The dispatch said that recently, a number of businesses have gone bankrupt or undergone bankruptcy procedures but they have yet to finish the payment of social insurance for the social insurance agency as per regulations.

It has affected the legitimate rights of employees to enjoy social insurance benefits, the dispatch said.

Due to many difficulties, employees at the businesses want to enjoy social insurance benefits and they hope to continue voluntarily paying social insurance contributions to be eligible for benefits as per regulations, the dispatch said.

Therefore, the social insurance agency submitted some solutions to promptly settle the interests of employees to ensure the stability of the security and order in the locality, the dispatch said.

Illustrative photo (internet)

Regarding the retirement policy, it is allowed to pay the monthly pension for employees, who are eligible for pension age and have paid social insurance premiums for at least 20 years. The employees will receive the pension according to the provisions at the time of eligibility for pension enjoyment.

Employees, who are eligible for pension age, have a total period of payment of social insurance premiums of less than 20 years (the actual time of paying social insurance premiums is at least 10 years) and wish to continue voluntarily paying social insurance contributions for the following years one time so that they can receive a monthly pension as per regulations. The time to receive a monthly pension will comply with the provisions of Clause 2, Article 5 of Circular No. 01/2016/TT-BLDTBXH, dated February 18, 2016 of the Ministry of Labour, Invalids and Social Affairs.

Regarding the one-time social insurance policy, the social insurance agency also suggested settling for beneficiaries according to the provisions of Clause 1, Article 60 under the Law on Social Insurance 2014.

The employees will receive one-time social insurance benefits based on the real-time payment of social insurance premiums.

Regarding the survivorship policy, the social insurance agency suggested settling the funeral allowance for employees, whose real-time of paying compulsory social insurance is at least 12 months or the total time of paying both compulsory social insurance and voluntary social insurance premiums is at least 60 months. The employees’ relatives will receive funeral allowances according to regulations.

Illustrative photo (internet)

Besides, the social insurance agency also submitted to settle monthly survivorship allowance for employees’ relatives if the employees have at least 15 years of payment of compulsory social insurance and the employees’ relatives do not choose to receive a lump-sum survivorship allowance.

For employees, who have paid compulsory social insurance for less than 15 years, the employees’ relatives will receive a lump-sum survivorship allowance.

Regarding the sickness and maternity policy, employees, who already paid social insurance to the sickness and maternity fund for at least six months as prescribed in Clause 2, Article 31 of the Law on Social Insurance 2014 or at least three months as prescribed in Clause 3, Article 31 of the Law on Social Insurance in 2014, will receive maternity allowance for childbirth and child adoption according to regulations.