According to Vietnam Social Security, in 2024, nearly 1.1 million workers will withdraw social insurance at once, down 1.6% compared to 2023.
At a press conference on the afternoon of January 14 in Hanoi, Mr. Do Ngoc Tho, Head of the Social Insurance Policy Implementation Department under the Vietnam Social Security, explained that the reduction in social insurance benefits was due to the fact that the amended Social Insurance Law clearly stipulates a one-time social insurance payment plan. Those who participated before July 1, 2025 will still receive normal benefits, so workers can rest assured and not worry about their benefits being reduced.
The revised Law on Social Insurance, effective from July this year, expands benefits for workers, such as reducing the number of years of social insurance contributions from 20 to 15, adding a monthly subsidy level if workers of retirement age are not eligible for benefits and do not withdraw at once... In addition, the socio-economic situation has many positive changes, workers have better incomes so they do not think about withdrawing at once.
"Hopefully when the revised law comes into effect and comes into practice, the one-time withdrawal trend will gradually decrease and eventually end, except for special cases such as serious illness, settling abroad...", Mr. Tho said.
From July 1, 2025, the one-time social insurance regime will apply to those who join the system before this time; those who are of retirement age but have not contributed for 15 years; some cases of settling abroad, suffering from serious illness, labor capacity reduction of 81% or more, and especially severe disabilities.
By the end of 2024, the number of workers participating in social insurance will reach 20 million, equivalent to 42.7% of the working-age workforce. Of which, 17.7 million are in the compulsory sector and 2.3 million are in the voluntary sector. About 16 million people participate in voluntary insurance, accounting for 34% of the working-age workforce. Health insurance alone covers 95.4 million people, reaching 94% of the population.
In the same year, the social insurance sector paid pensions, social insurance benefits, and monthly allowances to 3.4 million people; 900,000 people received unemployment benefits; about 9.4 million people received sickness, maternity, health recovery, and one-time social insurance benefits; and paid health insurance medical examination and treatment costs for more than 186 million people.
TH (according to VnExpress)