Many business owners are still hesitant to participate in compulsory social insurance.

From July 1, 2025, the Social Insurance Law 2024 officially takes effect, expanding the scope of compulsory social insurance participation to many groups of subjects, including business owners with business registration. The regulation requires 25% of the income used as the basis for social insurance contributions, of which 3% goes to the sickness and maternity fund and 22% goes to the retirement and death fund. Before this regulation took effect, some people were willing, while others were still worried about the financial burden.

PTQ - From July 1, 2025, the Social Insurance Law 2024 officially takes effect, expanding the scope of compulsory social insurance participation to many groups of subjects, including business owners with business registration. The regulation requires 25% of the income used as the basis for social insurance contributions, of which 3% goes to the sickness and maternity fund and 22% goes to the retirement and death fund. Before this regulation took effect, some people were ready, while others were still worried about the financial burden.

Le Dinh Can Street, Quang Ngai City

Ms. Nguyen Thi Lan, owner of Lan Son grocery store in Nguyen Nghiem ward, Quang Ngai city, shared that for a long time, she and two relatives in her family only participated in health insurance, now participating in compulsory social insurance makes her worried. Her whole family of 5 depends on this grocery store. If the business is good, it is okay, but if the business is bad, she does not know how to manage.

Ms. Nguyen Thi Lan

“ The government issues regulations, so we must comply. But I am concerned that I am old now, and I can trade whenever I can, but can I continue to participate long-term? And can I continue to trade until I receive my pension ?”, Ms. Lan said.

Ms. Le Thi Kim Tung

Ms. Le Thi Kim Tung, a business owner on Quang Trung Street, said that there are currently many options to ensure the future of themselves and their families, so many families have proactively planned for themselves. Therefore, compulsory participation in social insurance is not necessary and should be left to the voluntary participation of business households. With health insurance, she is very proactive in participating, but with compulsory social insurance, she is not ready. Ms. Tung said: " In my opinion, participating in health insurance is enough. Currently, there are many other types of insurance that I can participate in. Now that compulsory participation in social insurance is required, I am still hesitant . "

While many business households are still concerned, many business households also view the new policy positively. They consider participating in social insurance a necessary step to protect the social security rights for themselves and their families.

Ms. Nguyen Thi Khanh Trang, a business owner in Nguyen Nghiem Ward, Quang Ngai City, said: I think this is like saving for my old age, so I think I should participate. Because I'm doing business like this, I don't know if I can still do business in the future.

According to regulations, the social insurance contribution rate is 25% of the income. This income level is chosen by the household head, but not lower than the reference level, temporarily equal to the current basic salary of 2,340,000 VND/month. Thus, the lowest social insurance contribution level is 585,000 VND/month, and the highest level can be up to 11.7 million VND/month, if the household head chooses an income level equal to 20 times the basic salary. Business household owners can choose to pay monthly, every 3 months or every 6 months depending on their needs. Compulsory social insurance payment will bring many practical benefits such as pension, maternity, and death benefits.

Mr. Nguyen Tan Sang

Mr. Nguyen Tan Sang, Deputy Director of Social Insurance Region XXI, said: Assessing the current situation of social insurance participation and the necessity of the new regulation on compulsory social insurance participation for registered business households, effective from July 1.

To effectively implement the Social Insurance Law 2024, the Social Insurance sector needs to step up propaganda and dissemination of policies to raise awareness and understanding of business households. Instead of just announcing regulations, there needs to be creative and engaging communication campaigns, using channels such as social networks, local newspapers, radio, television, and even direct meetings at markets and neighborhoods.

Source: https://quangngaitv.vn/nhieu-chu-ho-kinh-doanh-con-ban-khoan-tham-gia-bao-hiem-xa-hoi-bat-buoc-6504106.html