Insurance premiums to rise
The HCM City Social Insurance Agency
has instructed enterprises to apply the new rates for social security,
health and unemployment insurance that will take effect on January 1,
2010.
The HCM City Social Insurance Agency
has instructed enterprises to apply the new rates for social security,
health and unemployment insurance that will take effect on January 1,
2010.
Accordingly, the social security contribution will increase to 22 percent of the contracted monthly salary, with the employer paying 16 percent and the employee the remaining 6 percent. The current rates are 15 and 5 percent, respectively.
The health insurance premiums, meanwhile, will increase to 4.5 percent with the employer paying 3 percent, up from 2 percent, and the employee paying 1.5 percent, up from 1 percent. Unemployment insurance will be maintained at the old rate of 2 percent, with equal contributions from both employer and employee.
Do Quang Khanh, deputy head of the HCM City Social Insurance Agency, said the rate of insurance was based on the salary level in employment contract.
“Under the regulation, from 2010, the employer portion for social security will increase by 2 percent every two years until it reaches 22 percent, and employee portion will increase by 1 percent every two years until it reaches 8 percent,” Khanh said./.
Accordingly, the social security contribution will increase to 22 percent of the contracted monthly salary, with the employer paying 16 percent and the employee the remaining 6 percent. The current rates are 15 and 5 percent, respectively.
The health insurance premiums, meanwhile, will increase to 4.5 percent with the employer paying 3 percent, up from 2 percent, and the employee paying 1.5 percent, up from 1 percent. Unemployment insurance will be maintained at the old rate of 2 percent, with equal contributions from both employer and employee.
Do Quang Khanh, deputy head of the HCM City Social Insurance Agency, said the rate of insurance was based on the salary level in employment contract.
“Under the regulation, from 2010, the employer portion for social security will increase by 2 percent every two years until it reaches 22 percent, and employee portion will increase by 1 percent every two years until it reaches 8 percent,” Khanh said./.
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