Weekly newsletter

Survey: Non-wage Benefits Go to 88 pc of Employees at Hungarian Companies

Non-wage benefits go to 88 percent of the employees at Hungarian companies at present, according to a survey by the Hungarian Chamber of Commerce and Industry’s (MKIK) Economy and Business Research Institute (GVI).

The rate at companies employing 20-49 people stands at 74 percent, while it is 95 percent at companies employing more than 250.

About 41 percent of the survey respondents said they top up employees’ SZÉP voucher cards, which may be used for catering, accommodations and recreation, while 40 percent offer start-of-school support and 29 percent pay benefits in cash. More than 10 percent pay into healthcare and voluntary pension funds or offer staff canteen and gift vouchers. Less than 10 percent offer employees support to pay off student loans, or for accommodations, kindergarten, creches or life or health insurance.

Among big companies, 73 percent used SZÉP card top-ups and 66 percent offered commuting support and Erzsébet food vouchers. At SMEs, the most popular forms of non-wage benefits are commuting support and Erzsebet vouchers.

The representative survey was of 400 company managers. Three-fourths of the managers were at SMEs and the rest at big companies employing more than 250 people.

Hungary’s Parliament earlier approved legislation that will limit non-wage benefits on which employers enjoy tax preferences to SZÉP card top-ups from next year. However, daily Magyar Idők wrote on Wednesday it learnt the government could consider a partial rollback of that measure.

via MTI