About 18.26 million people have joined voluntary and compulsory social insurance, making up 39.25 per cent of the total workforce. (Photo: VNA)

Hanoi – The number of voluntary social insurance participants has risen 305 folds to 1.83 million since the policy was put in place in 2008, according to the Vietnam Social Security (VSS).

It said about 18.26 million people have joined voluntary and compulsory social insurance, making up 39.25 per cent of the total workforce.

Unemployment insurance has also grown impressively, with the number of participants increasing to 14.7 million at present from only 6 million in 2009, accounting for nearly 31.6 per cent of the workforce.

Meanwhile, health insurance coverage reaches 93.35 per cent of the total population or 93.3 million people, approaching the target of universal health insurance. Health insurance cardholders make about 127 million visits to medical facilities each year.

The agency said labourers’ rights and interests being ensured has practically contributed to consolidating and expanding the social welfare foundation.