This 2021 market and benchmark insight report for Lithuania is an easy way to get the fundamental information you need to know about offering employee benefits in the country. The report is prepared by Asinta’s employee benefits consulting Partner in Lithuania, MAI CEE. The material is easy to understand and gives you a solid footing to help you move forward confidently with your decisions about the benefits you want to offer employees in Lithuania.
Inside the report, you’ll find details about benchmarking employee benefits in Lithuania for 2021 including:
- Statutory Benefits
- Insured Benefits
- Fringe Benefits and Perks
- Plan Setup
The following is an excerpt.
Both employers and employees are beginning to understand that they must contribute to both pension provisions and health insurance costs because the government programs are not enough on their own. This awareness is primarily due to political reforms and the increasingly understaffed and overcrowded National Health Service (NHS).
Health insurance is the most valued and popular employee benefit in Lithuania, and it seems that it will continue to be, along with life insurance solutions. In addition, pension schemes are increasingly offered by companies because older employees value them.
There is a continued interest in defined contribution plans. Most of the new schemes implemented by employers are defined contribution plans with the possibility of voluntary individual contributions made by employees.
Despite that, other social benefits are becoming more and more valued, such as company cars or co-payments for dependent children’s education.