Solving Vietnam’s social protection sustainability problem
As an economy develops, economic policy and social policy tend to overlap. Reports of long queues of people in Ho Chi Minh City withdrawing their social insurance contributions after losing their jobs during the COVID-19 pandemic is an example.
Stemming social insurance withdrawals in Vietnam
Vietnam is revising its social insurance law to discourage employees from withdrawing their social insurance premiums early and giving up their pensions. There is concern that the proposed changes might cause discontent among factory workers, many of whom have resorted…
Factories left understaffed as revised insurance law drives workers away
Despite signs of business recovery, factory workers are quitting in hordes to make sure they can get a one-time social insurance withdrawal before the law is changed.
Vietnam’s social insurance dilemma
At the end of 2022, there were reports of long queues of employees in Ho Chi Minh City who had been waiting since dawn at several local offices to claim lump sum payments from their social insurance premiums.
Covid forces workers to quit social security, withdraw accumulated premiums
The Vietnam Social Security has said it is « concerned » that Covid-19 has forced many people to exit the social insurance safety net.
Vietnam risks ‘growing old before becoming rich’
Vietnam will enter the aging population stage in 2040, expected to burden social security.
No jobs, no social insurance : Workers left in the lurch by employers
Millions of workers lost their jobs to Covid-19, but many do not even get unemployment benefits since their former employers failed to pay social insurance premiums.