I want to switch to receiving social insurance benefits by ATM account, what is the transfer procedure?
According to the Law on Social Insurance No.58/2014/QH13 passed by the National Assembly on November 20, 2014, beneficiaries of the monthly social insurance benefits can transfer to personal accounts and vice versa, or change personal accounts or places of reception.
In order to do this procedure, beneficiaries must make one copy of the notice of change of their information (Form No.18 – CBH) and submit it to payment representatives or district social insurance agencies, specifying information on the personal account numbers (or ATM cards), banks of opened accounts, or reception places of new monthly social insurance benefits. Those who are receiving monthly pensions or social insurance allowances that move to new residential areas with regional allowance must enclose one copy of the notice of change of their information and present their original house registration book for comparison and confirmation.
If there is fee for ATM card issuance, beneficiaries submit the receipt to provincial or district post offices for payment according to regulations. District social insurance agencies will receive records from beneficiaries or payment representatives, then fill in Form No.9c-CBH to change money reception methods (from personal account to cash or vice versa) or change reception places of monthly social insurance benefits.
Provincial social insurance agencies carry out the change of money reception methods or places of receiving monthly social insurance benefits for beneficiaries on the payment list. If beneficiaries submit their proposal before the 20th day of the month, social insurance agencies shall settle the payment the following month. If beneficiaries submit their proposal after the 20th day of the month, social insurance agencies shall settle the payment in the month after the following month.
Provincial or district post offices must pay cash immediately to beneficiaries after receiving the receipts of ATM card issuance fees. Beneficiaries receive ATM card issuance fees at the provincial or district post offices on the day.
Beneficiaries receive monthly pensions and social insurance allowances at their new addresses the following month if submitting applications before the 20th of the month and in the month after the following month if submitting applications after the 20th of the month./.
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