Employee Benefits in the Czech Republic 2024

Employee Benefits in the Czech Republic 2024

Summary

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

The Czech Republic has a well-developed social security system, and employers, employees, and self-employed persons contribute to social security schemes. The Czech social security system is built on three pillars: compulsory social insurance, state social support system, and social assistance. Compulsory social insurance covers pension insurance, health insurance, and the national employment policy system. The non-contributory state social support system supports families with dependent children. The final pillar, tax-financed social assistance provides benefits to persons with disabilities and assistance to those with insufficient income. The sickness insurance scheme is obligatory for employees and voluntary for self-employed persons. Some groups such as students and women on maternity leave are insured without contributions if certain conditions are met.

Key Highlights

• Czech Social Security Administration, and Minister of Labour and Social Affairs 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 a credited contribution.
• In the Czech Republic, employers provide voluntary retirement benefits to their employees through occupational pension scheme

Scope

This report provides a detailed analysis of employee benefits in the Czech Republic -

• 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, long term care, minimum resources, leaves, and holidays and private benefits
• It highlights the economic and regulatory situations relating to employee benefits in the Czech Republic

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