Compulsory social insurance: Expectations and concerns

This new regulation is considered an important step forward in the roadmap to expand the social security network. However, while the implementation time is only a matter of days, business households still have many concerns and worries...

Many people's concerns

Many small businesses in Kim No commune (Dong Anh district) agree with the expansion of compulsory social insurance participation. *Photo: Hien Phuong.*

As the new policy is about to take effect, the general sentiment of many business owners, especially small-scale ones, is one of ambiguity and anxiety. Financial burden is the biggest and most common concern. According to the law, business owners will have to pay a total of 25% of their income (based on social insurance contributions), including 3% to the sickness and maternity fund and 22% to the retirement and death fund. .

Ms. Truong Thi Lan Anh, owner of a grocery store in Long Bien district, could not hide her confusion: “Before, I only paid voluntary health insurance, not social insurance because my monthly income was unstable. The new law requires us to pay more than half a million per month, so I have been confused these past few days because business is very difficult during this time.”

Sharing the same concern, Mr. Nguyen Van Thuc, a restaurant owner in Bac Tu Liem district, said that although he knew the policy was good for both the owner and the employee, the financial pressure was real. “My restaurant employs 6 employees but the number of customers is unstable, I am having to make up for the loss to maintain the restaurant. At this time, the monthly payment is really a pressure for me,” Mr. Thuc shared.

Not only business owners, but also employees have their own concerns. Ms. Le Thuy Luong, who is serving at a restaurant in Nam Tu Liem district, wondered: "I am wondering if I choose to pay at a low level, how much will my pension be in the future? When I need to use insurance, will the procedures be convenient?"

But besides the concerns, many people have viewed the new policy positively, considering it an opportunity to “think long-term”. Mr. Nguyen Van Au, owner of a plastic steel pipe shop in Dong Anh district, shared: “Before, I was a free trader, taking the hit and losing. Now that the government has made it mandatory to participate in social insurance, I consider this an opportunity to create a future for myself”.

From the perspective of workers, the new policy opens up great hope for them. Mr. Nguyen The Chuyen, an employee at a coffee shop in Xuan Phuong ward (Nam Tu Liem district) happily said: "While my friends who work for companies or government agencies have full insurance, for nearly 4 years I have not received any benefits, so I am worried because when I am old I will not have a pension. The new law allows me to pay insurance, which makes me very happy."

Agreeing with the policy, Ms. Le Thi Giang, a clothing seller on Kham Thien Street (Dong Da District), said that the current contribution level is reasonable and affordable. However, she also expressed her wish: "The above amount should be regulated by the state for a certain period of time. If the amount changes every year in the current difficult business context, I am afraid it will be difficult to follow."

Hope for a secure future

With a small retail scale, Mr. Nguyen Dinh Vuong's family in Tien Duoc commune (Soc Son district) is still hesitant to participate in compulsory social insurance. *Photo: Hien Phuong.*

In response to people's concerns, authorities have been preparing solutions to effectively implement the policy. .

One of the perceived challenges is the risk of evading obligations. Mr. Pham Ngoc Thao, Chairman of the Advisory Council for Democracy and Law, Vietnam Fatherland Front Committee of the city, is concerned about behaviors such as: Canceling business licenses to sell goods spontaneously, declaring lower income than actual or transferring business names to relatives who have social insurance to "avoid" the law. Therefore, Mr. Pham Ngoc Thao believes that fully disseminating relevant content to the people is necessary.

On the side of the implementing agency, Mr. Nguyen Hong Cuong, Deputy Head of the Department of Collection Management and Participant Development, Vietnam Social Security, said: " The Government is drafting a decree to provide detailed instructions on the participation roadmap. When there is a decree guiding the implementation, Vietnam Social Security will guide local social security to strengthen propaganda, mobilization, consultation and explanation solutions for business owners.

In Hanoi , positive signals have appeared. According to Mr. Nguyen Cong Dinh, Deputy Director of Social Insurance Region I, by the end of May 2025, in the city, there were more than 1,000 individual business owners paying compulsory social insurance for nearly 6,000 employees. This shows that many households have complied with the law and have a correct understanding of the policy. .

To increase efficiency, the social insurance agency will coordinate with the tax agency to identify potential subjects, initially households with revenue of 1 billion VND/year or more. .

The Social Insurance Law 2024 has created an important "push" to bring freelance workers into the social security system. . Extending compulsory social insurance to business owners is a necessary but challenging step.

For the policy to truly come into life, detailed guidance, support and listening from the authorities are needed so that each business owner can confidently entrust their future to the common social security network. .

Source: https://hanoimoi.vn/bao-hiem-xa-hoi-bat-buoc-ky-vong-va-lo-au-706633.html