Industry Definitions
Table3: Austria - Country Statistics
Table 4: Austria Minimum Pension Rates 2021
Table 5: Austrian State and Compulsory Benefits - Contribution of Employer and Employee
Table 6: Austrian State and Compulsory Benefits - Reference Rates for Equalization Supplement, 2021
Table 7: Austria Minimum Pension Rates 2021
Table 8: Austria Compensatory Allowance Rates 2021
Table 9: Austria Compensatory Pension Bonus 2021
Table 10: Austrian Family Benefits - Child Benefit According to Age, 2021
Table 11: Austrian Family Benefits - Child Benefit According to the Number of Children, 2021
Table 12: Austrian Long-Term Care - Categories and Benefits, 2021
Table 13: Austria Public Holidays 2021

List Of Figures

Figure 1: Austria - Main Institutions of Social Security System

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