Boston, MA -- (SBWIRE) -- 10/17/2014 -- Luxembourg has a comprehensive social security system. It is based on principles of solidarity that guarantee generous pension benefits and widespread access to extensive health and long-term care services. A uniform social security status was introduced for all private sector employees in 2009, which led to structural changes in the social security system, the establishment of equal rights for all employees and the harmonization of contributions and benefits under the social security system. The flexible pension system which rewards deferred retirement, motivates employees to work longer while the well-developed care systems and labor market policies encourage the recruitment of older workers. The increase in the aging workforce is a major concern for the country as it may adversely affect the sustainability of the welfare system and the maintenance of the pension system. Therefore, continuous and sustainable economic and employment growth is necessary for the viable development of the social security system.

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Report Highlights:

- Luxembourg has a comprehensive social security system. It is based on principles of solidarity that guarantee generous pension benefits and widespread access to extensive health and long-term care services

- Retirement, death, disability, sickness, maternity and unemployment benefits are some benefits that form a part of the state and compulsory benefits granted to the people in Luxembourg

- Mobile phones, car and fuel allowance, creche facilities for the children of employees, personalized membership cards, employee stock option plans and luncheon vouchers are some of the private benefits offered by employers

- In Luxembourg, it is the responsibility of the employer to perform all the formalities required for the enrolment of employees into the social security schemes

Report Scope

This report provides a detailed analysis of employee benefits in Luxembourg:

- 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 benefits, long-term disability benefits, short-term sickness benefits, medical benefits, workmen's compensation, maternity and paternity benefits, family benefits, minimum resources, unemployment and private benefits

- It highlights the economic and regulatory situations relating to employee benefits in Luxembourg

Reasons to Get this Report:

- Make strategic decisions using in-depth information related to Luxembourg employee benefits

- Assess the Luxembourg employee benefits market, including state and compulsory benefits and private benefits

- Gain insights into the key employee benefit schemes offered by employers in Luxembourg

- Gain insights into key regulations governing Luxembourg employee benefits, and their impact on companies

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