Proposal to support voluntary social insurance payments for people aged 45 to 60 years

On August 7, Ho Chi Minh City Social Insurance announced that it had issued a document proposing to support voluntary social insurance payments for employees aged 45 to 60 to receive pensions when eligible.

Accordingly, Ho Chi Minh City Social Insurance proposes to support the contribution level for people aged 45 to 60, the additional support level of 20% in addition to the central support level of 20% to have a pension after 15 years of participation, and to be issued a health insurance card with a benefit level of 95%.

This proposal is based on Article 98 of the Law on Social Insurance 2024, which stipulates: Voluntary social insurance participants are entitled to receive pensions when they reach retirement age as prescribed in Clause 2, Article 169 of the Labor Code and have paid social insurance for 15 years or more; Clause 6, Article 6 of the Law on Social Insurance 2024 stipulates incentives for localities depending on socio-economic conditions, the ability to balance the budget, combined with mobilizing social resources to support additional social insurance contributions for voluntary social insurance participants and provide additional support to beneficiaries of social pension benefits.

In addition, Ho Chi Minh City Social Insurance also proposed to include the social insurance and health insurance coverage ratio in the annual socio-economic development targets and tasks and the Resolution of Party Congresses at all levels, Leaders coordinate propaganda and mobilization to participate in household health insurance and voluntary social insurance in ethnic communities throughout the area.

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