Ho Chi Minh City Considers Special Support for Voluntary Social Insurance Participants

08/01/2025 09:30 AM


The Ho Chi Minh City Social Insurance Agency is researching and will propose a policy to support residents participating in voluntary social insurance (VSI) in the city.

Under current regulations, VSI participants receive government subsidies for their contributions. The support level is determined as a percentage of the monthly VSI contribution, based on the rural poverty threshold. Specifically, the support rates are as follows:

  • 30% for VSI participants from poor households,
  • 25% for VSI participants from near-poor households,
  • 10% for other participants.

In addition to this state support, many localities have introduced additional subsidies from local budgets to encourage VSI participation. However, Ho Chi Minh City has not yet implemented such a policy.

Ms. Phan Thi Mai, Head of Revenue, Social Insurance Book, and Card Management at Ho Chi Minh City Social Insurance, stated that the agency is working closely with the Department of Labor, Invalids, and Social Affairs to advise the City People's Council on developing policies to encourage residents to participate in VSI.

However, these policies have not yet been approved by the city due to the lack of clear legal provisions in the existing 2014 Social Insurance Law.

With the 2024 Social Insurance Law now providing explicit regulations allowing financially capable localities to offer additional support, the Ho Chi Minh City Social Insurance Agency will restart its proposals to implement support policies for VSI participants. These policies are expected to be in place by July 1, 2024, when the new law takes effect.

“The support level may not be as high as in other provinces, but it should be comparable to ensure that disadvantaged residents can afford VSI participation,” Ms. Mai emphasized.

Mr. Lo Quan Hiep, Director of Ho Chi Minh City Social Insurance, noted that with the new legal framework in place, the agency will promptly advise the Department of Labor, Invalids, and Social Affairs to take the lead in proposing policy implementation after the Lunar New Year.

As of the end of 2024, Ho Chi Minh City recorded 69,241 VSI participants, achieving 103.45% of the annual target and marking a 25.83% increase from 2023. However, this figure remains relatively small compared to the city’s total 2,780,586 social insurance participants.

PV