Illustrative image (Source: congdoan.vn)Under the proposed draft Social Insurance Law (revised), theministry suggested that the policy is applied on needy people at the retirementage, which is 62 for men and 60 for women according to an approved roadmap.
The support will be provided until they reach the age of 75.They will then continue to receive pension benefits paid from the State budget,the bill said.
The support level will be based on the duration of theirsocial insurance premium payment, with the lowest amount being 360,000 VND (14.88 USD)per month.
The MoLISA explained that labourers who pay their socialinsurance premiums basing on the monthly salary of 2 million VND, the lowestamong the groups subjected for compulsory social insurance payment, will enjoy only five years of social insurance benefits, which means there willbe gap years during which they are eligible to no support policies.
If the proposal is approved, the social welfare system willhave three layers. The first is the basic social insurance benefits forlabourers starting from their joining of the system until before theirretirement age, the second is support to people from the retirement ageuntil 75 years old, and the last is pension for people from 75 years old.
Currently, Vietnam has more than 14.4 million seniorcitizens who exceed the retirement age, but only 5.1 million of whom, or 35%,are enjoying support policies.
The draft Social Insurance Law (revised) is scheduled to be debatedat the National Assembly later this year./.
VNA
