Benchmarking Employee Benefits in Germany for 2020

Request Asinta’s Market and Benchmark Insight Report for Germany and get the essential information you need to move forward in your decisions about employee benefits in the country. The report reviews statutory benefits, insured benefits, fringe benefits and perks, plan setup, and onboarding.

The following is an excerpt.

Retirement financing is the biggest concern for employees for two reasons. The state pension amounts continue to decrease, and the retirement age increases. For example, early retirement is possible from age 62, albeit with reductions of 0.3% per month.

Every employer must, by law, transfer minimum contributions into the state pension system for both the employer and employee. Contributions to the state pension do not accumulate into a cash-backed fund on behalf of the employee. Instead, they receive payment from current income from the pension insurance. This is by means of an allocation process (pay-as-you-go system).

 

If you have further questions about benchmarking employee benefits in Germany, please contact Asinta, and we will put you in touch with Profion.