Official Social Insurance Law 2024 Enacted?

Official Law on Social Insurance 2024?

On June 29, 2024, the National Assembly passed the Law on Social Insurance 2024, which stipulates the following issues:

- The rights and responsibilities of agencies, organizations, and individuals concerning social insurance and the organization of social insurance implementation- Social retirement benefits- Registration for participation and management of the collection, payment of social insurance- Policies on compulsory social insurance, voluntary social insurance; social insurance fund- Supplemental retirement insurance- Complaints, denunciations, and handling of violations related to social insurance- State management of social insurance

The Law on Social Insurance 2024 takes effect from July 1, 2025, replacing the Law on Social Insurance 2014.

Article 4 of the Law on Social Insurance 2024 stipulates the types of social insurance benefits as follows:

[1] Social retirement benefits include the following policies:

- Monthly social retirement allowances- Funeral expense support- Health insurance covered by the state budget

[2] Compulsory social insurance includes the following policies:

- Sickness- Maternity- Retirement- Survivorship- Occupational accident and disease insurance as stipulated by the Law on Occupational Safety and Health 2015

[3] Voluntary social insurance includes the following policies:

- Maternity allowance- Retirement- Survivorship- Occupational accident insurance as stipulated by the Law on Occupational Safety and Health 2015

[4] Unemployment insurance as stipulated by the Law on Employment 2013

[5] Supplemental retirement insurance.

Official Law on Social Insurance 2024? (Image from the Internet)

Subjects participating in compulsory social insurance under the Law on Social Insurance 2024?

According to Article 2 of the Law on Social Insurance 2024, the subjects participating in compulsory and voluntary social insurance include:

- Persons working under indefinite-term labor contracts, definite-term labor contracts with a term of at least 01 month, including cases where the employee and the employer agree under another name but with the content reflecting paid work, wages, and the management, direction, and supervision of one party- Officials and public employees;- Workers and public defense employees, police workers, and individuals engaged in other tasks within cryptographic organizations;- Officers, professional soldiers of the People's Army; officers, professional and technical non-commissioned officers of the People's Public Security; people engaged in cryptographic work receiving salaries like military personnel;- Non-commissioned officers and soldiers of the People's Army; non-commissioned officers and conscripted soldiers of the People's Public Security; military, police, cryptographic students receiving living allowances;- Regular militia;- Workers going abroad under contracts stipulated by the Law on Vietnamese Workers Working Abroad under Contracts, except for cases specified by international treaties to which the Socialist Republic of Vietnam is a member having different provisions;- Spouses of individuals not receiving salaries from the state budget assigned to go on term assignments along with members of representative bodies of the Socialist Republic of Vietnam abroad, receiving living allowance policies;- Business managers, controllers, state capital representatives, representatives of enterprise capital according to the law; members of the Board of Directors, General Directors, Directors, members of the Supervisory Board or supervisors and other elected management positions of cooperatives, cooperative unions receiving wages- Non-full-time employees at commune, village, neighborhood levels- Subjects working under part-time labor contracts, whose monthly wages are at least equal to or higher than the lowest wage base for compulsory social insurance contributions- Household business owners of households with business registration participating according to the regulations of the Government of Vietnam- Business managers, controllers, representatives of state capital, representatives of enterprise capital according to the law- Members of the Board of Directors, General Directors, Directors, members of the Supervisory Board or controllers, and other elected management positions of cooperatives, cooperative unions not receiving wages.

Additionally, foreign employees working in Vietnam are also subject to compulsory social insurance if they work under definite term labor contracts with a term of at least 12 months with employers in Vietnam, except in the following cases:

- Internal transfer within the enterprise as stipulated by the law on foreign workers working in Vietnam- At the time of signing the labor contract, they have reached the retirement age as stipulated- International treaties to which the Socialist Republic of Vietnam is a member having different provisions

What acts are prohibited in social insurance?

According to Article 9 of the Law on Social Insurance 2024, the following acts are prohibited:

- Late payment or evasion of compulsory social insurance, unemployment insurance- Misappropriation of social insurance, unemployment insurance benefits- Hindering, causing difficulties, or damaging the lawful rights and interests of individuals participating in and benefiting from social insurance, unemployment insurance- Fraudulent and falsified documents in the implementation of social insurance, unemployment insurance- Illegal use of the social insurance fund, unemployment insurance fund- Illegal access, exploitation, provision of social insurance, unemployment insurance database- False registration, reporting; providing inaccurate information about social insurance, unemployment insurance- Collusion, conniving, covering up, assisting agencies, organizations, individuals committing violations of the law on social insurance, unemployment insurance- Pledging, buying, selling, mortgaging, pawning social security books in any form- Other acts as stipulated by law