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Two thirds of foreign workers in VN join compulsory social insurance

Nearly two thirds of foreign workers in Vietnam join compulsory social insurance

An estimated 64 percent of foreign workers in Vietnam have joined compulsory social insurance after the Government’s decree 143/2018/ND-CP regulating compulsory social insurance for foreign workers took effect.
Nearly two thirds of foreign workers in Vietnam join compulsory social insurance ảnh 1An estimated 64 percent of foreign workers in Vietnam have joined compulsory social insurance (Illustrative photo: en.nhandan.com.vn)

Hanoi (VNA) – An estimated64 percent of foreign workers in Vietnam have joined compulsory socialinsurance after the Government’s decree 143/2018/ND-CP regulating compulsorysocial insurance for foreign workers took effect.

The figure was revealed recentlyby Dinh Duy Hung, deputy director of the Contribution Collection Departmentunder the Vietnam Social Security (VSS).

Hung said total collection ofsocial insurance premiums paid by foreign workers in the country has amountedto 100 billion VND.

According to statistics by the Ministry ofLabour, Invalids, and Social Affairs, the number of foreign employees in thecountry increased from 63,557 in 2011 to 83,046 in 2016. They mostly came fromAsian countries like China, the Republic of Korea, and Japan, accounting for 73percent of the total; followed by European nations (21.6 percent) and NorthAmerica (2.4 percent).

Decree No.143/2018/ND-CP took effect fromDecember 1, 2018. It stipulates that employees who are foreign citizens workingin Vietnam with either a work permit, practice certificate, or practice licencegranted by Vietnamese authorities and under unfixed-term labour contracts orcontracts with a term of full one year and above will be covered by compulsorysocial insurance.

Similar to Vietnamese employees, the social insurance schemefor foreigners will cover sickness, maternity, occupational diseases andaccidents, retirement, and survivor benefits.-VNA  
VNA
#foreign workers#compulsory social insurance#Government's decree#Vietnam Social Security (VSS)#work permit#vietnamplus#Vietnam News Agency
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