Nearly 2 billion USD spent on unemployment insurance in 2 years

Illustrative photo (Source: VNA)

Hanoi (VNA) - The Vietnam Social Security (VSS) has used morethan 45.444 trillion VND (1.96 billion USD) from the unemployment insurance fundto pay for employees and employers over the past two years, given seriousCOVID-19-induced difficulties facing production and business activities.

In the context of the pandemic during the period,the Prime Minister issued a series of polices on social and unemploymentinsurance in support of employees and employers. A highlight among them was the support package worthover 30 trillion VND from the unemployment insurance fund under theGovernment’s Resolution No. 116, the largest direct cash aid ever.

In 2020-2021 and the first five months of 2022,the VSS has spared no efforts to quickly and effectively deliver the aidpackages to its beneficiaries.

The VSS said it allowed 2,760 units with 374,126employees to suspend their payment of the retirement and survivorship fund,which was valued at 1.913 trillion VND.

As of May 27, the VSS also paid 23.5 billion VNDon funding to support training to maintain jobs for 5,038 employees of 36units./.

VNA