PM urges ministry to finish decree on voluntary pensions
The Prime Minister has urged the Ministry of Finance to complete drafting of a decree on a voluntary pension (superannuation) fund for approval by the end of May.
Hanoi (VNA) –𝓡 The Prime Minister has urged the Ministry of Finance to complete drafting of a decree on a voluntary pension (superannuation) fund for approval by the end of May.
A voluntary pension fund is a popular investment fund in the global finance market which is normally operated to raise funds through contributions of members and invested with a view to increasing the fund’s asset value and income of fund members in their old age.
According to experts, the fund would not only contribute to improving social welfare as a long-term saving but also supply capital to boost demand for the securities market, especially the government bond market, thanks to its investment activities.
The draft decree was expected to develop the legal framework for the operation of the fund in Vietnam.
Market players have been waiting for the decree on the fund as its issuance missed several deadlines due to overlaps and inconsistencies in regulations between the Ministry of Finance and the Ministry of Labour, Invalids and Social Affairs.
The decree was supposed to have been issued in 2014, and then again in 2015.
The capital market working group of the Vietnam Business Forum last year urged the legal framework for the funds to be issued soon.
The fund was one of the conditional businesses listed in the Law on Investment which have requirements for their conduct. The Prime Minister said that the legal frameworks for conditional businesses must be issued before July 1.-VNA
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The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
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The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
Since President Ho Chi Minh founded Thanh Nien (Young People) newspaper in 1925, the Vietnamese revolutionary press has become the voice of the people. During the resistance war against the colonialists, journalists took great personal risks to inspire patriotism and the will of rising up against foreign invaders.
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Illustrative photo (Source: bizlive.vn)
