Voluntary social insurance is a crucial solution to help freelancers ensure social security, especially in old age. In Ho Chi Minh City, although there is no specific support policy from the local budget, efforts to promote it are being vigorously implemented.
Current Support Policies for Voluntary Social Insurance
According to current regulations, participants in voluntary social insurance receive state support based on the poverty standard of rural areas. Specifically:
- Poverty households: Supported by 30% of the contribution amount.
- Near-poverty households: Supported by 25% of the contribution amount.
- Other eligible individuals: Supported by 10% of the contribution amount.
Many other localities provide additional support from their local budgets, but Ho Chi Minh City has not yet implemented this.
Voluntary social insurance is a good solution for freelancers to have a pension when they retire (Illustrative image: Ho Chi Minh City Social Security).
Ho Chi Minh City’s Efforts to Promote Support Policies
Ms. Phan Thi Mai, Head of the Revenue Management Department at Ho Chi Minh City Social Security, stated that the agency is actively collaborating with the Labor, Invalids, and Social Affairs sector to advise the People’s Council on developing support policies. However, these proposals have not been approved due to the lack of specific provisions in the 2014 Social Insurance Law.
With the introduction of the 2024 Social Insurance Law, localities with sufficient financial resources can provide additional support to residents. It is expected that starting July 1, 2024, Ho Chi Minh City Social Security will restart advisory initiatives to implement support policies.
“The level of support may not match other provinces, but it will be close enough to create opportunities for disadvantaged residents to participate in voluntary social insurance,” Ms. Mai emphasized.
Prospects for Implementation Starting 2025
Mr. Lo Quan Hiep, Director of Ho Chi Minh City Social Security, stated that the 2024 Social Insurance Law provides clear legal and political foundations. Immediately after Tet, Ho Chi Minh City Social Security will advise and request the Department of Labor, Invalids, and Social Affairs to lead the proposal for the city to implement support policies.
According to statistics, as of the end of 2024, the number of voluntary social insurance participants in Ho Chi Minh City was 69,241, achieving 103.45% of the annual plan and increasing by 25.83% compared to 2023. However, this number only represents a small percentage of the total number of social insurance participants in the city (2,780,586 people).
Contribution rates and payment methods for voluntary social insurance starting July 1, 2025 (Image: Ho Chi Minh City Social Security; Illustration: Tung Nguyen).
Conclusion
Ho Chi Minh City’s implementation of a separate support policy for voluntary social insurance participants is a significant step forward, promoting participation among residents and ensuring social security. With changes introduced by the 2024 Social Insurance Law, we hope that residents in Ho Chi Minh City will soon benefit from these policies.
Source: Dan Tri
