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

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

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, several 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 an 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 Ministry for National Economy, National Health Insurance Fund, Hungarian State Treasury, and National Tax and Custom Administration organizations 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 Hungary, employers provide voluntary retirement benefits to their employees through voluntary pension schemes, employer pension funds.


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, grant-in-aid, social relief distress, compensation, leaves and holidays 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 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