Employee Benefits in Estonia 2020

Employee Benefits in Estonia 2020

  • November 2020 •
  • 51 pages •
  • Report ID: 5637884 •
  • Format: PDF
Employee Benefits in Estonia 2020

Summary
Estonia has a well-developed social security system that covers the risks of employees, self-employed persons and their family members.The Estonian social protection system includes pension, health, and unemployment insurance.

Pension and health insurance are financed by social taxes, while unemployment insurance is financed by contributions.General state revenues fund benefits for disabled individuals, the national pension, death grants, and family benefits.

The Ministry of Social Affairs is accountable for social security, social care, and welfare.The main reforms of the Estonian pension system took place in the late 1990s.

In 1999, the first pillar (state pension insurance schemes) was restructured, the second pillar (compulsory funded pension schemes) was introduced in 2002, and the third pillar (private pension schemes) was established in 1998. The private companies in Estonia offer private pension programs to employees.

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

Key Highlights
- The Estonian social protection system includes pension, health, and unemployment insurance. Pension and health insurance are financed by social tax, whereas unemployment insurance is financed by unemployment insurance contributions.
- General state revenues fund the remaining schemes such as unemployment allowance, benefits for disabled individuals, national pensions, death grants and family benefits.
- An insured person who is unemployed or unable to work and whose benefits have been exhausted is entitled to credited contribution.
- In Estonia, employers provide voluntary retirement benefits to their employees through voluntary insurance contracts

Scope
This report provides a detailed analysis of employee benefits in Estonia -
- 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 Estonia

Reasons to Buy
- Make strategic decisions using in-depth information related to employee benefits in Estonia.
- Assess Estonia’s employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Estonia.
- Gain insights into key organizations governing Estonia’s employee benefits, and their impact on companies.
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