Role of Social Insurance in Assurance of Social Security in Vietnam

Tóm tắt

Social insurance is considered one of the key pillars of a social security system in many countries. It means the guarantee to fully or partially offset labourers’ income lost or reduced due to their sickness, maternity, occupational accidents and diseases, unemployment, retirement or death, on the basis of their contributions to the social insurance fund. The programme, financed by contributions from employers and employees as well as by government revenue, consists of both voluntary and compulsory insurance and unemployment insurance. The author points out a number of issues characterising social insurance in Vietnam, including a low rate of enrolment, low level of payment, cumbersome formalities for beneficiaries, and employer’s non-payment of social insurance for their workers. The Government should encourage and create conditions for private agencies, organisations and individuals to participate in social insurance. It should adopt preferential policies of investment in the social insurance fund and other necessary measures to preserve and develop the fund. In the short run, information, education and communication on social insurance should be enhanced to both providers and beneficiaries. Workers in the informal sector should be prioritised and supported to join social insurance. Strict punishments will be handed out to any firm reneging on paying insurance for its workers.