Only one contribution rate for voluntary social insurance participants is 22% of the income that participants register to pay. This income level is chosen by the participant depending on the financial ability of the participant.

Only one premium rate for voluntary social insurance participants is 22% of the income that the participant registers to pay.

Mrs. Cao Thi Thu (in Quang Nam Province), a farmer, get full 45 years old this year asked: Where doesshe pay for social insurance myself? How many premium levels are there? How long to pay? If I want to receive a salary of VND 3, 4, 5 million / month, how much money should I pay? How old are they to receive a pension?

Regarding this issue, the Quang Nam Social Insurance Agency responded as follows:

Pursuant to the current Law on Social Insurance: Law on Social Insurance 2014 and Decree 134/2015 / ND-CP dated December 29, 2015 of the Government detailing a number of articles of the Law on Social Insurance on voluntary social insurance, Ms. Thu should contact to social and health insurance collection agencythat is located at the People's Committee of the commune, ward or the Post Office in the area to register to participate in voluntary social insurance and make payment procedures there.

Only one premium rate for voluntary social insurance participants is 22% of the income that participants register to pay. This income level is chosen by the participant depending on the financial capacity of the participant and is set at the lowest level equal to the poverty standard of rural areas as prescribed by the Government’s Prime Minister and the highest is equal to 2 time base salary at the time of payment.

Regarding payment method: Voluntary social insurance participants can choose one of the following payment methods to contribute to the retirement and survivorship fund: Pay monthly; Pay every 3 months; Pay every 6 months; Pay every 12 months; One-off payment for many years thereafter but not more than every 5 years; A lump-sum payment for the missing years for the participants of social insurance who have met the age conditions to enjoy the prescribed pension but the missing time of social insurance payment does not exceed 10 years (120 months) shall be paid for the full 20 years. pension benefits.

Persons participating in voluntary social insurance are allowed to change the mode of payment or monthly income as a basis for paying voluntary social insurance. The change of method of payment or monthly income as a basis for voluntary social insurance payment is done at least after completing the previously selected payment method.

In principle of social insurance: The high contribution rate, the correspondingly high pension rate. To get a pension of about VND 3,000,000 / month, she has to pay monthly with an income of about VND 5,500,000 and the monthly payment amount is 22% equal to 1,210,000 VND (this is only a relative figure., because when calculating the pension, the income level as the basis of monthly payment also applies the consumer price index of each period - inflation index, then the pension will be higher).

According to regulations, participants of voluntary social insurance are entitled to leave to enjoy their pension when they meet two conditions:

- About time: Have paid voluntary social insurance from full 20 years or more;

- About age: Male full 60 years old, Female full 55 years old.

In case the age conditions for retirement are satisfied but the time of payment of social insurance premium is insufficient, not more than 10 years (120 months), they shall be paid for the full 20 years to enjoy the pension.

In case the participant of social insurance has reached the prescribed retirement age but the time of payment of social insurance premium is still insufficient for more than 10 years if they wish, they shall continue to pay voluntary social insurance under one of the above methods until the payment time of the social insurance balance which is insufficient for no more than 10 years is entitled to a lump-sum payment for the missing years to enjoy the prescribed pension.