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Liechtenstein (125) > Old-age, invalidity and survivors benefit (25)

Name: Act of 20 October 1987 on employee welfare protection provided by enterprises.
Country: Liechtenstein
Subject(s): Wages; Tripartite consultations; Social security (general standards); Old-age, invalidity and survivors benefit; Elimination of child labour, protection of children and young persons; Equality of opportunity and treatment; Banking, finance, insurance workers
Type of legislation: Law, Act
Adopted on: 1987-10-20
Entry into force:
Published on: Liechtensteinisches Landesgesetzblatt, 1988-05-06, No. 12, p. 1-17 (INFORM)
ISN: LIE-1987-L-6146
Link: https://www.ilo.org/dyn/natlex/natlex4.detail?p_isn=6146&p_lang=en
Bibliography: Liechtensteinisches Landesgesetzblatt, 1988-05-06, No. 12, p. 1-17 (INFORM)
Abstract/Citation: This Act requires, with certain exceptions, every employer who is liable to pay contributions under the Act on old-age and survivors, pensions and whose payroll is above a set level to provide for old-age, disability and survivors' pensions for his or her current employees (ss. 3 and 4). Such employers are to insure against the economic consequences of invalidity where the employee has reached 17 years of age, of death where the employee has reached that age and has a dependant wife or child, and of old-age where the employee has reached 24 years of age and has a non-fixed-term contract of employment. A contract which has extended beyond nine months or beyond the length of its original term is considered to be indefinite. The Act also permits self-employed persons to be insured (s. 5). Part II governs calculation of wage levels, contributions, minimum benefits, financing, and cashing-out of accrued amounts (s. 11-12). The normal retirement age is set at 65 years of age for men and 62 years of age for women (s. 8(1)). Part III governs organisation and implementation (including disclosure of information) and Part IV addresses supervision and applicable law. With the entry into force of this Act on 1 Jan. 1989, ss. 39(4) and 40 of s. 1173a of the general civil Code, as amended, are repealed.
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