This report on benchmarking employee benefits in Portugal is designed to help benefit managers learn the fundamentals of employee benefits in the country. Inside you’ll learn about Portugal’s benefits landscape including mandatory, and common, supplementary benefits. Typical benefits design and costs are also included.
Example language from inside the guide…
Portugal once had one of the world’s most generous social security systems. However, the political reforms since 2007, and the increasingly understaffed and overcrowded National Health Service (NHS), have impacted this. Consequently, employers and individuals are now both more aware and more responsible for retirement and healthcare.
Health insurance is the most valued and popular employee benefit in Portugal, and it seems that it will continue to be, along with life insurance solutions. On the other hand, companies increasingly offer retirement plans because older employees value them. There is a continued interest in defined contribution plans. Specifically, 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 more and more valued such as company cars or co-payments of schools and/or education costs of employees’ children.