Attending the meeting were Vice Chairpersons and members of the VSS Board of Commissioners along with staff assisting the board members representing various ministries and sectors.

Representatives from the VSS present included the Director-General, Deputy Permanent Vice Chairman of the VSS Board of Commissioners - Nguyen The Manh, Deputy Directors-General, and leaders from units under the VSS.

Chair Commissioner of the VSS Board of Commissioners and Minister of Finance Ho Duc Phoc chaired and directed the meeting

In his opening remarks, Ho Duc Phoc stated that the VSS Board of Commissioners would listen to reports from the VSS on the implementation of policies on social, health, and unemployment insurance in 2023. They would also review financial settlements, future investment plans for the social insurance fund, and other related matters. The Board of Commissioner Office was tasked with presenting reports and summarizing proposals, seeking opinions from board members, and making decisions according to its functions, tasks, and authority.

During the meeting, the board members were briefed on the status of implementing social insurance and health insurance policies, the financial settlement report for 2022, investment outcomes for 2023, and the investment plan for 2024 from the fund. They also participated in discussing the draft of the revised Social Insurance Law, the budget estimates for 2024, and the financial plan for 2024-2026. Suggestions were made for comprehensive reviews, additional staffing considerations to enhance expertise, fulfill assigned tasks, address limitations, and elevate the quality of operations at the The Board of Commissioner Office.

Addressing the meeting, Director-General of the VSS - Nguyen The Manh, stated that the VSS had submitted reports to the Board of Commissioners seeking their opinions on various VSS-related matters. He urged the board members to provide input for effective implementation and achievement of set objectives in 2024 and beyond. Specifically, resolving the issue of excessive health insurance payments exceeding the total quota per Decree 146, now adjusted per Decree No. 75/2023/ND-CP recently issued by the government.

VSS’ Director-General, Permanent Deputy Chair Commissioner of the VSS Board of Commissioners, Nguyen The Manh, addressed the meeting

During the session, full-time Deputy Chair Commissioner of the VSS Board of Commissioners, Nguyen Van Cuong, presented the Investment Plan for 2024, stating that the investment plan for government bond forms should not fall below 80%. This includes establishing accounts for revenue and expenditure at commercial banks according to the Board’s resolution. However, the proposal for the Social Insurance Fund's investment plan for social and health insurance is yet to be presented by the VSS, calling for specific solutions in this investment category.

Full-time Deputy Chair Commissioner of the VSS Board of Commissioners, Nguyen Van Cuong presented a report at the meeting

At the meeting, the board members expressed opinions and evaluated the performance results of the VSS, also providing input on their reports and proposals. Key issues raised by the board members focused on suggesting amendments to the Social Insurance Law, requiring the Board of Commissioner Office to collaborate with ministries and departments for law revision and proactive issuance of authorized documents. They also urged the VSS to report to government bodies and suggest solutions to address labor rights in bankrupt or absconding enterprises, exceeding health insurance payment limits, and limiting the one-time withdrawal of social insurance funds.

Chair Commissioner of the VSS Board of Commissioners and Minister of Finance Ho Duc Phoc concluded the meeting

Concluding the session, Minister of Finance and Chairman of the VSS Board of Commissioners, Ho Duc Phoc, assessed that the current amendment to the Social Insurance Law presents an opportunity to enhance the appeal of the social insurance policy. Regarding future Social Insurance Fund investments, Ho Duc Phoc emphasized the need for Vietnam Social Security to comply with the VSS Board of Commissioners regulations and resolutions. He highlighted the importance of strict coordination between the VSS, the Ministry of Health, and relevant units to review health insurance costs exceeding limits and ensure accurate reporting to the Prime Minister's approval. Additionally, in managing contracts and transactions through service organizations, the VSS must review and align regulations with legal provisions.

Ho Duc Phoc further urged the Board of Commissioner Office to integrate and refine opinions from the board members into resolutions and regulations, enhancing expertise, research, and innovative synthesis of reports to support the Board of Commissioner Office and its members in fulfilling their duties and authorities more effectively and with higher quality./.