The Netherlands: Benchmarking Employee Benefits in the Netherlands for 2020

The Netherlands: Benchmarking Employee Benefits in the Netherlands for 2020To get an insight into benchmarking employee benefits in the Netherlands, read this Netherlands market guide provided by Schouten Zekerheid.

Asinta’s Partner in the Netherlands, Schouten Zekerheid Employee Benefits, advises employers on insurable employee benefits to domestic and international companies, institutions, and industry associations. Their consultants manage a variety of projects, including market analyses, employee benefits benchmarking, employee health policies, mergers and acquisitions, and contract renewals for pension schemes. To help multinational employers new to benefits in the Netherlands, Schouten Zekerheid created this market guide as an overview.

General topics include:

The benefits landscape in the Netherlands — mandatory requirements, employee benefits (insurances), perks and fringe benefits

  • Typical benefit design and cost
  • Health and safety service (arbodienst)
  • Adviser remuneration

An example of what’s inside…
When benchmarking employee benefits in the Netherlands, know that retirement matters most.

If Collective Labor Agreements (CLAs) do not contain any mandatory arrangements, Defined Contribution (DC) pension schemes are the usual choice here. In DC schemes, employers make available an annual contribution to employees for the purpose of accruing a pension. The defined contribution depends on the age and salary of the individual employee. What is known as the AOW-franchise is a salary deduction (in 2020, at least € 14,167). What remains is the pensionable amount. Subsequently, the defined contribution calculation multiplies the premium percentage by the pensionable amount. The premium percentage bases uses a graduated scale for contributions (selected by the employer). The pension contribution grows through investment, and as of the employee’s retirement date, the lifelong payment of a retirement and partner pension is purchased using the accrued capital.

 

If you need support with your employee benefits in the Netherlands, please contact Asinta, and we will put you in touch with Schouten Zekerheid.