Employee Benefits in Germany 2020

Employee Benefits in Germany 2020



Germany has a well-developed social security system. Both companies and employees equally contribute to social security schemes. Employees have to primarily contribute to nine statutory social security organizations: the statutory health insurance fund, the statutory long-term care insurance fund, the statutory short-term sickness fund, the statutory long-term disability fund, the statutory pension insurance fund, statutory accident insurance, statutory maternity and paternity fund, statutory family benefits and the statutory unemployment insurance fund.

Employers deduct tax and social security contributions from the gross wages of employees and directly transfer them to the tax office. For all the components of social security, there is a common fund. However, employees have the option to individually choose a health insurance provider. The increasing share of elderly people in the population coupled with a relatively low birth rate has forced the government to adopt several reforms to ensure a better social welfare system for future generations.

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

Key Highlights

- German social insurance is a comprehensive framework, which is based on legal foundations first formulated in the 19th century, with principles that are still valid today.
- All profitably employed persons, other than those with a salary of less than EUR450.00 (US$497.60) per month and persons with infrequent earnings or short-term employment of fewer than 50 days per year are eligible for social security
- The German Labor Law is mostly Federal Law and is spread across several acts. It regulates the association between employees and employers.
- In Germany, employers provide voluntary retirement benefits to their employees through voluntary insurance contracts

Scope

This report provides a detailed analysis of employee benefits in Germany -
- 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 Germany

Reasons to Buy

- Make strategic decisions using in-depth information related to employee benefits in Germany.
- Assess Germanys employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Germany.
- Gain insights into key organizations governing Germanys 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 GERMANY
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 Payment Options
6.1.5 Contributions
6.2 Death Benefits
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 Workers 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
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: Insurance Industry Definitions
Table 2: Germany - Country Statistics
Table 3: German Retirement Benefits - Employee and Employer Contributions
Table 4: German Benefits provided in case of sickness of a child
Table 5: German Medical Benefits Employee and Employer Contributions
Table 6: German Unemployment benefits Dependents supplement
Table 7: German Unemployment benefits Means test
Table 8: German Unemployment Benefits - Employee and Employer Contributions
Table 9:Germany-Public Holidays 2020

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