According to the ministry, more than 414,000 employees who are eligible for the support and already submitted their application for support on time as prescribed (by the end of December 20, 2021) have not received the support.

About VND1.155 trillion is needed for the eligible workers.

Three groups of reasons are pointed out for the delay in the funding disbursement. Firstly, the workers declared incorrect account number information, so authorities could not contact them.

Secondly, the workers have a complicated process of paying unemployment insurance premiums, and their identity is not accurate.

Thirdly, the workers have difficulties proving that they are eligible to get the support.

If the Standing Committee of the National Assembly agrees to extend the implementation period for eligible employees, the total unemployment insurance expenditure this year is expected to increase by VND26.74 trillion, thus the balance of the unemployment insurance fund by the end of 2022 is about VND56.599 trillion.

The continued implementation of support for workers who applied for support on time helps ensure the principle of contribution and benefit of insurance participants. Photo: Internet

The continued implementation of support for workers who applied for support on time helps ensure the principle of payment-benefit. Besides, it also upholds the sharing principle of unemployment insurance policy, creating relative fairness among employees who are eligible for support and strictly complied with the provisions of the support policy.

Extending the implementation period also creates a consensus and strengthens employees' confidence in the unemployment insurance policy, showing the benefits of participating in unemployment insurance to "support for workers in difficulty".

As a result, employees are more confident when participating in and abiding by the provisions of the law on unemployment insurance, according to the Ministry of Labour, Invalids and Social Affairs.

As of July 31, Vietnam Social Security reduced the contribution to the unemployment insurance fund for 346,806 enterprises, equivalent to nearly 12 million employees. The enterprises would save about VND9.1 trillion by the end of September this year thanks to the reduced contribution to the unemployment insurance fund.

Regarding the policy to support employees from the unemployment insurance fund, by the end of 2021, nearly 13 million employees received the support with a total payment of VND30.804 trillion./.