a) Concept

Voluntary Social Insurance is a type of social insurance organized by the State in which participants have the right to choose the level of contribution and method of contribution in accordance with their finances and income. The VSI regime helps participants have pension and death benefits when they are no longer able to work.

b) Participation requirements

Vietnamese citizens from 15 years of age and over who are not subject to compulsory social insurance according to the law.

Vietnamese citizens residing abroad: Returning to Vietnam and having a need to participate in VSI.

c) Subjects of participation

Workers working under labor contracts for less than 1 month.

Non-professional workers in villages, hamlets, communes, villages, wards, neighborhoods, and residential areas.

Family domestic workers.

People engaged in production, business and service activities without receiving wages.

Members of cooperatives and unions who do not receive wages or salaries for their work.

Farmers, self-employed workers.

Workers who meet the age requirement but do not meet the contribution time requirement to receive a pension.

Other participants who meet the conditions.

d) Benefits

Pension

• Conditions:

• • Retirement age: 60 years 03 months for men and 55 years 04 months for women.
  • Sufficient social insurance contribution time: At least 20 years.

• Benefit level:

• • Calculated according to the formula: Pension level = Average monthly income of social insurance contributions x Pension benefit ratio.
  • The pension benefit ratio depends on the social insurance contribution time.

Death benefits

• One-time death benefit:

• • Participants who have not contributed to social insurance for 1 year: The benefit amount is equal to the amount contributed.
  • Participants who have both compulsory and voluntary social insurance contribution time: The minimum benefit is equal to 03 months of the average monthly salary and income of the months of social insurance contribution.
• Funeral support: According to the law.

e) Contribution level and method

Contribution level

• The monthly contribution level is 22% of the monthly income chosen by the VSI participant.
• The minimum monthly income for social insurance contribution is equal to the poverty standard for rural areas according to the regulations of the Prime Minister and the maximum is 20 times the basic salary at the time of contribution.

Payment methods

Participants can flexibly choose the following payment methods:

• Monthly.
• Once every 3 months.
• Once every 6 months.
• Once every 12 months.
• One-time payments for multiple years in the future, but not more than once every 5 years;
• One-time payments for the missing years for social insurance participants who have met the age requirement for retirement benefits according to regulations but have a social insurance payment period of no more than 10 years (120 months) can be paid to make up 20 years for retirement benefits.

f) Participation procedure

Participation documents

• Application for participation in VSI (according to the form of the social insurance agency).
• Citizen’s identity card.
• Birth certificate (for persons under 16 years of age).
• Marriage certificate (for married persons).
• Income documents (labor contract, salary table, business documents, …).

Participation procedure

• Submit a VSI participation application to the social insurance agency at the place of residence.
• Social insurance officers will guide and check the application dossier.
• If the application dossier is valid, the participant will be granted a social insurance book and a health insurance card.

Contact information

• Social insurance agency at the place of residence.
• Vietnam Social Insurance website: https://baohiemxahoi.gov.vn/
• Consulting switchboard: 1900 636463

g) Support

The State supports a part of the cost for VSI participants:

• Poor households: 30%.
• Near-poor households: 25%.
• Other subjects: 10%.

Employers can provide additional support for employees participating in VSI.

h) References

https://ebh.vn/nghiep-vu-tong-hop/bao-hiem-xa-hoi-tu-nguyen-muc-huong-doi-tuong-ap-dung-moi-2019

https://tuvanbhxh.net/tong-quat-ve-che-do-bhxh-tu-nguyen/

https://thuvienphapluat.vn/chinh-sach-phap-luat-moi/vn/ho-tro-phap-luat/tu-van-phap-luat/36039/bhxh-tu-nguyen-toan-bo-quy-dinh-can-biet-nam-2021