Summary
Following independence in 1993, the Slovak government reformed taxation, healthcare, pensions and the social welfare system. These reforms helped the government to consolidate the budget and move towards joining the EU in 2004. The country also introduced several investor-friendly policies - including labor market liberalization and a flat 19% tax regime - which encouraged global investors to participate in the country’s economy until 2008; particularly in the automotive and electronic sectors.
The report provides in-depth industry analysis, information and insights of the employee benefits in Slovakia, including: overview of the state and compulsory benefits in Slovakia, detailed information about the private benefits in Slovakia, 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 Slovakia.
Key Highlights
- The Slovak social security system consists of four main branches: social insurance, health insurance, state social support and social assistance.
- Compulsory pension insurance consists of mandatory old-age insurance and a mandatory pension saving system.
- Social assistance is given to low income and disabled people.
- All cash benefits are funded by contributions from employees, employers and self-employed people under the competence of the Ministry of Labor, Social Affairs and Family; primarily through the Social Insurance Agency.
Scope
- This report provides a detailed analysis of employee benefits in Slovakia.
- 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, leave and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Slovakia.
Reasons to buy
- Make strategic decisions using in-depth information related to employee benefits in Slovakia.
- Assess Slovak employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Slovakia.
- Gain insights into key organizations governing Slovak employee benefits, and their impact on companies.
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Table of Contents
1 EXECUTIVE SUMMARY
2 INTRODUCTION
2.1 What is this Report About?
2.2 Definitions
3 COUNTRY STATISTICS
4 OVERVIEW OF EMPLOYEE BENEFITS IN SLOVAKIA
5 REGULATIONS
6 STATE AND COMPULSORY BENEFITS
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of Retirement Plan
6.1.3 Eligibility
6.1.4 Age
6.1.5 Benefits
6.1.6 Payment Options
6.1.7 Employee and employer contributions
6.1.8 Taxation
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits
6.2.4 Payment Options
6.2.5 Employee and employer contributions
6.2.6 Taxation
6.3 Long-Term Disability Benefits
6.3.1 Introduction
6.3.2 Eligibility
6.3.3 Benefits
6.3.4 Payment Options
6.3.5 Employee and employer contributions
6.3.6 Taxation
6.4 Short-Term Sickness Benefits
6.4.1 Introduction
6.4.2 Eligibility
6.4.3 Benefits
6.4.4 Payment Options
6.4.5 Employee and employer contributions
6.4.6 Taxation
6.5 Medical Benefits
6.5.1 Introduction
6.5.2 Eligibility
6.5.3 Benefits
6.5.4 Payment Options
6.5.5 Typical employer practice
6.5.6 Employee and employer contributions
6.5.7 Taxation
6.6 Workmen’s Compensation Insurance
6.6.1 Introduction
6.6.2 Eligibility
6.6.3 Benefits
6.6.4 Payment options
6.6.5 Employee and employer contributions
6.6.6 Taxation
6.7 Maternity and Paternity Benefits
6.7.1 Introduction
6.7.2 Eligibility
6.7.3 Benefits
6.7.4 Payment Options
6.7.5 Typical employer practice
6.7.6 Employee and employer contributions
6.7.7 Taxation
6.8 Family Benefits
6.8.1 Introduction
6.8.2 Eligibility
6.8.3 Benefits
6.8.4 Payment Options
6.8.5 Employee and employer contributions
6.8.6 Taxation
6.9 Minimum Resources
6.9.1 Introduction
6.9.2 Eligibility
6.9.3 Benefits
6.9.4 Payment Options
6.9.5 Employee and employer contributions
6.9.6 Taxation
6.1 Long-term care Benefits
6.10.1 Introduction
6.10.2 Eligibility
6.10.3 Benefits
6.10.4 Payment Options
6.10.5 Employee and employer contributions
6.10.6 Taxation
6.11 Unemployment Benefits
6.11.1 Introduction
6.11.2 Eligibility
6.11.3 Benefits
6.11.4 Payment Options
6.11.5 Employee and employer contributions
6.11.6 Taxation
7 PRIVATE BENEFITS
7.1 Retirement Benefits
7.2 Disability Benefits
7.3 Death Benefits
7.4 Sickness Benefits
7.5 Medical and Health Benefits
7.6 Other Benefits
8 APPENDIX
8.1 Methodology
8.2 Contact GlobalData
8.3 About GlobalData
8.4 GlobalData’s Services
8.5 Disclaimer
List of Tables
Table 1: Insurance Industry Definitions
Table 2: Slovakia - Country Statistics
Table 3: Retirement Benefits: Assessment Base
Table 4: Minimum Insurance Period
Table 5: Short-term Sickness Benefits: Rate of Benefit
Table 6: Short-term Sickness Benefits: Assessment Base
Table 7: Maternity Benefits: Birth Grant (Lump-Sum), 2017
Table 8: Maternity Benefits: Assessment Base
Table 9: Family Benefits: Birth Grant (Lump-Sum), 2017
Table 10: Minimum Resources: Amount of Benefit in Material Need, 2017
List of Figures
Figure 1: Slovakia - Main Institutions of Social Security System
