Slovakia Employee Benefits Report | Axco Information

Key Highlights

Get access to Axco’s online product for a comprehensive understanding of employee benefits in Slovakia

Details of the state and compulsory benefits
Insight into typical market practice
Examines changes to the costs and benefits of social security and mandatory benefits requirements
Demographic and economic information including projections
Mandatory pension provision, normal and parental leave and other state benefits
Details of applicable taxation
Extensive geopolitical and operational risk analysis

Report Overview

Comprehensive employee benefits information for Slovakia. Details mandatory benefits and plans as well as typical market practice. Includes data on pensions and retirement benefits, employee leave and termination indemnities.

Axco's employee benefits report for Slovakia provides expert analysis of the Slovakian benefits landscape, detailing state and compulsory benefits and local market practice across necessary to know when employing staff in Slovakia or thinking of entering the market.

The comprehensive report is produced by a dedicated research team with years of experience in international employee benefits. The report outlines all key benefits in Slovakia, including insight into changes to the costs and benefits of social security and mandatory benefits requirements, as well as typical employer practice. Information and necessary details on new legislative mandates are regularly updated to ensure you remain compliant.

Suitable for international employee benefits consultants, brokers or corporates looking at establishing business in Slovakia, the report outlines the employment benefits requirements for your employees in Slovakia. Coverage extends to retirement benefits, death in service benefits, long-term disability, medical benefits, workers compensation, personal accident insurance, termination indemnities, maternity benefits & maternity/paternity benefits and other employee and state benefits.

Axco analysts also report on the economy of Slovakia, the local political situation, and climate, operational, and security risks.

Slovakia Report Extract

Below is a very brief extract of information from the Slovakian Employee Benefits Report; more updated information may be available in the latest published report.

Retirement

Benefit Provider

State & Compulsory Benefits

Retirement benefits are provided as follows:

pillar I - pension insurance, administered by the Social Insurance Agency (SIA)

pillar II - voluntary pension savings, administered by a pension fund management company (dochodkova spravcovska spolocnost - DSS) as chosen by the employee.

In addition, employers are mandated to provide supplementary retirement benefits under pillar III in respect of employees in prescribed arduous occupations (categories 3 and 4); benefits are provided through a pension plan, administered by a supplementary pension insurance company (doplnkova dochodkova spolocnost - DDS). The minimum employer contribution in respect of prescribed arduous occupational categories remains equal to 2% of the employee's taxable income (in 2023).

Employers are required to provide termination indemnities when the employee leaves service due to retirement (see Termination Indemnities section for detail).

Typical Employer Practice

Axco reports on the percentage of multinational and local leading employers (and the percentage of smaller local employers) that provide supplementary retirement benefits under pillar III; benefits are provided through a pension plan, administered by a supplementary pension insurance company (DDS).

The report contains more information on retirement benefits in Poland including Benefit Provider; Type of Plan; Eligibility; Retirement Age; Pensionable Salary; Vesting and more

Termination Indemnities

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