Social insurance sector pays over VND47.2 trillion from social insurance and health insurance funds for labourers and businesses

31/10/2022 11:55 PM


The Vietnam social insurance industry has strived to overcome difficulties amid the context of COVID-19 to fulfil set targets and tasks and closely followed the real situation to implement flexible measures in a timely manner to support employers and employees, contributing to helping enterprises to restore production and stabilising workers; lives, as well as ensure benefits of social insurance, health insurance and unemployment insurance participants.

Specifically, as an agency organising and implementing social insurance, health insurance and unemployment insurance policies, Vietnam Social Security (VSS) has actively and proactively proposed and coordinated with relevant ministries and agencies to submit to the National Assembly, Government and the Prime Minister for issuance of policies supporting employers and employees affected by the COVID-19 pandemic.

These policies include Resolution No 42/NQ-CP, dated April 9, 2020 and Resolution No154/NQ-CP, dated October 19, 2020 of the Government on measures to provide assistance for those people who faced difficulties caused by the pandemic; the Government’s Resolution No 68/NQ-CP on policies supporting employers and employees facing difficulties caused by the pandemic; the Government’s Resolution No 116/NQ-CP to provide support from theunemployment insurance fund for employers and employees affected by the COVID-19 pandemic; and Resolution No 24/2022/UBTVQH15 on continuing to provide financial support for employees.


VSS Director General Nguyen The Manh examines the implementation of policies to support employees from the unemployment insurance fund at a business

The implementation of these support packages amid the complicated development of the COVID-19 pandemic created huge pressure on the amount of work and progress to implement tasks for the Vietnam’s social insurance sector (including preparing resources, building implementation processes, upgrading professional software, and increasing information dissemination to help employers and employees acknowledge information and ways to get support from the packages). 
In face of difficulties and challenges, the VSS Director General Nguyen The Manh promptly directed the whole social insurance sector to prepare enough resources, promote the use of information and technology and simplify procedures to effectively implement these support packages as planned for employers and employees. The sector also focused on increasing information dissemination to help employers and employees get access to the support packagesfully as soon as possible.

VSS implemented flexible measures to support employers and employees affected by the COVID-19 pandemic 

As result, by the end of September 2022, the Vietnam’s social insurance sector effectively implemented the support packages and reduced social insurance and unemployment insurance payments from the social insurance and unemployment insurance funds for employers and employees affected by the COVID-19 pandemic with total funds of over VND47.2 trillion, accounting for 54.3 per cent of the total fund of the Government support packages (VND87 trillion) as follows:
- The sector suspended payments into the retirement and death gratuity funds of social insurance following Resolutions No 42, 154 and 68 for 2,501 businesses with nearly 380,000 workers, worth over VND2 trillion.
- The sector reduced payments into the labour accident and occupational disease insurance funds following Resolution 68 for nearly 390,000 businesses with 11.7 million workers, worth over VND4.1 trillion. 
- The sector reduced payments into the unemployment insurance fund following Resolution No 116 for over 346,000 businesses with 12 million workers, worth more than VND9.2 trillion. 
- The sector funded vocational training to improve professional skills for workers to keep their jobs following Resolution No 68 for 66 businesses with 8,230 workers, worth nearly VND38.87 billion.
- The sector provided financial support from the unemployment insurance fund for 13.3 million workers following Government Resolution No 116 and the National Assembly Standing Committee Resolution No 15, worth over VND31.8 trillion. 


 The Vietnam social insurance sector paid over VND47.2 trillion from social insuranceand unemployment insurance funds for businesses and workers. Photo for illustration 

The payment demonstrated the efforts and determination of the Vietnam social insurance sector in effectively implementing Government support packages for businesses and workers. 
The issuance of the support packages for businesses and workers affected by the COVID-19 pandemic showed the care, leadership and sound direction of the Party, Government and National Assembly in providing effective and practical support for businesses and workers in a timely manner to help them overcome difficulties caused by the pandemic.
It also proved the active and proactive role of the Vietnam social insurance sector in consulting and working with the Government and ministries, sectors and localities in putting forward measures to support businesses and workers affected by the pandemic; and demonstrated the responsibility, efforts and determination of the sector in ensuring the benefits of social insurance and unemployment insurance participants, contributing to stabilising the living conditions of people and national socio-economic development./.

VSS