Currently receiving pension, do business owners have to pay compulsory social insurance

Ms. Duong Thi Minh Chau - Head of the Department of Propaganda and Support for Social Insurance Participants Region I (Hanoi) - advised:

The Social Insurance Law 2024 (Law No. 41/2024/QH15) was passed by the 15th National Assembly on June 29, 2024 and will officially take effect from July 1, 2025.

One of the key new points of the Social Insurance Law 2024 is the expansion of participants and full beneficiaries of social insurance regimes. Specifically, the Law has added business owners with business registration to the list of subjects participating in compulsory social insurance.

However, the Social Insurance Law 2024 also clearly stipulates subjects not subject to compulsory social insurance. According to Point a, Clause 7, Article 2 of the Law on Social Insurance 2024: "People receiving pensions, social insurance benefits, monthly allowances" are not subject to compulsory social insurance.

Thus, although the Social Insurance Law 2024 expands the coverage of subjects participating in compulsory social insurance, including business owners, those who have retired and are receiving pensions will not be subject to compulsory social insurance.

This policy ensures that those who have received long-term social security benefits will not have to continue to contribute to the compulsory social insurance fund, avoid duplication in the system and protect the rights of beneficiaries.

The Social Insurance Law 2024 is built with three specific goals, including ensuring social security according to the Constitution, amending practical problems, and expanding rights and benefits to attract employees to participate in social insurance, aiming to form a multi-layered social insurance system. This system includes social pension benefits, basic social insurance (mandatory and voluntary) and supplementary pension insurance.

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