Employee Benefits in Belgium 2021 - Research and Markets

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 Highlights

The National Pension Office administers the branch of old-age and survivors' pensions
The National Institute for Sickness and Invalidity Insurance: Administers the contributions and benefits for sickness, maternity, and invalidity
Voluntary occupational pension plans are provided under Pillar II, and voluntary individual pension arrangements are provided under Pillar III
Medical benefits are provided through medical insurance plans
Employers provide death benefits to the employees through group life insurance plans

Scope

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 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, leave and private benefits
It highlights the economic and regulatory situations relating to employee benefits in Belgium

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

1. Executive Summary

2. Introduction

2.1 What is this Report about?
2.2 Definitions

3. Country Statistics4. Overview of Employee Benefits in Belgium5. Regulations

6. State and Compulsory Benefits

6.1 Retirement Benefits

Introduction
Eligibility
Benefits
Payment options
Contribution

6.2 Death in Service

Introduction
Eligibility
Benefits
Payment options
Contribution

6.3 Long-Term Disability Benefits

Introduction
Eligibility
Benefits
Payment options
Contribution

6.4 Short-Term Sickness Benefits

Introduction
Eligibility
Benefits
Payment options
Contribution

6.5 Medical Benefits

Introduction
Eligibility
Benefits
Payment options
Contribution

6.6 Workers’ Compensation insurance

Introduction
Eligibility
Benefits
Payment options
Contribution

6.7 Maternity and Paternity Benefits

Introduction
Eligibility
Benefits
Payment options
Contribution

6.8 Other Benefits

Unemployment Benefits
Family Benefits
Minimum Resources
Long-Term Care Benefits
Leaves and Holidays

7. Private Benefits

7.1 Retirement Benefits
7.2 Death Benefits
7.3 Medical Benefits
7.4 Disability Benefits
7.5 Accidental and Dismemberment Benefits
7.6 Other Benefits

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List of Tables

Table 1: Insurance Industry Definitions
Table 2: Belgium - Country Statistics
Table 3: Employee Notice Period
Table 4: Belgium-Pension Bonus for Career Years from January 1, 2014
Table 5: Maternity Benefits
Table 6: Young Unemployed Benefits
Table 7: Basic Allowance
Table 8: Monthly Age Supplements
Table 9: Social Supplements
Table 10: Special monthly allowances for disabled children
Table 11: Belgium -Public Holidays 2021

List of Figures

Figure 1: Belgium - Main Institutions of Social Security System