Hanoi-Vietnam: Temporary suspension of making payments to retirement and survivorship funds for enterprises affected by Covid-19

Nguyen Trinh

12:11, 10/07/2024

The Vietnam Ministry of Labor, Invalids and Social Affairs has just issued Official Dispatch 797/LDTBXH-BHXH guiding the temporary suspension of payment of social insurance premiums to the retirement and survivorship funds for enterprises facing difficulties due to the Covid-19 pandemic.

During the period of the epidemic, the following provisions shall apply until the Prime Minister of Vietnam issues a decision declaring the end of the epidemic:

- Enterprises facing difficulties due to the COVID-19 epidemic, if eligible, shall temporarily suspend from making payments to the retirement and survivorship funds for a maximum of 12 months as stipulated in Clause 1, Article 88 of the Law on Social Insurance, Article 16 of Decree 115/2015/ND-CP and Article 28 of Circular 59/2015/TT-BLĐTBXH;

- Local Social Insurance agencies shall enhance the dissemination of legal regulations regarding cases, conditions, procedures, and applications for the temporary suspension of making payments to the retirement and survivorship funds to all enterprises in the area;

- Monthly, Vietnam Social Security shall compile and submit reports on the results of the temporary suspension of making payments to the retirement and survivorship funds for enterprises facing difficulties due to the COVID-19 epidemic to the Vietnam Ministry of Labor, Invalids and Social Affairs.

Details can be found in Official Dispatch 797/LD-TBXH-BHXH issued on March 9, 2020.

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