Liechtenstein Statutory and Private Employee Benefits (including Social Security) - Insights into Statutory Employee Benefits such as Retirement Benefits, Long-term and Short-term Sickness Benefits, Medical Benefits as well as Other State and Private Bene

Liechtenstein Statutory and Private Employee Benefits (including Social Security) - Insights into Statutory Employee Benefits such as Retirement Benefits, Long-term and Short-term Sickness Benefits, Medical Benefits as well as Other State and Private Benefits, 2022 Update

Summary

The principality of Liechtenstein’s social security system covers all persons residing or working in the country. State pensions, corporate or company pensions (a mandatory occupational scheme for employees), and private pensions are the three main pillars of Liechtenstein’s social security system. This network allows covering the risks related to sickness, invalidity, accidents at work and occupational diseases, healthcare, and unemployment, and to prepare financially for retirement. State and corporate pensions are mandatory, while private pensions are voluntary.

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

Key Highlights

• The Financial Market Authority, The Office of Economic Affairs, The Office of Public Health, Old-Age, Survivor, and Disability Insurance Institute, and The Office of Social Services 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 Liechtenstein, employers provide voluntary retirement benefits to their employees through occupational pension schemes, however, their prevalence is very low.

Scope

This report provides a detailed analysis of employee benefits in Liechtenstein -

• 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 benefits, Minimum resource benefit, leaves and holidays and private benefits
• It highlights the economic and regulatory situations relating to employee benefits in Liechtenstein

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