The Social Security (Minimum Standards) Convention, 1952 (Convention No. 102), of the International Labor Organization (ILO), provides nine social insurance policies. Out of these policies, Vietnam is currently implementing six fundamental ones, including sickness, maternity, occupational accident and disease, retirement, survivorship, and unemployment under both compulsory and voluntary social insurance. With more entitlements and wider coverage, social insurance has actually become a critical safety net for workers based on income protection policies. 
At the same time, remarkable achievements have been seen in the improvement and implementation of the social insurance law. 
On May 23, 2018, the Party Central Committee (the 12th National Congress) issued Resolution 28 on reform of social insurance policies with many novel provisions. It sets the targets that 35 percent, 45 percent and 60 percent of the labor pool in working age will be covered by social insurance by 2021, 2025 and 2030, respectively. 
According to Decision 38/QD-TTg dated January 11 by the Prime Minister for the Strategy for social insurance development, by 2030, Vietnam will have 60 percent of the working-age population covered by social insurance, in which farmers and the informal sector’s workers covered by voluntary social insurance will account for some 5 percent. 
There will be 45 percent of the working-age population covered by unemployment insurance, around 60 percent of retired people receiving pensions, monthly social insurance and retirement benefits, and over 97 percent of the entire population covered by health insurance.
Besides, the rate of people and businesses satisfied with administrative procedure settlement is expected to reach 95 percent and the index reflecting the satisfaction rate of social insurance participants will reach 90 percent.
It is also targeted to have 75 percent of the population receiving social insurance and unemployment insurance benefits by cashless payment modes in urban areas.
Another target set by the Strategy is to continue promoting digital transformation, researching and developing the information technology system of Vietnam’s social security sector in order to meet the requirements on integration, interconnectivity, linkage and centralized processing of dossiers.
To that end, Reforms should be made synchronously to expand social insurance coverage towards social insurance for all and to ensure the long-term balance of the social insurance fund.
it is necessary to develop the National Insurance Database; and interconnect and share data of the National Insurance Database with the National Population Database and other national and specialized databases in order to facilitate the provision of public services, creating favorable conditions for the people and employers, and big data-based inspection and control activities.
 To continue to reform administrative procedures, renovating the implementation of the single- (NA) passed Law 41/2024/QH15 on Social Insurance (SI) during its seventh sitting at the end of June 2024, with 93.42 percent of the deputies voting in favor. It will be effective from July 1, 2025, includes new amendments aimed at enhancing social insurance coverage and adequacy in the country. The new law’s enforcement will lead to the annulment of Law No. 58/2014/QH13 on SI and Resolution No. 93/2015/QH13 on implementing the one-time SI policy for employees.
The amended Social Insurance Law, comprising 11 chapters and 141 articles, introduces significant revisions aimed at enhancing social security in line with the Constitution. These changes institutionalise reform guidelines outlined in Resolution 28 of the Việt Nam Communist Party Central Committee and related documents, addressing actual challenges while expanding rights and benefits to encourage greater participation in social insurance.

One of the major changes in the revised law is the introduction of social pension benefits, establishing a multi-layered social insurance system. This new benefit is funded by the State and builds on existing provisions for elderly individuals who do not receive pensions or monthly social insurance benefits. The eligibility age for social pension benefits has been lowered from 80 to 75 years. Additionally, individuals aged 70 to 75 from poor and near-poor households will also qualify for these benefits.

Another key revision strengthens the connection between social pension benefits and basic social insurance. The revised law introduces a monthly subsidy for employees who do not qualify for pensions and are not yet old enough to receive social pension benefits. Specifically, those who retire without meeting the 15-year contribution requirement can receive this monthly subsidy, with their health insurance costs covered by the State budget during this period. This change aims to provide more comprehensive support for workers who have contributed to the social insurance system but are not yet eligible for full pension benefits.

The revised law also expands the scope of compulsory social insurance to cover new groups. These include business owners of registered households, non-professional workers at the commune, village, and residential group levels, part-time workers, and unpaid business and cooperative managers. By including these groups, the law aims to extend social insurance coverage to a broader segment of the population, ensuring that more individuals can access the benefits and protections offered by the system.
In addition to expanding coverage, the law enhances benefits for non-professional workers at the commune level. These workers will now be eligible for sick leave and maternity benefits, in addition to the retirement and death benefits they currently receive. This change recognises the valuable contributions of non-professional workers and seeks to provide them with a more comprehensive range of social insurance benefits.

Voluntary social insurance participants are also set to benefit from the revised law. Those who meet certain conditions will be entitled to a maternity allowance of VNĐ2 million per newborn child, funded by the State budget. Importantly, this allowance does not require participants to pay more than the current rate set by regulations, making it an accessible benefit for voluntary contributors.

To make pensions more accessible, the minimum required contribution period for pension eligibility has been reduced to 15 years from 20 years. This change allows more individuals to qualify for pension benefits, especially those who may have had interruptions in their careers or contributions.

The law also introduces measures to encourage employees to reserve their contributions rather than opting for a lump-sum payment. Employees who stop participating in social insurance can still request a lump-sum payment under specific conditions. However, those who choose to reserve their contributions instead of taking a lump sum will benefit from improved pension conditions, health insurance coverage, and monthly allowances. These incentives are designed to promote long-term participation in the social insurance system, ensuring that employees can maximise the benefits they receive upon retirement.

The law also takes steps to protect the rights of Vietnamese citizens working abroad and foreigners working in Việt Nam. It aligns the duration of social insurance participation with international treaties to which Việt Nam is a member, ensuring that these working people's rights are safeguarded under the revised legal framework.
To further improve the management of social insurance funds, the revised law expands the portfolio and methods of investment. This change aims to enhance the efficiency of social insurance fund investments, ensuring that the funds are managed effectively and sustainably to support the long-term viability of the social insurance system.

Additionally, the revised law introduces a chapter on supplementary pension insurance. This new provision stipulates the subjects, principles, and policies related to supplementary pension insurance, providing employers and employees with more options to contribute and receive higher pensions. By offering these additional choices, the law aims to enhance the overall pension system, making it more flexible and responsive to the needs of participants.

One of the significant changes in the revised law is the replacement of the "base salary" with a "reference level". The reference level is a government-prescribed monetary amount used to calculate social insurance premiums and benefits. It will be adjusted based on economic indicators such as the consumer price index and economic growth, as well as the capacity of the State budget and the social insurance fund. This change is intended to ensure that social insurance calculations remain fair and reflective of the economic context.

The law also includes provisions to strengthen legal compliance and protect the legitimate rights and interests of employees. A dedicated chapter has been added to regulate the management of social insurance collection and payment, including the handling of late payments and evasion. These measures are designed to enhance the enforcement of social insurance obligations, ensuring that employees receive the benefits they are entitled to.

In an effort to simplify procedures and improve accessibility, the revised law includes provisions for electronic transactions in social insurance. It also reduces and simplifies the required records and procedures for implementing social insurance. These changes aim to make it easier for participants to access social insurance benefits and for employers to comply with their obligations.

Finally, the law amends and supplements existing regulations to better align with current realities and ensure the rights of employees are more comprehensively protected. By inheriting and developing current regulations while amending those that are inappropriate, the law aims to ensure feasibility, consistency, and unity within the legal system.