Social insurance will have a surplus of 1.24 million billion VND with 20 million participants by the end of 2024.

The Government's report to the National Assembly on the implementation of the 2024 financial plan and the expected 2025 financial plan of state financial funds said that the Social Insurance Fund is expected to have a surplus of more than VND 1.24 million billion by the end of 2024.

It is expected that the Social Insurance Fund will have a surplus of 1.24 million billion VND by the end of 2024. (Photo TL)

Of which, the Social Insurance Fund recorded total revenue according to the regime, including funds from the state budget to pay for pensioners and social insurance benefits, estimated at 410.3 trillion VND, an increase of 5.2% compared to the set plan.

Total expenditure of the fund is estimated at 352 trillion VND, 9.2% higher than the plan. Of which, social insurance expenditure is 300 trillion VND, pension and social insurance allowance expenditure from the state budget is 52.2 trillion VND.

Revenues exceeding expenditures by VND58.1 trillion are expected to help raise the fund's balance to VND1.24 trillion by the end of 2024, up 4.9% from the balance at the end of 2023.

It is expected that by the end of 2024, the number of social insurance participants will reach 20 million, an increase of 8.79% compared to the previous year. This figure is equivalent to about 43% of the working-age workforce.

Source: https://www.congluan.vn/bao-hiem-xa-hoi-se-du-124-trieu-ty-dong-voi-20-trieu-nguoi-tham-gia-vao-cuoi-2024-post315950.html