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.
An 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
The Government has officially issued a decree stipulating in details and guiding the enforcement of the Law on Social Insurance on compulsory social insurance for foreign employees in Vietnam.
Bilateral agreements for a new generation of social insurance policy have been negotiated to support foreign workers engaging in Vietnam’s social insurance scheme, said Deputy General Director of the Vietnam Social Security (VSS) Dao Viet Anh.
In recent years, Vietnam has emerged as an attractive destination for foreign workers. In a bid to lure more qualified workers, the Vietnamese Government has announced some reforms in administrative
The Vietnam Social Security has directed its branches in cities and provinces nationwide to collect compulsory social insurance premiums of foreign employees in the country.
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An estimated 64 percent of foreign workers in Vietnam have joined compulsory social insurance (Illustrative photo: en.nhandan.com.vn) 
