Employee Benefits in the Netherlands, 2022 Update - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis

Employee Benefits in the Netherlands, 2022 Update - Key Regulations, Statutory Public and Private Benefits, and Industry Analysis

Summary

The Dutch social security system is one of the most comprehensive in Europe and is based on social insurance and supplementary income support schemes. It can be classified into three types: national insurance schemes, which consist of old-age pension (AOW) and child benefits (AKW); employee insurance schemes, which include unemployment benefits, long-term disability (WIA), and sickness (ZW); and social assistance. Contributions to national insurance schemes are based on an individual’s income. For employee insurance schemes, employers pay the majority of contributions, with employees paying a proportion of their wages. Employees need a Burger Service Number (BSN, previously known as a Sofi number) to register in the financial, tax, and social system.

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

Key Highlights

• de Nederlandsche Bank (DNB) and the Dutch Authority for the Financial Markets (AFM) is responsible for the functioning of the overall social security system. While the Ministry of Social Affairs and Employment and the Tax Authority is responsible for labor market policy
• 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 the Netherlands, employers provide voluntary retirement benefits to their employees through voluntary defined contribution and hybrid pension plans

Scope

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

• 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, leaves and holidays and private benefits
• It highlights the economic and regulatory situations relating to employee benefits in the Netherlands

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