Liechtenstein Statutory and Private Employee Benefits (including Social Security) – Insights into Statutory Employee Benefits such as Retirement Benefits, Long-term and Short-term Sickness Benefits, Medical Benefits as well as Other State and Private Benefits, 2022 Update
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The principality of Liechtenstein’s social security system covers all persons residing or working in the country. State pensions, corporate or company pensions (a mandatory occupational scheme for employees), and private pensions are the three main pillars of Liechtenstein’s social security system. This network allows covering the risks related to sickness, invalidity, accidents at work and occupational diseases, healthcare, and unemployment, and to prepare financially for retirement. State and corporate pensions are mandatory, while private pensions are voluntary.
The Liechtenstein employee benefits market research report provides insights into the wide range of employee benefits such as retirement benefits, long-term and short-term sickness benefits, and medical benefits as well as other state and private benefits offered by employers in Liechtenstein.
Regulations Guiding Employee Benefits Market in Liechtenstein
The key regulations guiding the employee benefits market in Liechtenstein are Labor Law 1966, Sickness Insurance Act 1971, Maternity Allowance Act 1981, and Continued Remuneration Act 1994.
Liechtenstein Employee Benefits Market Segmentation by State and Compulsory Benefits
The key state and compulsory benefits offered by employers in Liechtenstein are retirement benefits, death in service, long-term disability benefits, short-term sickness benefits, medical benefits, workers’ compensation insurance, maternity and paternity benefits, and other benefits.
Medical Benefits: Medical (health) benefits in Liechtenstein are regulated by the Sickness Insurance Act (Gesetzüber die Krankenversicherung) and the School Dental Care Act (Gesetzüber die Schulzahnpflege). This is a compulsory social insurance scheme for all individuals with residence or economic activity (employees and self-employed persons) in Liechtenstein. There are two different schemes: compulsory health insurance and extended compulsory health insurance. Extended compulsory health covers part of the costs for non-contracted doctors.
Workers’ Compensation Insurance: Workmen’s compensation benefits in Liechtenstein are regulated by the Compulsory Accident Insurance Act (Gesetzüber die obligatorische Unfallversicherung). This is a compulsory social insurance scheme that covers accidents at work, occupational diseases, and travel between home and work, with benefits in kind and earnings-related cash benefits. Voluntary coverage is provided for self-employed persons.
Maternity and Paternity Benefits: Maternity and paternity benefits in Liechtenstein are regulated by the Sickness Insurance Act (Gesetzüber die Krankenversicherung) and Maternity Allowance Act (Gesetzbetreffend Ausrichtungeiner Mutterschaftszulage). The office for Health supervises and regulates accident insurance funds and ensures compliance. Health insurance funds accredited by the government and the Federation of Health Insurance Funds administer contributions and benefits.
Liechtenstein Employee Benefits Market Segmentation by Private Benefits
The key private benefits offered by the employers of Liechtenstein are retirement benefits, death benefits, medical benefits, disability benefits, and accidental death and dismemberment benefits.
Death Benefits: There are no standalone group death insurance plans. However, mandatory occupational pension plans and compulsory accidental policies provide death benefits. The plan is also available as part of mandatory occupational pension plans and compulsory accidental policies.
Medical Benefits: The compulsory health insurance scheme of the country covers a large percentage of the population. Employer-sponsored supplementary group medical plans are not prevalent in the country. Expats’ medical insurance solutions are available in the form of a comprehensive international insurance plan, which is customized based on the requirement of the employer, and preferably covers the repatriation.
Disability Benefits: Mandatory occupational pension plans and compulsory accidental policies provide disability benefits in Liechtenstein. Therefore, there are no standalone group disability insurance plans available in the country.
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Liechtenstein Statutory and Private Employee Benefits Market Report Overview
Key Regulations | Labor Law 1966, Sickness Insurance Act 1971, Maternity Allowance Act 1981, and Continued Remuneration Act 1994 |
Key State and Compulsory Benefits | Retirement Benefits, Death in Service, Long-Term Disability Benefits, Short-Term Sickness Benefits, Medical Benefits, Workers’ Compensation Insurance, Maternity and Paternity Benefits, and Other Benefits |
Key Private Benefits | Retirement Benefits, Death Benefits, Medical Benefits, Disability Benefits, and Accidental Death and Dismemberment Benefits |
Scope
This report provides a detailed analysis of employee benefits in Liechtenstein –
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen’s compensation insurance, maternity and paternity benefits, family benefits, unemployment, leaves and holidays, and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Liechtenstein
Reasons to Buy
- Make strategic decisions using in-depth information related to employee benefits in the country
- Assess employee benefits of the market, including state and compulsory benefits and private benefits
- Gain insights into the key employee benefit schemes offered by private employers in the country
- Gain insights into key organizations governing the employee benefits market, and their impact on companies
Table of Contents
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Frequently asked questions
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What are the key regulations guiding employee benefits market in Liechtenstein?
The key regulations guiding employee benefits market in Liechtenstein are Labor Law 1966, Sickness Insurance Act 1971, Maternity Allowance Act 1981, and Continued Remuneration Act 1994.
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What are the key state and compulsory benefits in the Liechtenstein employee benefits market?
The key state and compulsory benefits in the Liechtenstein employee benefits market are retirement benefits, death in service, long-term disability benefits, short-term sickness benefits, medical benefits, workers’ compensation insurance, maternity and paternity benefits, and other benefits.
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Who regulates the medical (health) benefits system in Liechtenstein?
The medical (health) benefits system in Liechtenstein is regulated by the Sickness Insurance Act (Gesetzüber die Krankenversicherung) and the School Dental Care Act (Gesetzüber die Schulzahnpflege).
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What are the key private benefits in the Liechtenstein employee benefits market?
The key private benefits in the Liechtenstein employee benefits market are retirement benefits, death benefits, medical benefits, disability benefits, and accidental death and dismemberment benefits.
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