This 2021 market and benchmark insight report for Moldova 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 Moldova, 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 Moldova.
Inside the report, you’ll find details about benchmarking employee benefits in Moldova for 2021 including:
- Statutory Benefits
- Insured Benefits
- Fringe Benefits and Perks
- Plan Setup
The following is an excerpt.
Employee benefits packages are purchased mainly by companies with foreign capital, regardless of activity. (e.g., IT, petroleum, sales, and marketing)
Smaller companies buy premium employee benefits products with larger limits and include the best private services. Larger companies prefer economy packages that give their employees quality, affordable benefits.
Salary levels directly influence benefit provisions. Employees pay tax on benefits, so it is essential benefits are affordable so employees accept them.
Company location influences benefit provisions and salaries, with the average monthly salary in Moldova being about €350. The best remuneration was in Chisinau (the capital of R. Moldova, where about 50% of the business is concentrated), Balti, and a few small cities. Over the last few years, the economic importance of small localities grew due to foreign investment in industry and services. Still, the average salaries are higher in Chisinau.
Moldova Benefits Menu
Moldova used to have a relatively modest social security system in terms of provided benefits.
Health Insurance is the most valued and popular employee benefit in Moldova, and it seems that it will continue to be, along with personal accident insurance solutions.
In the future, we anticipate pension schemes to be an option offered by companies because older employees value them. In addition, other social benefits (perks) such as wellness, gym memberships, and company cars are gaining in popularity.
Other helpful information
- Ministry of Health
- National Office of Social Insurance
- National Health Insurance Company
- MAI CEE Website
- Business Etiquette in Moldova