Vietnam's Law on Social Insurance 2024, effective as of July 1, 2025

Vietnam's Law on Social Insurance 2024, effective as of July 1, 2025 

The principles of social insurance prescribed in Article 5 of the Law on Social Insurance 2024 are as follows: 

- Allowances of compulsory social insurance and voluntary social insurance shall be calculated based on the premiums and premium payment period of social insurance and the sharing among the policyholders according to the Law on Social Insurance 2024. 

- Compulsory social insurance premium rates shall be calculated based on salaries used for compulsory social insurance premium payments.  Voluntary social insurance premium rates shall be calculated based on the income used for voluntary social insurance premium payments selected by the policyholders. 

- Any person who simultaneously pays compulsory and voluntary social insurance premiums shall receive monthly allowances, pensions, and death allowances based on the payment period of compulsory and voluntary social insurance premiums. 

The payment period of social insurance premiums that have been used for the calculation of lump-sum social insurance allowances shall not be included in the period used for the calculation of social insurance benefits. 

- Social insurance funds shall be centrally, consistently, publicly, and transparently managed, used for proper purposes, and independently accounted according to component funds and policyholders subject to salary regulations prescribed by the State and decided by employers.  

- The implementation of social insurance shall be simple, easy, and convenient, ensuring the timeliness and adequate rights of policyholders and beneficiaries. 

- The mandatory payment period of social insurance premiums for determination of eligibility for monthly pensions and death allowances shall be calculated by year; one year of payment means 12 months of payment. When calculating the allowances for a payment period of social insurance with odd months, it shall be considered half a year for odd months from 1 to 6 months and a year for odd months from 7 to 11 months.

- The settlement of social insurance benefits shall be determined in compliance with the law on social insurance at the time of social insurance benefit enjoyment.

See more details in the Law on Social Insurance 2024, effective as of July 1, 2025. 

The Law on Social Insurance 2014, amended by the Law on Occupational Safety and Hygiene 2015; the Law on amendments to 37 Laws relevant to planning 2018; the Labor Code 2019 and Resolution No. 93/2015/QH13 on the implementation of lump-sum social insurance policy for workers shall be annulled from the effective date of the Law on Social Insurance 2024. 

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