Benchmarking Employee Benefits in Portugal for 2020

benchmarking employee benefits in Portugal

Request Asinta’s Market and Benchmark Insight Report for Portugal 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.

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 for schools and/or education costs of employees’ children.

If you have further questions about benchmarking employee benefits in Portugal, please contact us and we will put you in touch with VISAVIS.