Voluntary Social Insurance - Key to a Comfortable Life after Retirement

Voluntary Social Insurance (VSI) is a social security program that helps workers have a comfortable life after retirement. It provides stable pensions, health protection, and financial support for families. VSI is organized by the state and participants can choose their contribution level and method. Vietnamese citizens aged 15 and above, as well as those living abroad with a need to participate, are eligible. Various types of workers, including farmers and self-employed individuals, can participate. The benefits include pensions and death benefits, with the amount determined by contribution time. The contribution level is 22% of monthly income, and participants can choose different payment methods. To participate, one must submit an application to the social insurance agency. The state provides partial support for VSI participants, and employers can also offer additional support. References for more information are provided. Voluntary Social Insurance, VSI, is an important social security program that helps ensure a comfortable life for workers after retirement. Therefore, each worker should consider participating in VSI to protect themselves and their families. Participating in VSI will help you. Stable pension, ensure a regular monthly income after retirement. Health protection, support medical expenses when sick. Peace of mind for loved ones, financial support for the family when you pass away. Join Voluntary Social Insurance now to enjoy a comfortable and free life. 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 one 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 0-3 months for men and 55 years 0-4 months for women. Sufficient social insurance contribution time, 20 years. Benefit level. Calculated according to the formula, pension level equals 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 one 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 0-3 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://baohimexahoi.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.dt-vu-thong-hop-baohime-xa-hoi-2-nguyen-muc-hong-doi-tuong-ap-dung-mua-2019. https://tuvambhxh.net-thong-quat-ve-xa-2-bhxh-2-nguyen/. https://thursdevn.tvn.chinhach.vn.hotero.tvn.bhxh-tuong-nguyen-thong-bok-hui-din-can-vietnam.