Non-Wage Benefits Go To 88% Of Employees At Hungarian Companies

  • 12 Oct 2018 7:38 AM
  • Hungary Matters
Non-Wage Benefits Go To 88% Of Employees At Hungarian Companies
Non-wage benefits go to 88% 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%, while it is 95% at companies employing more than 250. About 41% of the survey respondents said they top up employees’ SZÉP voucher cards, which may be used for catering, accommodation and recreation, while 40% offer start-of-school support and 29% pay benefits in cash.

More than 10% pay into health care and voluntary pension funds or offer staff canteen and gift vouchers. Less than 10% offer employees support to pay off student loans, or for accommodations, kindergarten, crèches or life or health insurance.

Among big companies, 73% used SZÉP card top-ups and 66% offered commuting support and Erzsébet food vouchers. At SMEs, the most popular forms of non-wage benefits are commuting support and Erzsébet 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 nonwage benefits on which employers enjoy tax preferences to SZÉP card top-ups from next year. However, daily Magyar Idők said on Wednesday it learnt the government could consider a partial rollback of that measure.

Photo: MTI

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this twice-daily newsletter covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI. Click the title above for more info, and to subscribe.

Explore More Reports

  • Hungarian Space Tech Firm CEO Wins EY ʼEntrepreneur Of Yearʼ

    Hungarian Space Tech Firm CEO Wins EY ʼEntrepreneur Of Yearʼ

    • 13 Nov 2019 6:10 AM

    Gyula Horváth, founder and CEO of space tech firm C3S Elektronikai Fejlesztő Kft. has won the grand prize at the Hungarian round of the EY "Entrepreneur of the Year" awards, meaning that he will represent Hungary at the global version of the event in Monaco, according to a press release.

  • Hungary Aims For SME Friendly Environment

    Hungary Aims For SME Friendly Environment

    • 22 Oct 2019 8:05 AM

    The Hungarian government aims to create a regulatory and tax environment friendly for small and midsize entrepreneurships, Innovation and Technology Minister László Palkovics said, at the economic exhibition and conference Kárpát EXPOrt.