Government Decree No. 135/2020/ND-CP, effective as of January 1, 2021, states that starting next year, the new retirement age will be 60 years 3 months for men and 55 years 4 months for women. SGGP has conducted an interview with Director of Vietnam Social Security Phan Van Men about the possible effects of this change to workers in Ho Chi Minh City (HCMC).
PouYuen Vietnam, a sports shoe manufacturer in Ho Chi Minh City’s Binh Tan District today announced it terminated 2,786 labor contracts due to the unfortunate circumstances of the Covid-19 crisis.
The HCMC Export Processing and Industrial Zones Authority (HEPZA) announced to give financial aid to laborers who were laid off during the coronavirus pandemic as per the People’s Council’s resolution 02/2020.
According to the government’s decree No. 143/2018, foreign workers would pay 8 percent of their monthly salary to the retirement and survivorship allowance fund from January 1, 2022.
Vietnam Social Insurance Agency has started collection of compulsory social insurance to foreign workers in Vietnam but some businesses have puzzled over the premium payment in HCMC, where about 10,000 foreign employees are licensed a year.
Bilateral agreements for a new generation of social insurance policy have been negotiated to support foreign workers engaging in Vietnam’s social insurance scheme, said Deputy General Director of the Vietnam Social Security (VSS) Dao Viet Anh.
Around 81.3 million Vietnamese people bought health insurance by the end of May, a representative of the Vietnam Social Security said at a conference to review the 5-year implementation of the Politburo’s Resolution No.21-NQ/TW on enhancing the Party’s leadership over social and health insurance work between 2012 and 2020 on June 28.
Social insurance debts topped VND14 trillion (US$616.08 million) at the end of March and it is likely to increase now but the VGCL has been unable to sue any business.
