Employee Benefits in Belgium 2021

Employee Benefits in Belgium 2021

Summary

The Belgian social security system covers a large proportion of the country’s population and plays a significant role in its employee benefits landscape. However, the recent debt crisis in the European Union (EU) member states had an adverse impact on the employee benefits market. The Belgian government has had to tackle economic imbalances and rising unemployment over the past few years, and the private benefits market was affected by the sovereign debt crisis. Both the state and private benefits markets in Belgium are undergoing transformation and are expected to improve in the coming years.

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

Key HighlightsThe National Pension Office administers the branch of old-age and survivors' pensionsThe National Institute for Sickness and Invalidity Insurance: Administers the contributions and benefits for sickness, maternity, and invalidityVoluntary occupational pension plans are provided under Pillar II, and voluntary individual pension arrangements are provided under Pillar IIIMedical benefits are provided through medical insurance plansEmployers provide death benefits to the employees through group life insurance plansScope

This report provides a detailed analysis of employee benefits in Belgium - It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefitsIt 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, leave and private benefitsIt highlights the economic and regulatory situations relating to employee benefits in BelgiumReasons to BuyMake 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