Vietnam Social Insurance held a conference on October 11 with Japanese FDI enterprises on the implementation of social insurance and health insurance policies. Data from the conference shows that there are currently more than 2,100 Japanese FDI enterprises in Vietnam with nearly 525,000 employees participating in social insurance. Social insurance revenue in this business sector accounts for 12.9 per cent of the total revenue of FDI enterprises in Vietnam.
After seven years of negotiations, Vietnam and South Korea signed an agreement on social insurance on December 14. Vietnamese workers will be able to continue to pay insurance contributions when going to work in South Korea and likewise for South Korean workers coming to Vietnam. This is Vietnam’s first comprehensive bilateral social insurance agreement.
At a working session with Prime Minister Pham Minh Chinh on December 8, Vietnam Social Security set a target of 23.1 million people participating in social insurance by the end of 2025 and 18 million in unemployment insurance, accounting for 45 per cent and 35 per cent, respectively, of the workforce, while the health insurance coverage is to be 95 million people, or 95 per cent of the population.
The government issued a Decree on December 7 adjusting pensions, social insurance benefits, and monthly assistance. Pensions and social insurance benefits will increase 7.4 per cent from January 1.
The Ministry of Labor, War Invalids and Social Affairs (MoLISA) will conduct a nationwide inspection of the social insurance sector in 2022, focusing on businesses with outstanding payments.
Social insurance agencies had confirmed a list as of September 17 of more than 1.2 million employees with over 38,200 employers that can benefit from a support package totaling VND26 trillion ($1.14 billion).
