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    • Reforms to ensure social insurance key pillar in social security

    Reforms to ensure social insurance key pillar in social security system

    Reforming social insurance policies is aimed at ensuring social insurance is truly a key pillar in the social security system and to gradually expand its coverage for all people, according to a resolution of the Party Central Committee.
    Reforms to ensure social insurance key pillar in social security system ảnh 1At the seventh session of the 12th-tenure Party Central Committee (Photo: VNA)

    Hanoi (VNA) – Reforming social insurancepolicies is aimed at ensuring social insurance is truly a key pillar in thesocial security system and to gradually expand its coverage for all people,according to a resolution of the Party Central Committee.

    Party General Secretary Nguyen Phu Trong on May23 signed off Resolution 28-NQ/TW on reforming social insurance policies,issued at the recent seventh session of the 12th-tenure Party CentralCommittee.

    The resolution states that the social insurancesystem will be developed flexibly into a diverse, multi-level and modern systemthat matches international practices. The State’s management capacity andefficiency will be improved while a lean, professional, modern, trustworthy andtransparent system for social insurance policy implementation will bedeveloped.

    The resolution also sets up detailed objectivesfor each period.

    It targets that by 2021, about 35 percent of the workforce will take part insocial insurance, and about 28 percent will participate in unemploymentinsurance. About 45 percent of the persons beyond the retirement age willreceive retirement pensions, monthly social insurance benefits and post-retirementbenefits. The satisfaction with social insurance index will reach 80 percent.

    By 2025, around 45 percent of the workforce willtake part in social insurance, and some 35 percent will participate inunemployment insurance. About 55 percent of the persons beyond the retirementage will receive retirement pensions, monthly social insurance benefits andpost-retirement benefits. The satisfaction with social insurance index isexpected at 85 percent.

    The resolution targets that by 2030, about 60percent of the workforce will take part in social insurance, and about 45percent will participate in unemployment insurance. About 60 percent of thepersons beyond the retirement age will receive retirement pensions, monthlysocial insurance and post-retirement benefits. The satisfaction with socialinsurance index is hoped to reach 90 percent.

    The resolution requests reforms be madesynchronously to expand social insurance coverage towards social insurance forall and to ensure the long-term balance of the social insurance fund.

    Those reforms include building a multi-levelsocial insurance system, flexibly amending the regulations on the minimumsocial insurance participation duration eligible for retirement benefits,enhancing the connectivity of social insurance policies, and reforming themaking and the implementation of policies to promote people’s trust in andsatisfaction with the social insurance system.

    To achieve the abovementioned objectives, theresolution also devises certain resolutions, including fine-tuning the legalsystem on labour, employment and social insurance; improving the State’scapacity and efficiency of social insurance management; promoting the capacityof administering and effectiveness of implementing social and unemploymentinsurance policies; and enhancing the Party’s leadership and the role ofpeople, the Vietnam Fatherland Front and socio-political organisations in thiswork. -VNA
    VNA

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