On June 29th, 2024, the National Assembly voted to pass the Social Insurance Law (amended), with some notable new points as follows:
– Expanded the scope of mandatory social insurance participants to include business household owners; enterprise managers, controllers, representatives of the state capital, and representatives of enterprise capital at companies and parent companies under the Enterprise Law; members of the board of directors, general directors, directors, members of the supervisory board or controllers, and other elected management positions of cooperatives and cooperative unions under the Cooperative Law without salary; part-time employees with a monthly salary equal to or higher than the lowest salary base for mandatory social insurance contribution; and in cases where the employees and employers agree on other terms but involve paid employment, salary, and management, direction, and supervision by one party.
– Reduced the minimum years of SI contributions required to receive a pension from 20 years to 15 years.
– Voluntary social insurance participants are entitled to maternity benefits.
– Amended the one-time social insurance benefit regulation, according to which the group of employees starting their social insurance participation from the effective date of the Social Insurance Law (amended) (from July 1st, 2025) will no longer be entitled to a one-time social insurance benefit (only one-time social insurance benefits will be settled in the following cases: reaching retirement age but not having enough social insurance contribution years to receive a pension, or moving abroad for permanent residence, or suffering from certain severe illnesses such as cancer, paralysis, decompensated cirrhosis, severe tuberculosis, AIDS, or having a work capacity decrease of 81% or more; or being particularly severe disabled).
– Added regulations to handle delayed or evaded social insurance contributions: mandatory payment of the full amount of delayed or evaded social insurance contributions; payment of an additional 0.03% per day based on the amount of delayed or evaded social insurance and unemployment insurance contributions and the number of delayed days; administrative penalties according to the provisions of law; and for evasion, there are also a strong measure of criminal responsibility according to the provisions of law.
The Social Insurance Law (amended) takes effect from July 1st, 2025.
