Vietnam updates voluntary social insurance regulations

Vietnam is implementing new regulations regarding voluntary social insurance. Under a draft of the amended Social Insurance Law set to take effect on March 1, 2027, eligible participants include Vietnamese citizens aged 15 and older who are not subject to compulsory social insurance and are not currently receiving a pension or other social security benefits.

The new rules also include individuals who have temporarily suspended their labor contracts, unless there is a specific agreement to continue compulsory social insurance contributions. Voluntary social insurance allows participants to choose contribution levels and methods that suit their income to secure pensions and social security benefits.

Additionally, guidelines for voluntary occupational accident insurance have been clarified. This scheme is designed for workers without formal labor contracts, aged 15 and older. The state provides contribution support: 30 percent for poor households, 25 percent for near-poor households, and 10 percent for other workers. Benefits include coverage for medical assessment fees, one-time accident allowances, and survivor benefits for dependents in the event of a work-related death.