Since early this year, 4,568 laborers have registered for unemployment insurance (UI) in Hai Duong, up 38.5% over the same period in 2012. Of which, 3,419 people received decision on monthly UI, 655 people received decision on lump sum UI with the total payment of VND25,893 million, double the same period in 2012. Besides, 4,412 laborers throughout the province were counseled, recommended for jobs and apprentice allowances for 34 laborers were resolved. It was caused by increasing numbers of the unemployed and laborers aware of UI policies. The soaring payment was partly due to an increasing number of people entitled to insurance, and on the other hand, because many unemployed laborers were entitled to the six-month rate. VIET CUONG … [Read more...] about Unemployment insurance payment soars
Lump sum payment
NA approves lump sum social insurance payment
NA approves lump sum social insurance payment Minh Duc By Minh Duc - The Saigon Times Daily HANOI – National Assembly (NA) deputies on June 22 passed a resolution giving workers the option of a one-time lump-sum social insurance payment one year after their unemployment. Some 404 deputies, or 81.78%, approved the new measure which will come into force on January 1, 2016. Employees can choose to continue their insurance policy until their retirement so that they could receive monthly pensions as per the 2014 Law on Social Insurance. Workers who have paid insurance for less than 20 years can opt to get a lump-sum payment of about 150% of a month’s wage for each working year before 2014 and 200% of a month’s salary for each working year after 2014. The scheme is applicable to both compulsory and voluntary insurance buyers. Earlier, according to Article 60 in the revised law, which amended Article 55 of the 2006 Law on Social Insurance, the number of employees … [Read more...] about NA approves lump sum social insurance payment
Vietnamese legislature passes resolution to entitle workers to lump-sum social insurance payment
Most Vietnamese National Assembly (NA) deputies have voted for a resolution that modifies the law to give workers the option of a lump-sum social insurance payment one year after their employment ends, instead of having the fund suspended until their retirement. At a vote session held in Hanoi on Monday, 404, or nearly 82 percent, of the 419 NA deputies present voted "yes" for a resolution to amend Article 60 of the 2014 Law on Social Insurance to give laborers the said option. Specifically, most lawmakers agreed to the resolution on "implementing the policy to pay workers a lump-sum social insurance amount one year after their resignation," as stated in Item c, Clause 1, Article 55 of the 2006 Law on Insurance. This article had been amended by the Article 60 that faced strong responses from people, especially workers in several plants in Ho Chi Minh City and neighboring Binh Duong Province. Pursuant to the Article 60, the scope of employees eligible to receive a lump-sum … [Read more...] about Vietnamese legislature passes resolution to entitle workers to lump-sum social insurance payment
One winning ticket in Florida for Mega Millions jackpot
One ticket matching all six numbers was sold in Florida in the Mega Millions lottery jackpot of an estimated $450 million, the fourth largest in the game’s history, the lottery said after Friday’s drawing.The numbers drawn were 28, 30, 39, 59, 70 and 10.The identity of the ticket holder or holders was not announced by lottery officials. The Mega Millions drawing has a $281-million payout if the winner selects a lump-sum payment.Long odds have not halted the spread of “lottery fever”, with people lining up to buy the $2-tickets at retailers, said Jeff Lenard, spokesman for the National Association of Convenience Stores, whose members sell about 60 percent of the nation’s lottery tickets.“There’s definitely more traffic,” Lenard said.Americans spent $80.5 billion on lottery games last year, according to the North American Association of State and Provincial Lotteries.The odds of picking the right six numbers for the Mega Millions jackpot … [Read more...] about One winning ticket in Florida for Mega Millions jackpot
Out of synch
Land and property ownership rights continue to spark controversy and create confusion among both individuals and enterprises. More and more businesses are now renting houses or apartments as office space because of a shortage of business premises, paying top dollar for just a small area. “This makes it difficult for these enterprises to expand,” Dr Tran Quang Huy, a lecturer at the Hanoi Law University, told a recent seminar reviewing the Land Law that took place in late September. Having sufficient space for business is an important factor in implementing the right of economic entities regarding freedom of business, as recognised in the Constitution. “However, the need of businesses to be allocated land or be able to lease land is not met because land resources are limited, and businesses also must face a number of obstacles and cumbersome administrative procedures,” Dr Huy added. Overlaps in the country’s legal framework also create difficulties for … [Read more...] about Out of synch