Principles of social insurance in Vietnam under the Law on Social Insurance 2024

Principles of social insurance in Vietnam under the Law on Social Insurance 2024 (Image from the internet)

Principles of social insurance in Vietnam under the Law on Social Insurance 2024

- The benefits of compulsory social insurance and voluntary social insurance are calculated based on the contribution levels and the time of participation in social insurance; there is sharing among participants according to the Law on Social Insurance 2024.

- The compulsory social insurance contribution is calculated based on the salary used as the basis for compulsory social insurance contributions. The voluntary social insurance contribution is calculated based on the income used as the basis for voluntary social insurance contributions chosen by the participants.

- Individuals with both periods of compulsory social insurance and voluntary social insurance contributions are entitled to monthly pension benefits, pension, and survivor benefits based on their periods of compulsory and voluntary social insurance contributions.

The periods of social insurance contributions already counted for a one-time social insurance payment shall not be counted towards the period used as a basis for calculating social insurance benefits.

- The social insurance fund is managed centrally, uniformly, publicly, and transparently; it is used for the right purpose and accounted for independently according to specific sub-funds, groups of subjects implementing wage policies prescribed by the State and wage policies decided by employers.

- The implementation of social insurance must be simple, easy, convenient, promptly, and fully ensure the rights of participants and beneficiaries of social insurance benefits.

- The minimum social insurance contribution period to determine the eligibility for pension and monthly survivor benefits is calculated by the year, with a year consisting of 12 full months. In cases where the contribution period includes odd months, 01 to 06 months shall be counted as half a year, and 07 to 11 months shall be counted as one year.

- The settlement of social insurance benefits is determined according to the provisions of the law on social insurance at the time the social insurance benefits are received.

(Article 5 Law on Social Insurance 2024)

Rights of social insurance participants and beneficiaries in Vietnam

(1) Participants in social insurance have the following rights:

- Receive social insurance benefits according to the Law on Social Insurance 2024;

- Be issued a social insurance book;

- Be provided with information on social insurance contributions by the social insurance agency monthly through electronic means; have social insurance contribution information confirmed by the social insurance agency upon request;

- Request employers and related agencies and organizations to fully fulfill their social insurance responsibilities according to the law;

- Be informed and educated about social insurance policies and laws;

- Voluntarily undergo medical assessment to determine the reduction in labor ability if they are preserving the social insurance contribution period and have the medical assessment fee paid when the medical assessment results meet the conditions for receiving social insurance benefits according to the Law on Social Insurance 2024;

- File complaints, denunciations, and lawsuits regarding social insurance according to the law.

(2) Beneficiaries of social insurance benefits have the following rights:

- Fully, promptly, and conveniently receive social insurance benefits;

- Receive health insurance when they are pensioners; on leave receiving monthly work-related injury allowance, occupational disease allowance; on maternity leave for 14 or more working days in a month; on sick leave for 14 or more working days in a month or on sick leave receiving sick allowance for illnesses requiring long-term treatment as stipulated by the Minister of Health; enjoying policies stipulated in Article 23 Law on Social Insurance 2024;

- Have the medical assessment fee paid in cases where they were not referred by the employer for a medical assessment to determine the reduction in labor ability but the medical assessment results meet the conditions for receiving social insurance benefits according to the Law on Social Insurance 2024;

- Authorize other individuals in writing to perform social insurance procedures. In cases of authorizing the receipt of pension, social insurance allowance, and other benefits under this Law, the authorization document is valid for up to 12 months from the date of authorization. The authorization document must be notarized according to the law on notarization;

- Individuals aged 80 or older, if requested, will receive pension and social insurance allowance payments at their residence in the territory of Vietnam by the social insurance agency or a service organization authorized by the social insurance agency;

- Be provided with information on social insurance benefits by the social insurance agency monthly through electronic means; have social insurance benefit information confirmed by the social insurance agency upon request;

- File complaints, denunciations, and lawsuits regarding social insurance according to the law;

- Decline social insurance benefits.

(Article 10 Law on Social Insurance 2024)

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