Proposal for insurance managers and supervisors to be supported with 100% of their current salary

(Chinhphu.vn) - In the Draft on financial management regime for the Insurance Management and Supervision Department, the Ministry of Finance proposed that in addition to the prescribed salary, officers and civil servants of the Insurance Management and Supervision Department will also receive monthly support equal to 100% of their salary according to the current salary coefficient (excluding allowances).

Department of Insurance Management and Supervision – Ministry of Finance

The Ministry of Finance is drafting a Decision of the Prime Minister on the financial management regime for the Department of Insurance Management and Supervision - Ministry of Finance, replacing Decision No. 11/2020/QD-TTg.

Insurance managers and supervisors are supported monthly with 100% of their salary according to the current salary coefficient.

Regarding expenses for implementing the autonomous regime, the draft proposes that officers and civil servants of the Insurance Management and Supervision Department according to the assigned payroll will be paid salaries according to regulations, in addition to monthly support equal to 100% of the salary according to the current salary coefficient (excluding allowances).

According to the Ministry of Finance, the above proposal aims to ensure that the income of cadres and civil servants is increasingly appropriate to the assigned work tasks; contribute to attracting and retaining cadres with professional qualifications and skills to work with peace of mind and long-term commitment to the Department, while ensuring fairness and transparency in the payment of income to cadres who perform insurance management and supervision work between cadres on the payroll of the Department of Insurance Management and Supervision before July 31, 2024 and cadres recruited and received from other units after streamlining the apparatus. This proposal is also similar to a number of fields such as legislation, international integration, inspection and auditing that have been allowed by the National Assembly to implement a special salary mechanism in the past time.

In addition, the draft also proposes that, for the autonomous funding source, if there are savings, the Department of Insurance Management and Supervision can spend on the contents according to regulations; in which, the income for cadres and civil servants can be supplemented by a maximum of not more than 1.0 times the salary level of the rank and position prescribed by the State.

Adjusting expenditures for some specific activities to suit the actual situation

Regarding some specific operating expenses, according to the provisions of the Law on Insurance Business No. 08/2022/QH15, Decision No. 07/QD-TTg of the Prime Minister approving the Strategy for developing the Vietnamese insurance market to 2030, the Department of Insurance Management and Supervision is assigned tasks such as: Building a database of insurance business activities and hiring an independent auditing organization to serve specialized inspection work, registration work, fee calculation method, etc. These are expenses for performing new tasks arising in legal documents, not yet included in the financial mechanism of the Department of Insurance Management and Supervision. Therefore, the Ministry of Finance believes that it is necessary to add these specific expenses to the financial mechanism of the Department of Insurance Management and Supervision.

In addition, there are some specific expenses that have been stipulated in the financial mechanism of the Department of Insurance Management and Supervision but are not feasible in practice, such as: Expenses for hiring actuaries to support the implementation of specific professional activities such as insurance calculation, fund separation, surplus division in life insurance, methods and bases for calculating insurance premiums; implementing and operating the risk-based capital model (RBC)... The actuaries who are qualified to perform the job requirements must be experts recognized by international insurance actuary associations, the actual monthly rental rate is about 4-5 times higher than the state-prescribed norm.

Therefore, in the draft, the Ministry of Finance proposes to hire domestic and foreign experts (including insurance actuaries), hiring procedures are implemented according to legal regulations on bidding, the spending level is based on the actual situation, funding capacity and must meet the requirements of the work.

The draft proposes that the funding source for the implementation of the expenditure tasks for the activities of the Insurance Management and Supervision Department in Article 3 of this Decision is allocated from the state budget.

The draft is being consulted on the Ministry of Finance's Electronic Information Portal.

Van Trang

Source: https://baochinhphu.vn/de-xuat-can-bo-quan-ly-giam-sat-bao-hiem-duoc-ho-tro-100-muc-luong-hien-huong-102251203161627825.htm