PM urges ministry to finish decree on voluntary pensions
The Prime Minister has urged the Ministry of Finance to complete drafting of a decree on a voluntary pension (superannuation) fund for approval by the end of May.
Illustrative photo (Source: bizlive.vn)Hanoi (VNA) – The Prime Minister has urged the Ministry of Finance to complete drafting of a decree on a voluntary pension (superannuation) fund for approval by the end of May.
A voluntary pension fund is a popular investment fund in the global finance market which is normally operated to raise funds through contributions of members and invested with a view to increasing the fund’s asset value and income of fund members in their old age.
According to experts, the fund would not only contribute to improving social welfare as a long-term saving but also supply capital to boost demand for the securities market, especially the government bond market, thanks to its investment activities.
The draft decree was expected to develop the legal framework for the operation of the fund in Vietnam.
Market players have been waiting for the decree on the fund as its issuance missed several deadlines due to overlaps and inconsistencies in regulations between the Ministry of Finance and the Ministry of Labour, Invalids and Social Affairs.
The decree was supposed to have been issued in 2014, and then again in 2015.
The capital market working group of the Vietnam Business Forum last year urged the legal framework for the funds to be issued soon.
The fund was one of the conditional businesses listed in the Law on Investment which have requirements for their conduct. The Prime Minister said that the legal frameworks for conditional businesses must be issued before July 1.-VNA
You should also see
Noi Bai, Da Nang named in world’s top 100 airports
Hanoi capital’s Noi Bai International Airport and the Da Nang International Airport in the central city of the same name have been listed among the world’s top 100 airports in 2024 by the UK–based aviation consultancy Skytrax.
See more
Society
Amended Land Law - breath of fresh air blown into real estate market: lawyer
The amended Land Law, approved by the National Assembly in January 2024, is expected to exert impacts on the business activities of overseas Vietnamese (OVs), including those in Australia., said a lawyer.
Society
Green growth – a pillar of Vietnam-Australia comprehensive strategic partnership
The Australian Government, through agencies and partners, have launched many official development assistance (ODA) projects in Vietnam, including those on climate change adaptation and clean energy infrastructure.
Society
Vietnamese in Thailand, Israel commemorate legendary nation founders
The overseas Vietnamese (OVs) communities in Thailand and Israel have held events to commemorate Hung Kings, the legendary founders of the nation.
Society
Vietnamese youth pledge to join hands in climate change response
A representative of Vietnam has affirmed the youth’s commitment to joining hands in climate change response, while attending a plenary session of the UN Economic and Social Council (ECOSOC) Youth Forum in New York on April 17.
Society
Russian, Vietnamese university rectors gather in Moscow
The second forum of rectors of Russian and Vietnamese universities took place at the Lomonosov Moscow State University (MGU) on April 18.
