Social insurance coverage increases by 114.8 percent in Binh Duong province

Insurance agency in the southern province of Binh Duong said that by the end of first quarter 2019, there were nearly 950,000 social insurance buyers including 3,000 voluntary participants, an increase of 114.8 percent compared to the same period last year.

Social insurance buyers can pay the premium in commune, town people’s committees monthly or quarterly or once for maximum of four years.
Those who have not paid social insurance before can pay once so that they can enjoy the retirement salary as per the present regulations.
Moreover, voluntary participants can pay a sum equal to 25 percent of their monthly income with the lowest amount of VND700,000 ($30.1) and highest amount equal to 20 times of basic wage.

By TRUNG XUAN - Translated by DAN THUY

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