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Employee Benefits in Slovakia, 2020 Update

November 2020 | 66 pages | ID: E7F49E0612DEN
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Employee Benefits in Slovakia, 2020 Update

SUMMARY

Following independence in 1993, the Slovak government reformed taxation, healthcare, pensions, and the social welfare system. These reforms helped the government to consolidate the budget and move towards joining the EU in 2004. The country also introduced several investor-friendly policies - including labor market liberalization and a flat 19% tax regime - which encouraged global investors to participate in the country’s economy until 2008: particularly in the automotive and electronic sectors.
The report provides in-depth industry analysis, information and insights of the employee benefits in Slovakia, including: overview of the state and compulsory benefits in Slovakia, detailed information about the private benefits in Slovakia, 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 Slovakia.
Key Highlights
  • The Slovak social security system (except healthcare) is supervised by the Ministry of Labor, Social Affairs and Family
  • The Slovak healthcare system is regulated by the Ministry of Health. This ministry is accountable for controlling and providing healthcare services, including treatment in hospitals and medicines
  • The Social Insurance Agency (Soci?lna pois?ov?a) administers cash benefits provided under the social insurance scheme.
  • In Slovakia, employers provide voluntary retirement benefits to their employees through voluntary insurance contracts
SCOPE

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

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: Slovakia - Country Statistics
Table 3: Minimum Insurance Period
Table 4:Retirement Benefits: Assessment Base
Table 5: Short-term Sickness Benefits: Assessment Base
Table 6: Maternity Benefits:- Birth Grant (Lump Sum), 2020
Table 7: Maternity Benefits Assessment Base
Table 8: Family Benefits: Birth Grant (Lump-Sum), 2020
Table 9: Minimum Resources: Amount of Benefit in Material Need, 2020
Table 10: Slovakia-Public Holidays 2020

LIST OF FIGURES

Figure 1: Slovakia - Main Institutions of Social Security System
Figure 2: Three Pillars of the Slovak Old-Age Pension System


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