VSS Deputy General Director Le Hung Son and BIDV Deputy General Director Tran Long signed an agreement on bilateral payments and cash flow management

The signing of the agreement on bilateral payment connections and cash flow management on October 15, 2020 has made way for VSS and BIDV to officially operate the function of 24/7 social insurance premium payment on the VSS electronic transaction portal. Specifically: Enterprises can easily search and pay the premiums of social, health and unemployment insurance; Individuals can also easily look up and renew the household health insurance cards or continue to pay voluntary social insurance premiums for themselves and their relatives. Via the facilities provided by BIDV (BIDV SmartBanking, BIDV Online, BIDV Business Online) or performing public services on the National Public Service Portal (htttps: //dichvucong.gov.vn) as well as 24/7 payments and collection of social insurance premium on the electronic transaction portal for social insurance (https://dichvucong.baohiemxahoi.gov.vn), people can pay for the extension of household health insurance cards or continue to pay the voluntary social insurance premiums. For organizations and enterprises, they can pay social insurance, health insurance and unemployment insurance premiums for their employees quickly, accurately and conveniently.

In addition to creating the most favorable contitions for social, health and unemployment insurance payers, the expansion of the bilateral payment system continues to contribute to enhancing the ability to monitor, supervise and centralize the funds for social, health, and unemployment insurance quickly, accurately and effectively, helping VSS to be proactive in collecting, spending and managing cash flows; at the same time, meeting the level 4 online public service standard in accordance with the Prime Minister’s policy and the State Bank of Vietnam’s non-cash payment policy.

This is a breakthrough in the cooperation program between the social insurance industry and the BIDV system in particular and the commercial banking systems in general in the process of modernizing the VSS’s collection and spending activities, bringing the best benefits to organizations and individuals when participating in and enjoying the regimes and policies of social, health and unemployment insurance.