Illustrative image (VSS)

Dinh Thi Thu Hien, Deputy Director of Social Insurance Implementation (VSS) said that during the spreading Covid-19 epidemic time, number of employees receiving one time social insurance increased. However, over recent month, this issue has tended to be reduced.

Analyzing the reason, Hien supposed: “the epidemic situation is gradually controlled. Many unemployed people returns to work or has new jobs and participates social insurance. Many employees who used to have difficulty gain income and have no intension of receiving one-time social insurance. At the same time, communication helps employees conceive the disavantages of receiving one time social insurance.

Illustrative image (VSS)

According to Hien, withdrawing one time social insurance, employees’ contribution duration  shall not be reserved. Comparing benefits of those who withdraw and do not withdraw one-time social insurance, employees who reach retirement age have more benefits than one-time withdrawal. Beside salary, the State adjusts pension according to certain socio-economic condition. For the past 2 years, despite of our country’s difficult economy situation, pension has increased 7.4% since Jan 1^st 2022. This shows that the State’s policy is interested in pensioners’ income.

Notably, in term of health insurance’ benefits, pensioners are granted free health insurance card from the time of retirement enjoyment until death with benefits as high as 95% of medical examination and treatment costs- higher than household participation (80%) . During old age, the risk of illness is greater, most of the medical examination and treatment cost which is paid by health insurance shall reduce economic pressure on the family.