Employee Benefits in Belgium 2022 - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis

Employee Benefits in Belgium 2022 - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis

Summary

The Belgian social security system covers a large proportion of the country’s population and plays a significant role in its employee benefits landscape. However, the recent debt crisis in the European Union (EU) member states had adversely impacted the employee benefits market. The Belgian government has had to tackle economic imbalances and rising unemployment over the past few years, and the private benefits market was affected by the sovereign debt crisis. Both the state and private benefits markets in Belgium are transforming and are expected to improve in the coming years.

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

Key Highlights

• The National Institute for Health and Disability Insurance, National Pension Office, Energy, Federal Agency for Work risks, and Special Compensation Funds for Family Benefits, National Employment Office and the National Annual Holiday Office are responsible for the functioning of the overall social security system.
• A person’s national insurance contribution is determined based on their income.
• An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to credited contribution.
• In Belgium, employers provide voluntary retirement benefits to their employees through occupational pension funds, group insurance contracts and IORPs


Scope

This report provides a detailed analysis of employee benefits in Belgium-
• 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, compensation, leaves and holidays and private benefits
• It highlights the economic and regulatory situations relating to employee benefits in Belgium
Reasons to Buy
• Make strategic decisions using in-depth information related to employee benefits in the country
• Assess employee benefits of the market, including state and compulsory benefits and private benefits
• Gain insights into the key employee benefit schemes offered by private employers in the country
• Gain insights into key organizations governing employee benefits market, and their impact on companies