Participation in social insurance grows across Vietnam

Insurance premiums worth $1.99b (VND36.66t) have been collected in the first two months of 2024.

More than 17.69 million Vietnamese have joined social insurance as of 3 March, seeing an increase of 3.23% year-on-year (YoY), as announced by the Vietnam Social Security (VSS).

The number of people who participated in compulsory social insurance reached over 16.12 million, increasing 2.32% YoY, whereas over 1.56 million people joined voluntary insurance, rising to 13.6% YoY.

The agency has also reported over 90.1 million people covered by health insurance, showing an increase of 0.74%. Meanwhile, more than 14.41 million participated in unemployment insurance, up 2.58% YoY.

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The VSS has collected $1.99b (VND36.66t) from social, health and unemployment insurance premiums in the first two months of 2024.

Dinh Mai Long, Chief of the VSS Office, said that the sector has worked with relevant ministries and sectors to draft laws and important documents about social and health insurance policies and mechanisms.

This includes the amended employment law, the amended social insurance law, and the amended health insurance law.

($1.00 = VND24,750.00)