Illustrative image (Source: VNA)
Hanoi (VNA) — The number of people receiving unemploymentallowance is estimated to reach 1.03 million by the end of this year, about 24percent higher than the same period last year due to the impacts of theCOVID-19 pandemic.
As calculated, the totalpayment for unemployment allowance has reached over 16 trillion VND (689 million USD) by the end of December, about 33 percenthigher than the same period last year.
Dao Duy Hien, deputy head of Social Insurance PolicyImplementation Department under VietnamSocial Security, revealed the data at a recent online meeting on “Promoting efficiency of unemploymentinsurance policy."
Hien also added that the unemployment insurancepolicy already affirmed its important role in sharing the financial burden forlabourers during the pandemic, contributing to ensuring the economic and socialstability of the country.
He said the COVID-19pandemic has affected every aspect ofsocio-economic life this year, especially the sectors of tourism,accommodation, catering and education.
Dao Duy Hien, deputy head of Social Insurance Policy Implementation Department under the Vietnam Social Security at the meeting. (Photo: nhandan.com.vn)In response to thesituation, the Government promptly issued Resolution No 42/NQ-CP on April 8about solutions to support people and businesses affected by the pandemic, hesaid.
Under the resolution, both employees andemployers who were affected by the pandemic were allowed to temporarily suspendtheir payments to the retirement and survivor benefits fund for 12 months, hesaid.
The resolution alsoallowed unemployed labourers to apply for the unemployment allowance online, hesaid.
Hien said it is estimated that the number ofpeople participating in unemployment insurance would reach about 13.2 millionwith the total payment of over 18 trillion USD (773 million USD) by December 31, he said.
The unemploymentinsurance fund had been operated well in accordance with regulations and had asurplus in recent years, he said.
By the end of 2019, thefund's surplus was about 84 trillion VND(3.6 billion USD).Profits from the fund's annual investment activities were allocated inaccordance with regulations, he said.
The surplus would helpto balance the fund if the number of people receiving unemployment allowancecontinued increasing due to the pandemic, he said./.
