Vietnam's Social Insurance System: A Guide
Understanding Social Insurance
Social insurance in Vietnam is a compulsory program that provides financial protection to employees in case of various contingencies such as sickness, maternity, workplace accidents, occupational diseases, retirement, and unemployment.
Types of Social Insurance
Compulsory Insurance
Compulsory insurance covers all employees who are under an employment contract. It includes health insurance, unemployment insurance, and pension insurance.
Voluntary Insurance
Voluntary insurance is available for self-employed individuals, freelancers, and certain other categories of workers who are not eligible for compulsory insurance.
Unemployment Benefits
Employees who lose their jobs and meet certain eligibility criteria can apply for unemployment benefits three months after termination. These benefits provide cash stipends to unemployed workers who are actively seeking employment.
Eligibility for Unemployment Benefits
To be eligible for unemployment benefits, employees must:
- Have lost their job involuntarily
- Have worked for at least 12 months within the past 24 months
- Be actively seeking employment
Termination of Unemployment Benefits
Unemployment benefits can be terminated in the following cases:
- The employee finds a new job
- The employee refuses a suitable job offer
- The employee no longer meets the eligibility criteria
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