Voluntary social insurance attracts little interest Thuy Dung HANOI – The number of voluntary social insurance buyers has remained woefully low though numerous measures have been taken by authorities to encourage people, especially self-employed and workers without an employment contract, to voluntarily get social insurance. Most of them are people who have had participated in compulsory social insurance while self-employed laborers account for a small fraction. At a conference on voluntary social insurance last week, Tran Hai Nam, deputy head of the Department of Social Insurance at the Ministry of Labor, Invalids and Social Affairs, said the 2014 Law on Social Insurance, which went into force in 2016, contains favorable provisions for the voluntary socially insured. The minimum social insurance payment is down from 22% of the monthly base salary of VND1.21 million to 22% of the rural poverty line of VND700,000 per month. This means people can pay at least VND154,000 … [Read more...] about Voluntary social insurance attracts little interest
Social insurance
Foreign employees’ social insurance concerns addressed at VBF
This was the response of Le Quan, Deputy Minister of Labour, Invalids and Social Affairs (MoLISA), at Vietnam Business Forum (VBF) 2017 to concerns expressed by a representative of the Korea Chamber of Commerce in Vietnam (Kocham) about the consequences of the mandatory social insurance for foreign labourers coming into effect on January 1, 2018.According to Ryu Hang Ha, chairman of Kocham, foreign invested enterprises are concerned over potentially soaring costs and wish to clarify what benefits will be available upon the occurrence of diseases, industrial disasters or the death of foreigners and whether workers returning to their home countries after paying social insurance in Vietnam will be eligible for the benefits.Clearing up some of these questions would go a long way to putting foreign workers’ minds at rest.“These concerns need clear-cut answers so that foreigners can be assured when paying social insurance in Vietnam,” said Ha.Quan added that from now to … [Read more...] about Foreign employees’ social insurance concerns addressed at VBF
Labor ministry mulls shorter social insurance payment period
Labor ministry mulls shorter social insurance payment periodThuy Dung HANOI – The Ministry of Labor, Invalids and Social Affairs will propose the Government reduce the mandatory period of laborers paying social insurance to lure new entrants, heard a seminar on reforming the national social insurance system in Hanoi City on November 29. Pham Truong Giang, head of the ministry’s Social Insurance Department, said an increasingly large number of people have demanded lump sum social insurance payouts as they cannot wait long years to benefit. It is estimated 500,000 to 600,000 people demand lump sums a year, while the number of employees enrolled anew into the social insurance system is around 700,000. Data of the Vietnam Social Insurance shows the agency had handled 600,000 claims for lump sum payouts in the year to October, a year-on-year rise of 18.5%. It would be tough to expand the coverage of social insurance, as the number of leavers is roughly equal to that of … [Read more...] about Labor ministry mulls shorter social insurance payment period
Social insurance debts to hit 2.6 million employees
Social insurance debts to hit 2.6 million employees Thuy Dung HANOI – Around 2.6 million employees may lose health and retirement insurance benefits as their employers have not paid social insurance premiums for them. The labor unions that represent their rights and interests have found it tough to take legal action against their employers. National Assembly (NA) deputies grilled the chief judge of the Supreme People’s Court, Nguyen Hoa Binh, at a session last Saturday. The long-unpaid social insurance has affected the legitimate rights and interests of workers. But almost no measures have been taken to deal with the problem, said deputy Phan Thi Binh Thuan of Binh Duong Province. Four laws allow labor unions to file lawsuits on behalf of employees whose legitimate rights and interests are violated. Therefore, many local unions have taken companies failing to pay social insurance premiums to court but their petitions have been returned for a variety of unclear … [Read more...] about Social insurance debts to hit 2.6 million employees
Social insurance debts amount to VND14.7 trillion
Social insurance debts amount to VND14.7 trillion HCMC – Companies across the country still owe about VND14.7 trillion (over US$646 million) in social insurance premiums, which may leave their employees on the verge of losing their health and retirement insurance benefits, Thanh Tra newspaper reports. Unpaid social, healthcare and unemployment insurance premiums accounted for 6.3% of all receivables by November, according to Vietnam Social Insurance. Of which, debts of less than six months made up a large proportion at VND7.3 trillion (over US$321 million), and enterprises failed to pay healthcare insurance premiums of more than VND1.5 trillion (around US$69 million). Overall, as many as 102,900 companies still failed to pay social insurance premiums totaling about VND14.7 trillion for around 2.6 million employees. Social insurance officials have filed about 8,800 lawsuits involving enterprises accused of owing roughly VND6 trillion. However, courts at all levels have settled … [Read more...] about Social insurance debts amount to VND14.7 trillion