New points about social insurance from July 1

Mr. Pham Xuan Hai - Deputy Director of Social Insurance Region XXIV

- Could you please tell us what additional benefits voluntary social insurance participants will have according to the 2024 Social Insurance Law?

- Voluntary social insurance participants from July 1, 2025, in addition to the two retirement and death benefits (as prescribed in the 2014 Social Insurance Law), will also receive two additional benefits: maternity allowance and occupational accident insurance. Thus, according to the 2024 Social Insurance Law, employees participating in voluntary social insurance will enjoy 4 benefits. Specifically, regarding maternity benefits, female and male employees participating in voluntary social insurance when giving birth or whose wife gives birth will receive a subsidy of 2 million VND for each child (including fetuses 22 weeks or older who die in the womb, fetuses who die during labor) if they meet the conditions for paying social insurance for 6 months or more within 12 months before giving birth. The occupational accident insurance regime is implemented according to the Law on Occupational Safety and Hygiene.

In addition, the pension regime has also undergone changes, most notably the reduction of the minimum number of years of social insurance contributions from 20 years to 15 years to be eligible for pension. This is especially meaningful for middle-aged voluntary social insurance participants, informal workers, or those who have not been able to contribute continuously for many years. According to the new regulations, with only 15 years of social insurance contributions and reaching the prescribed retirement age, participants can receive a monthly pension to ensure their life in old age. This is an important step forward, contributing to encouraging people to participate in voluntary social insurance, while creating opportunities for many people to receive pensions earlier. In addition, those with a longer period of social insurance contributions will still receive a higher pension rate, encouraging long-term commitment to this policy.

In addition to pension, voluntary social insurance participants are also given free health insurance cards (covering up to 95% of medical examination and treatment costs).

- According to the Social Insurance Law 2024, business owners must pay compulsory social insurance. Could you please tell us about the contribution level and payment method for this subject?

- According to Clause 1, Article 2 of the Law on Social Insurance 2024, business owners who have registered their business according to Government regulations are subject to compulsory social insurance. The Law also stipulates that the compulsory social insurance contribution rate is 3% to the sickness and maternity fund, 22% to the retirement and death fund. The monthly social insurance contribution rate of business owners participating in social insurance is 25% of their salary. Business owners can choose to pay monthly, every 3 months or every 6 months depending on their needs, the payment deadline is no later than the last day of the month following the payment period. Participants pay directly to the social insurance agency or through business households, enterprises, cooperatives, and cooperative unions participating in management.

Propagating voluntary social insurance policy for business owners in Nha Trang City.

Business owners can choose their salary as the basis for compulsory social insurance contributions, but the lowest is equal to the reference level and the highest is 20 times the reference level at the time of payment. Regarding the reference level, the Social Insurance Law 2024 stipulates: When the basic salary has not been abolished, the reference level prescribed in this law is equal to the basic salary (VND 2.34 million). At the time the basic salary is abolished, the reference level is not lower than that basic salary. For example, if a business household chooses the salary as the basis for compulsory social insurance contributions at least equal to the reference level of VND 2.34 million, it will pay VND 585,000 per month. After at least 12 months of paying social insurance according to the selected salary as the basis for social insurance contributions, employees can re-select the salary as the basis for social insurance contributions.

The 2024 Social Insurance Law with many changes aims to expand, increase benefits and attract employees to participate in social insurance, while ensuring social security and sustainability of the social insurance fund.

Thank you!

MAI HOANG (Implementation)

Source: https://baokhanhhoa.vn/xa-hoi/202506/nhung-diem-moi-ve-bao-hiem-xa-hoi-tu-ngay-1-7-8253322/