VSS proposes increasing assistance for voluntary social insurance holders

Illustrative photo. (Source: VNA)

Hanoi (VNA) – The Vietnam Social Security (VSS)has proposed the Ministry of Labour, Invalids and Social Affairs raise theState’s monetary support for payment of voluntary social insurance premiums.

The assistance is proposed to increase from the currentlevel of 30 percent to 50 percent of the total premiums for poor holders andfrom 25 percent to 30 percent for near-poor holders. Others will be entitled to20 percent, instead of 10 percent at present, according to the VSS’s proposal.

The agency expects the raise will help attract morevoluntary participants, particular those from poor and near-poor households,with the coverage growing from nearly 1.13 million at the end of 2020 to around3.6 million by the end of 2025 and 8.9 million by 2030./.

VNA