On March 30, Hanoi Social Security informed that the inter-sectoral social insurance agencies, Department of Labor, War Invalids and Social Affairs and Hanoi Department of Finance have just issued Document No. 882 to guide suspension of contributions to the retirement and survivorship fund for businesses having difficulties due to the COVID-19 epidemic.

Accordingly, in order to create favorable conditions for enterprises to quickly overcome difficulties and stabilize production and business, Hanoi City decided to consider settlement on the enterprises' requests to suspend contributions to the retirement and survivorship allowance fund from employees.

Subjects of application are employers (collectively referred to as enterprises) that are facing difficulties caused by the COVID-19 epidemic, resulting in an inability to arrange jobs for workers. In particular, the number of employees participating in compulsory social insurance and taking temporary leave accounts for 50% or more of the total number of present employees before the suspension of production and business; or enterprises suffer losses of more than 50% of the total value of assets caused by the epidemic (excluding the properties of land value).

Duration of the policy application: Starting from the month that the enterprises propose and submit full documents to the social insurance agency until June 2020.

Hanoi Social Security clearly states: In the case that if the COVID-19 epidemic will not be in remission by the end of June 2020, and if it is requested by the enterprises, the Ha Noi Social Security will coordinate with the Department of Labor, War Invalids and Social Affairs and the Department of Finance to report to the Hanoi Municipal People’s Committee to submit to Vietnam Social Security to consider settlement on the temporary suspension of contributions to the retirement and survivorship allowance fund till December 2020.