Society

No risk of insolvency for social insurance fund: official

Vietnam Social Security Fund (VSSF) will not go bust by 2025, Deputy General Director of the Vietnam Social Security Dao Viet Anh has said.
No risk of insolvency for social insurance fund: official ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) –Vietnam Social Security Fund (VSSF) will not go bust by 2025,Deputy General Director of the Vietnam Social Security Dao Viet Anh has said.

Anhmade the affirmation at the Government’s regular press conference in Hanoi on May3, in response to a query raised by a Vietnam News Agency’s reporter on whetherthe proposal on raising retirement age is related to the forecast that the VSSFwill run out of money by 2025.

Hesaid the forecast was made by the International Labour Organisation before theissuance of the Law on Social Insurance in 2014.

However,under the new law, the coverage of social insurance has expanded and themethods to calculate premium and payments have changed, which made the previousforecast no longer correct, he further explained.

Hestressed that the proposal on higher retirement age must take into account variousissues like age, the efficiency of human resources use, labour productivity andgender equality, apart from social insurance fund balance.

OnApril 23 this year, the Ministry of Labour, Invalids and Social Affairs (MoLISA)came up with two scenarios for increasing retirement age to 60 for women and 62for men; or 60 for women and 65 for men, at a meeting of the National Assembly’sCommittee on Social Affairs.

Accordingto MoLISA Minister Dao Ngoc Dung, either of these options, if approved, will beimplemented with a planned timeline so that it will not be an immediate changefor labourers.-VNA
VNA
#Vietnam Social Security Fund#Vietnam Social Security#Vietnam News Agency#International Labour Organisation#Vietnam#VietnamPlus#Viet Nam News
Follow VietnamPlus

Related News

Gov’t defends national social insurance scheme

Gov’t defends national social insurance scheme

The National Assembly's Social Affairs Committee deputy chairman Bui Si Loi spoke with the Thoi bao Ngan hang (Banking Times) about the Government's guarantee for the social insurance fund.

See more

Illustrative image (Photo: VNA)

ASEAN’s goods, culinary culture promoted in Europe

The ASEAN Committee in Prague (ACP) launched an "ASEAN Food Corner" on October 22, aiming to promote the culinary culture and introduce goods from ASEAN countries to consumers in the Czech Republic and Europe at large.

If the plan is approved, public employees will enjoy a continuous 9-day Tet break from January 25 to February 2 next year. (Photo: VNA)

2025 Lunar New Year holiday plan submitted to PM

The Ministry of Labour – Invalids and Social Affairs on October 22 submitted a proposal to the Prime Minister regarding the schedule for the 2025 Lunar New Year (Tet) – Vietnam’s largest traditional celebration – and other national holidays.

Illustrative image (Photo: VNA)

Kien Giang continues to take firm stand against IUU fishing

The Standing Board of the Party Committee of southern Kien Giang province has called for strengthening the Party's leadership in the fight against illegal, unreported and unregulated (IUU) fishing, part of a broader national effort to have the “yellow card” warning lifted by the European Commission (EC).

Yen Bai city in the northern province of Yen Bai is severely affected by Typhoon Yagi. (Photo: VNA)

Vietnam receives EU’s humanitarian aid for Typhoon Yagi victims

The Vietnam Red Cross Society (VNRC) Central Committee has received humanitarian response and early recovery support from the European Union and its member states through the International Federation of Red Cross and Red Crescent Societies (IFRC)' Emergency Appeal to assist the Vietnamese people affected by Typhoon Yagi and its subsequent floodings.

Conscripted Vietnamese workers honoured with ceremony in France (Photo: VNA)

Conscripted Vietnamese workers honoured with ceremony in France

A solemn ceremony was held on October 20 in the southern city of Arles, Bouches-du-Rhône prefecture of France, to mark the 10th anniversary of the memorial dedicated to Indochinese workers who came to work in the Camargue region during World War II.

At the signing ceremony of a cooperation agreement between Bac Lieu and Uiseong county, Gyeongsangbuk-do province on sending local labourers to the RoK to work seasonally under the form of locality-to-locality collaboration between the two countries in the 2023 - 2027 period. (Photo: VNA)

Bac Lieu, Korean locality sign labour cooperation agreement

The Mekong Delta province of Bac Lieu on October 21 signed a cooperation agreement with Uiseong county, Gyeongsangbuk-do province of the Republic of Korea (RoK) on sending local labourers to the RoK to work seasonally under the form of locality-to-locality collaboration between the two countries in the 2023 - 2027 period.

(Photo: VNA)

Tien Giang strives to reduce poverty rate to 0.87% this year

The Vietnam Fatherland Front (VFF) Committees at all levels in the southern province of Tien Giang have collaborated with agencies and organisations to speed up social security programmes, aiming to reduce the province's poverty rate to 0.87% this year, said Vice President of the provincial VFF Committee Huynh Van Hai.

The Chinese sailor is rushed to FV (Franco-Vietnamese) Hospital in Ho Chi Minh City for treatment as soon as he is brought to the shore. (Photo: VNA)

Chinese sick sailor on vessel AMIS STAR provided with first aid

A ship from the Vietnam Maritime Search and Rescue Coordination Centre (VMRCC) on October 20 provided first aid to critically-ill Chinese sailor on a Liberia-flagged vessel off the coast of the southern province of Ba Ria-Vung Tau before bringing him to the shore for further treatment.

At the meeting between Deputy Minister of Home Affairs Vu Chien Thang and UN Deputy High Commissioner for Human Rights Nada Al-Nashif. (Photo: VNA)

Vietnam respects right to freedom of belief, religion: official

Deputy Minister of Home Affairs Vu Chien Thang highlighted Vietnam’s consistent policy of respecting and protecting the right to freedom of belief and religion for all people, while meeting with UN Deputy High Commissioner for Human Rights Nada Al-Nashif in his recent trip to Switzerland.