Mr. Phạm Trường Giang, Head of the Social Insurance Department at the Ministry of Labor, Invalids and Social Affairs, recalls the years when the number of people withdrawing social security in one lump sum increased dramatically. There were instances where people queued up as early as 4 AM in cities like Ho Chi Minh City, Dong Nai, and Binh Duong…
However, in 2024, the number of individuals seeking the one-time social security withdrawal has decreased. Statistics from the Ministry of Labor, Invalids, and Social Affairs over the past six months show a reduction of 17,000 people compared to December 2023.
“This is very encouraging news,” Mr. Giang said. “Although the revised Social Security Law officially took effect on July 1, workers have been aware of the new policies that encourage them to stay within the system since it was passed by the National Assembly.”
As a result, many workers have chosen to remain in the system to have the opportunity to receive pensions instead of opting for the one-time withdrawal. This indicates that the Social Security Law 2024 has fostered greater confidence and commitment among workers to the social welfare system.
Mr. Giang provided information about the key changes in the Social Security Law 2024, which comprises 11 chapters and 141 articles and came into effect on July 1. The law includes significant amendments and introduces numerous benefits for participants.
One of the highlights of the law is the enhanced protection of workers’ legal rights, including provisions that require social insurance agencies to督促协助
