Reforms to ensure social insurance key pillar in social security system
At the seventh session of the 12th-tenure Party Central Committee
Party General Secretary Nguyen Phu Trong on May 23 signed off Resolution 28-NQ/TW on reforming social insurance policies, issued at the recent seventh session of the 12th-tenure Party Central Committee.
The resolution states that the social insurance system will be developed flexibly into a perse, multi-level and modern system that matches international practices. The State’s management capacity and efficiency will be improved while a lean, professional, modern, trustworthy and transparent system for social insurance policy implementation will be developed.
The resolution also sets up detailed objectives for each period.
It targets that by 2021, about 35 percent of the workforce will take part in social insurance, and about 28 percent will participate in unemployment insurance. About 45 percent of the persons beyond the retirement age will receive retirement pensions, monthly social insurance benefits and post-retirement benefits. The satisfaction with social insurance index will reach 80 percent.
By 2025, around 45 percent of the workforce will take part in social insurance, and some 35 percent will participate in unemployment insurance. About 55 percent of the persons beyond the retirement age will receive retirement pensions, monthly social insurance benefits and post-retirement benefits. The satisfaction with social insurance index is expected at 85 percent.
The resolution targets that by 2030, about 60 percent of the workforce will take part in social insurance, and about 45 percent will participate in unemployment insurance. About 60 percent of the persons beyond the retirement age will receive retirement pensions, monthly social insurance and post-retirement benefits. The satisfaction with social insurance index is hoped to reach 90 percent.
The resolution requests reforms be made synchronously to expand social insurance coverage towards social insurance for all and to ensure the long-term balance of the social insurance fund.
Those reforms include building a multi-level social insurance system, flexibly amending the regulations on the minimum social insurance participation duration eligible for retirement benefits, enhancing the connectivity of social insurance policies, and reforming the making and the implementation of policies to promote people’s trust in and satisfaction with the social insurance system.
To achieve the abovementioned objectives, the resolution also devises certain resolutions, including fine-tuning the legal system on labour, employment and social insurance; improving the State’s capacity and efficiency of social insurance management; promoting the capacity of administering and effectiveness of implementing social and unemployment insurance policies; and enhancing the Party’s leadership and the role of people, the Vietnam Fatherland Front and socio-political organisations in this work.
Related News
13th Party Central Committee’s 8th session creates momentum for national reform
15:39 | 09/10/2023 Headlines
Eighth plenum of 13th Party Central Committee opens
14:47 | 02/10/2023 Headlines
Party Central Committee nominates personnel for election to State presidency
17:31 | 01/03/2023 Headlines
13th Party Central Committee’s sixth plenum concludes
18:51 | 09/10/2022 Headlines
Latest News
GDP grows 5.66% in Q1
15:06 | 29/03/2024 Headlines
Gov’t determined to hasten ODA, concessional loan disbursement: Deputy PM
14:55 | 28/03/2024 Headlines
Vietnam, US hold first foreign ministerial-level dialogue
15:49 | 26/03/2024 Headlines
Adaptive, fundamental, and synchronous solutions to improve the effectiveness of attracting FDI
09:52 | 26/03/2024 Headlines
More News
Vietnam attends 148th IPU Assembly in Geneva
15:41 | 25/03/2024 Headlines
More Vietnamese people go cashless: Visa study
15:39 | 25/03/2024 Headlines
Without resolving three significant bottlenecks, real estate market's revival will face numerous challenges
19:39 | 24/03/2024 Headlines
Top Finnish legislator begins official visit to Việt Nam
19:36 | 24/03/2024 Headlines
Build advantages - Secure the future with Vietnam ESG 2024 Initiative
15:39 | 24/03/2024 Headlines
Nearly 20 commercial banks lower deposit rates
17:52 | 23/03/2024 Headlines
Breakthrough policies look towards green economy
17:51 | 23/03/2024 Headlines
Vietnam remains attractive destination for foreign investors
17:49 | 23/03/2024 Headlines
Bright spots at the beginning of the year
10:51 | 23/03/2024 Headlines
Your care
GDP grows 5.66% in Q1
15:06 | 29/03/2024 Headlines
Gov’t determined to hasten ODA, concessional loan disbursement: Deputy PM
14:55 | 28/03/2024 Headlines
Vietnam, US hold first foreign ministerial-level dialogue
15:49 | 26/03/2024 Headlines
Adaptive, fundamental, and synchronous solutions to improve the effectiveness of attracting FDI
09:52 | 26/03/2024 Headlines
Vietnam attends 148th IPU Assembly in Geneva
15:41 | 25/03/2024 Headlines