Vietnam Social Security collects 121.1 trillion VND in revenue

Illustrative image (Source: VNA)

Hanoi (VNA) – The Vietnam Social Security (VSS) collected 121.1 trillion VND (5.38 billion USD) in revenue as of late May, or 36.7 percent of the yearly plan, it announced during a press conference in Hanoi on May 30 on social and health insurance. 

Of the figure, 83.6 trillion VND was social insurance revenue while 5.6 trillion VND and 31.8 trillion USD was from unemployment and health insurance, respectively. 

There were 13.79 million compulsory social insurance, 240,000 voluntary social insurance, 11.6 million unemployment insurance and 81.3 million health insurance participants, or 86.6 percent of the entire population. 

In May alone, VSS handled 10,125 cases entitled to pensions and monthly social insurance benefits, 85,117 cases of lump-sum allowances, 858,380 people enjoying sickness, pregnancy and health rehabilitation benefits. 

In the first five months this year, up to 49,765 people enjoyed pensions and monthly social insurance benefits, 296,916 received lump-sum allowances and over 3,95 million received sickness, pregnancy and rehabilitation benefits. 

During the period, 70.6 million people underwent health check-ups and treatment using health insurance, 205,894 enjoyed unemployment allowances and 11,538 others received grants for vocational training. 

Total spending on social, health and unemployment benefits hit 122.5 trillion VND, or 41.62 percent of the yearly plan. 

Deputy head of the VSS’s Insurance Payment Collection Department Mai Duc Thang said total delayed insurance payment topped 10 trillion VND in five months, accounting for 5 percent of the total, down 1 percent annually. 

He added that the VSS is inspecting firms that have delayed insurance payment for three months and more. Those delaying for six months are under unscheduled inspection. 

Thang said the VSS could surpass its insurance revenue target by 1-2 percent this year.-VNA