Hanoi, Vietnam: Vietnam Social Security's guidance on organizing payment of social insurance allowances for July 2024

Vietnam Social Security's guidance on organizing payment of social insurance allowances for July 2024

To ensure that beneficiaries of pension, social insurance, and monthly allowance receive the benefits stipulated in Decree 75/2024/ND-CP as soon as possible after the decree takes effect, Vietnam Social Security provides guidance on the organization of social insurance benefit payments for July 2024 as follows:

(1) Regarding the disbursement time

Organize the disbursement of pensions, social insurance benefits, and monthly allowances for July 2024 according to the new payment levels stipulated in Decree 75/2024/ND-CP. Specifically: Make payments to beneficiaries via personal accounts simultaneously with cash payments at payment points starting from July 1, 2024.

(2) Organization of implementation

* Social Insurance agencies of province and centrally-managed cities:

• Based on the capital allocation plans of Vietnam Social Security, transfer the funds to the postal agencies fully and promptly to disburse to the beneficiaries.

• Intensify inspection and supervision of the disbursement process to beneficiaries, coordinate to resolve and address arising issues thoroughly, and promptly reflect any difficulties during the implementation process.

• Proactively disseminate and inform about the rights under the new payment levels, reflecting the special attention of the Party and the State to the lives of retirees; ensure reasonable and harmonious sharing between pensioners and social insurance contributors, between the state sector and the non-state sector, and between different generations participating in and benefiting from the policies. Organize the preparation of funding sources, information technology infrastructure, and human resources to make timely and full payments to beneficiaries as soon as Decree 75/2024/ND-CP takes effect.

* Vietnam Post directs its subordinate units:

• Concentrate manpower for disbursement, ensure the smooth operation of information technology systems serving disbursement; ensure timely and full payment of beneficiaries' entitlements from July 1, 2024 (including cash recipients and those receiving via personal accounts).

• Inform beneficiaries about their rights under the new payment levels and promptly notify any changes in the disbursement schedule (if any) for the July 2024 disbursement period to pensioners, social insurance beneficiaries, and monthly allowance recipients.

More details can be found in Official Dispatch 2128/BHXH-TCKT dated July 1, 2024.

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