Chapter V
THE SOCIAL INSURANCE FUND
Article 82. Sources forming the social insurance fund
1. Premiums paid by employers under Article 86 of this Law.
2. Premiums paid by employees under Articles 85 and 87 of this Law.
3. Profits from activities of investment from the fund.
4. The State's supports.
5. Other lawful sources of revenues.
Article 83. Component funds of the social insurance fund
1. Sickness and maternity fund.
2. Occupational accident and occupational disease fund.
3. Retirement and survivorship allowance fund.
Article 84. Use of the social insurance fund
1. Payment of social insurance benefits for employees under Chapters III and IV of this Law.
2. Payment of health insurance premiums for pensioners or persons who are on leave and enjoy monthly occupational accident or occupational disease allowance or who are on leave and enjoy maternity allowance for childbirth or child adoption or who are on leave and enjoy sickness allowance, for employees suffering diseases on the Ministry of Health-issued list of diseases requiring long-term treatment.
3. Payment of social insurance management expenses under Article 90 of this Law.
4. Payment of charges for assessment of the working capacity decrease in case employees take assessment not as introduced by their employers and the assessment results show that these persons are eligible for social insurance benefits.
5. Investment to preserve and develop the fund under Articles 91 and 92 of this Law.
Article 85. Levels and methods of payment by employees covered by compulsory social insurance
1. Employees defined at Points a, b, c, d, dd and h, Clause 1, Article 2 of this Law shall monthly pay 8% of their monthly salary to the retirement and survivorship allowance fund.
Employees defined at Point i, Clause 1, Article 2 of this Law shall monthly pay an amount equal to 8% of the statutory pay rate to the retirement and survivorship allowance fund.
2. For employees defined at Point g, Clause 1, Article 2 of this Law, the levels and methods of payment are specified as follows:
a/ The monthly level of payment to the retirement and survivorship allowance fund must equal 22% of employees’ monthly salary on which social insurance premiums are based before they go abroad to work, for employees who have paid compulsory social insurance premiums in a certain period; 22% of 2 times the statutory pay rate, for employees who are not yet covered by compulsory social insurance or who have paid compulsory social insurance premiums and have already received a lump-sum social insurance allowance.
b/ Payment shall be made once every 3 months, every 6 months or every 12 months or in a lump sum within the time limit stated in the contracts on sending of employees to work abroad. Employees may make payment directly to social insurance agencies of localities where they reside before going abroad or via enterprises or non-business organizations that have sent them to work abroad.
In case the payment is made via enterprises or non-business organizations that have sent employees to work abroad, these enterprises or organizations shall collect and pay social insurance premiums for employees and register the method of payment with social insurance agencies.
Employees who have their contracts extended or sign new contracts in the host countries shall pay social insurance premiums according to the method specified in this Article or shall retrospectively pay social insurance premiums to social insurance agencies after they repatriate.
3. Employees who neither work nor receive salary for 14 working days or more in a month are not required to pay social insurance premiums in that month. This period shall not be counted for enjoyment of social insurance benefits, except cases of maternity leave.
4. An employee defined at Point a or b, Clause 1, Article 2 of this Law who signs labor contracts with many employers shall only pay social insurance premiums under Clause 1 of this Article for the first-signed labor contract.
5. Employees who enjoy product-based or piecework-based salaries at enterprises, cooperatives, individual business households or cooperative groups engaged in the fields of agriculture, forestry, fishery or salt making shall pay monthly social insurance premiums at the levels specified in Clause 1 of this Article; payment may be made every month, every 3 months or every 6 months.
6. The determination of the period of social insurance premium payment for enjoyment of pension and monthly survivorship allowance must adhere to the principle that one year has full 12 months; an employee who satisfies the age requirement for pension enjoyment but whose period of social insurance premium payment is short of 6 months at most may pay a lump-sum amount for these months with the monthly premium equal to the total premiums paid by him/her and his/her employer to the retirement and survivorship allowance fund, based on the monthly salary on which social insurance premiums were based before he/she ceases working.
7. The calculation of periods of social insurance premium payment with odd months for enjoyment of the retirement and survivorship allowance benefits must be as follows:
a/ A period of between 1 month to 6 months shall be counted as half year;
b/ A period of between 7 months to 12 months shall be counted as one year.
Article 86. Levels and methods of payment by employers
1. Employers shall make monthly payments calculated based on the salary funds on which social insurance premiums are based for employees defined at Points a, b, c, d, dd and h, Clause 1, Article 2 of this Law as follows:
a/ 3% to the sickness and maternity fund;
b/ 1% to the occupational accident and occupational disease fund;
c/ 14% to the retirement and survivorship allowance fund.
2. Employers shall make monthly payments calculated based on the statutory pay rate for each employee defined at Point e, Clause 1, Article 2 of this Law as follows:
a/ 1% to the occupational accident and occupational disease fund;
b/ 22% to the retirement and survivorship allowance fund.
3. Employers shall monthly pay an amount equal to 14% of the statutory pay rate to the retirement and survivorship allowance fund for employees defined at Point i, Clause 1, Article 2 of this Law.
4. Employers are not required to pay social insurance premiums for employees defined in Clause 3, Article 85 of this Law.
5. Employers being enterprises, cooperatives, household business households or cooperative groups engaged in agriculture, forestry, fishery or salt making that pay product-based or piecework-based salaries shall make monthly payments at the levels specified in Clause 1 of this Article; the payment may be made every month, every 3 months or every 6 months.
6. The Minister of Labor, War Invalids and Social Affairs shall detail Clause 5, Article 85, and Clause 5, Article 86, of this Law.
Article 87. Levels and methods of payment by employees covered by voluntary social insurance
1. Employees defined in Clause 4, Article 2 of this Law shall monthly pay an amount equivalent to 22% of their monthly incomes as selected to the retirement and survivorship allowance fund; the monthly income on which social insurance premiums are based must at least equal the poverty threshold in rural areas and must not exceed 20 times the statutory pay rate.
The socio-economic development conditions and state budget capacity in each period shall be based on to determine the levels of support for payment of social insurance premiums for employees covered by voluntary social insurance, support beneficiaries, and the time for implementing the support policy.
2. Employees may select one of the following payment methods:
a/ Every month;
b/ Every 3 months;
c/ Every 6 months;
d/ Every 12 months;
d/ Lump-sum payment for many subsequent years at a level lower than the monthly payment or lump-sum payment for the insufficient years at a level higher than the monthly payment as specified in this Article.
3. The Government shall detail this Article.
Article 88. Suspension from payment of compulsory social insurance premiums
1. Suspension from payment to the retirement and survivorship allowance fund is specified as follows:
a/ In case employers meet with difficulties and have to suspend their production or business activities, making them and their employees unable to pay social insurance premiums, the payment to the retirement and survivorship allowance fund may be suspended for 12 months at most;
b/ Upon the expiration of the time limit for payment suspension specified at Point a of this Clause, employers and employees shall continue paying social insurance premiums and make supplementary payment for the suspension period. The supplementary amount paid for the suspension period is not subject to late- payment interest under Clause 3, Article 122 of this Law.
2. For employees covered by compulsory social insurance premiums who are put in temporary detention, they and their employers may suspend payment of social insurance premiums. In case competent agencies conclude that employees suffer a miscarriage of justice, supplementary payment shall be made for the detention period. The supplementary amount paid for the suspension period is not subject to late-payment interest under Clause 3, Article 122 of this Law.
3. The Government shall detail this Article and specify other cases of suspension from payment of compulsory social insurance premiums.
Article 89. Monthly salary on which compulsory social insurance premiums are based
1. For employees subject to the State-prescribed salary benefits, their monthly salary on which social insurance premiums are based is their rank- or grade-based salary plus position-based, extra-rank working seniority-based or occupation-based seniority allowance (if any).
For employees defined at Point i, Clause 1, Article 2 of this Law, their monthly salary on which social insurance premiums are based is the statutory pay rate.
2. For employees who pay social insurance premiums according to the employer-decided salary benefits, their monthly salary on which social insurance premiums are based is their salary plus salary-based allowance as prescribed in the labor law.
Since January 1, 2018, the monthly salary on which social insurance premiums are based will be the salary plus salary-based allowance and other amounts as prescribed in the labor law.
3. In case the monthly salary specified in Clause 1 or 2 of this Article exceeds 20 times the statutory pay rate, the monthly salary on which social insurance premiums are based must equal 20 times the statutory pay rate.
4. The Government shall stipulate in detail the retrospective collection and payment of monthly salaries on which compulsory social insurance premium are based for employees and employers, except the case specified in Clause 3, Article 122 of this Law.
Article 90. Social insurance management expenses
1. Social insurance management expenses shall be used to perform the following tasks:
a/ Propagating and disseminating policies and law on social insurance; providing professional training and retraining in social insurance;
b/ Reforming social insurance procedures and modernizing the social insurance management system; developing and managing social insurance participants and beneficiaries;
c/ Organizing the collection of social insurance premiums and payment of social insurance allowances; and operating the apparatus of social insurance agencies at all levels.
2. The funding source for performing the tasks specified in Clause 1 of this Article shall be annually deducted from the profits earned from investment activities of the fund;
Every 3 years, the Government shall report the levels of social insurance management expenses to the National Assembly Standing Committee for decision.
3. The Prime Minister shall detail Clause 1 of this Article.
Article 91. Investment principles
Investment activities of the social insurance fund must ensure safety, efficiency and capital recoverability.
Article 92. Investment forms
1. Purchase of government bonds.
2. Making of deposits, or purchase of bonds, term bills or deposit certificates at well-performing commercial banks as rated by the State Bank of Vietnam.
3. Provision of loans to the state budget.
4. The Government shall detail this Article.
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