Market Research Report
Employee Benefits in Lithuania 2019
|Published by||GlobalData||Product code||859664|
|Published||Content info||48 Pages
Delivery time: 1-2 business days
|Employee Benefits in Lithuania 2019|
|Published: May 29, 2019||Content info: 48 Pages||
Lithuania inherited a Soviet-style pension system with characteristics such as generous early retirement provisions, privileges for certain occupational groups, and a weak link between contributions and benefits. The economic crisis in the 1990s forced the Lithuanian government to undertake pension system reforms in 1995. The reforms were intended to make changes in the State Social Pension Insurance (first pillar), enhance the stability of the system by eliminating the generous early retirement provisions, and create a strong link between contributions and benefits. In 2004, the second and third pillars - funded schemes and supplementary pension provisions - were introduced. In principle, all employees in Lithuania are covered by the social security system, but the actual coverage rate is only 83% of the workforce. To receive a full pension, individuals must satisfy 30 years of insured status and the minimum qualifying period is 15 years. Individuals who are unable to reach the minimum qualifying period are eligible for a social assistance pension, which is equal to 90% of the basic pension.
The report provides in-depth industry analysis, information and insights of the employee benefits in Lithuania, including: overview of the state and compulsory benefits in Lithuania, detailed information about the private benefits in Lithuania, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Lithuania.
This report provides a detailed analysis of employee benefits in Lithuania -
Table of contents
1 EXECUTIVE SUMMARY
3 COUNTRY STATISTICS
4 OVERVIEW OF EMPLOYEE BENEFITS IN LITHUANIA
6 STATE AND COMPULSORY BENEFITS
7 PRIVATE BENEFITS