Employee Benefits in Belgium
Given the heavy tax burden in Belgium, extra-legal benefits are quite common and popular. With extra-legal benefits, an employer can offer (extra-legal) advantages whereby his / her employees will be motivated and protected. Besides, some of these employee benefits are exempted from tax and social security charges, provided that certain conditions are met.
Belgian employees are entitled to a state pension provided that they have worked at least 30 years out of the last 45. But the amount of the pension is rather limited. According to the number of employees, and depending on their security and return expectations, an employer can offer a tailor-made pension plan (fixed premiums or defined benefit).
The most common form of employee benefits in Belgium is group insurance. Generally speaking, such an insurance guarantees pension capital, capital in case of death, incapacity to work and health insurance. Sometimes, these benefits are partly funded by employees.
All employees in Belgium must contribute to a health insurance fund (a mutuelle). Most medical costs are partly reimbursed by the health insurance fund. Employers can provide employees with an additional health insurance cover as employee benefit.
If you are looking for a pension plan or health insurance specialist, you can rely on this Belgian employee benefits expert.
August 1, 2018