Vietnam: Management and use of social insurance, unemployment insurance and health insurance funds

According to Clause 4 Article 2 of Decree No. 89/2020/ND-CP of Vietnam’s Government, the management and use of social insurance, unemployment insurance and health insurance funds of the Ministry of Labor, Invalids and Social Affairs are prescribed as follows:

- Manage and use social insurance funds, including: pension funds and death benefit funds; occupational accident and occupational disease funds; funds for illness and maternity; unemployment insurance funds; health insurance funds in a consistent, publicly open and transparent way in compliance with the law; execute book-keeping process of social insurance, unemployment insurance and health insurance funds.

- Annually, develop and implement an investment plan for the social insurance, unemployment insurance, and health insurance funds after approval by the Viet Nam Social Security Management Council (hereinafter referred to as “Management Council”); manage investment risks for the social insurance, unemployment insurance, and health insurance funds in accordance with regulations.

Besides, Clause 5 Article 2 of Decree No. 89/2020/ND-CP stipulates that the Management Council shall implement other duties regarding social insurance, unemployment insurance, and health insurance as prescribed by law, including:

- Provide specialized training for Social Security Departments of the Ministry of National Defense and the Ministry of Public Security; work in collaboration with them to supervise the implementation of social and health insurance within the Ministry of National Defense and the Ministry of Public Security.

- Provide training in social, health and unemployment insurance.

- Set and carry out plans to reform the administrative system of Viet Nam Social Security based on the targets, requirements, program and plan to carry out administrative reform of the Government and commands from the Prime Minister; apply a single-window system to provisions of social insurance, unemployment insurance and health insurance benefits.

- Carry out e-transactions in social, unemployment and health insurance according to the law.

- Organize the implementation of assistance and consultation on social insurance, unemployment insurance, and health insurance policies.

- Settle complaints and reports regarding social insurance, unemployment insurance, and health insurance in accordance with regulations; initiate civil lawsuits to request the court to protect public interests and state interests in the field of social insurance, unemployment insurance, and health insurance. When detecting criminal acts in the field of social insurance, unemployment insurance, and health insurance as stipulated by the Criminal Code, the social insurance agency shall submit a recommendation letter along with relevant evidence and documents to the competent authority to initiate legal proceedings for examination and prosecution in accordance with regulations.

More details can be found in Decree No. 89/2020/ND-CP of Vietnam’s Government, which was issued on August 04, 2020.

Le Vy

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE