The person paying insurance can choose the level of voluntary social insurance contribution

Wed, 24 May 2023 15:03:00  |  Print  |  Email   Share:

Mr. Tran Kien's older brother (from Ba Ria - Vung Tau province) was born in February 1960. Until the end of December 2022, he had a total participation period of 16 years and 7 months in social insurance, with a monthly insurance contribution of 4,680,000 Vietnamese dong.

In January 2023, Mr. Kien's older brother resigned from his job and stopped contributing to social insurance. Mr. Kien asked how many more months his brother needs to contribute to be eligible for retirement benefits. Can he make a lump-sum payment? And what percentage of the monthly salary of 4,680,000 Vietnamese dong should he contribute?

Regarding this matter, the Social Insurance Agency of Ba Ria - Vung Tau province provided the following answer:

According to Point e, Clause 1, Article 9 of Decree No. 134/2015/ND-CP dated December 29, 2015, issued by the Government, in cases where individuals participating in social insurance meet the age requirements for pension benefits but have a contribution period of less than 10 years (120 months), they can make a lump-sum payment for the missing years to reach a total of 20 years for pension eligibility.

In the case of Mr. Kien's older brother, who was born in February 1960 and has participated in social insurance for 16 years and 7 months, according to the above provision, he needs to contribute an additional 41 months (3 years and 5 months). The pension entitlement will be calculated from the month immediately following the month when he makes the full payment for the missing years.

The monthly contribution amount is 22% of the monthly income chosen by Mr. Kien's older brother. The minimum monthly income for social insurance contribution is based on the poverty standard for rural areas (as stipulated in Decree No. 07/2021/ND-CP, which is 1.5 million Vietnamese dong), and the maximum is 20 times the basic salary (29,800,000 Vietnamese dong).

Mr. Kien's older brother can choose the final income level before stopping the social insurance contribution or select an appropriate contribution amount.

To make a lump-sum payment for the missing years, Mr. Kien's older brother can visit the Social Insurance and Health Insurance Collection Points: the nearest post office, the nearest Viettel store, or the local People's Committee (UBND) office.

Alternatively, he can contact the Ba Ria - Vung Tau Social Insurance Agency at the phone number 0254.3818123 – extensions 208, 211, 212 for further assistance.


By: Translator: LeAnh-Bizic/According to Hai Hoa (Government Newspaper)


Back    Up to top   

Same category News :

Other news :

Copyright © 2016 by the Chamber of Commerce and Industry of Vietnam - VCCI
Write "Chamber of Commerce and Industry of Vietnam"
or;; the release of information from this Website.
Designed and developed by Vietkent