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Employee Benefits in Hungary, 2020 Update

November 2020 | 54 pages | ID: E4B922627691EN
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Employee Benefits in Hungary, 2020 Update

SUMMARY

The Hungarian social security system is based on the fundamental principle of solidarity, and both employers and employees contribute. Self-employed persons also make full contributions and are entitled to receive benefits under the system. In addition to the social security benefits, a number of benefits such as a supplementary pension, healthcare benefit, unemployment benefit, disability, and death benefits are provided by private employers in Hungary.
The report provides in-depth industry analysis, information and insights of the employee benefits in Hungary, including: overview of the state and compulsory benefits in Hungary, detailed information about the private benefits in Hungary, 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 Hungary.
Key Highlights
  • The EEM administers statutory social insurance schemes including pension insurance and health insurance (including the statutory work accident system) in Hungary
  • It also manages and governs other branches of a social security system including a family support system and social assistance system.
  • The Hungarian State Treasury is a central budget organization and is an independent legal entity, which operates under the Ministry of National Economy. It is liable to look after the financing and regulatory functions during the implementation
  • In Hungary, employers provide voluntary retirement benefits to their employees through voluntary insurance contracts
SCOPE

This report provides a detailed analysis of employee benefits in Hungary -
  • 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, workmen's 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 Hungary
REASONS TO BUY
  • Make strategic decisions using in-depth information related to employee benefits in Hungary.
  • Assess Hungary'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 Hungary.
  • Gain insights into key organizations governing Hungary's 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 HUNGARY

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 GlobalData’s Services
8.5 Disclaimer

LIST OF TABLES

Table 1: Insurance Industry Definitions
Table 2: Hungary - Country Statistics
Table 3:Hungary-Percentage of Insurance Payout Depending on Years of Coverage
Table 4: Hungary - Pension (Based on Monthly Salary)
Table 5: Hungary - Pension Amounts (Percentage of Monthly Salary)
Table 6:Hungary: Rehabilitation Benefits
Table 7:Hungary-Disability Benefits
Table 8: Hungary - Family Allowance Per Month (2020)
Table 9: Hungary - Basic Leave
Table 10:Hungary-Additional Vacation Leaves
Table 11: Hungary-Public Holidays 2020

LIST OF FIGURES

Figure 1: Hungary- Main Institutions of Social Security System


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