Voluntary Pension System
Voluntary Pension System
Since 1947, the Vietnam Social Security (VSS) has provided social insurance to public servants and armed forces personnel in Vietnam. In 1995, the Government merged the social insurance unit of the Ministry of labour, invalids and social affairs with that of the Vietnam General Confederation of labor. At the same time the system became mandatory to the employees of the newly developing private sector. The consolidated system is publicly managed by the VSS administration. VSS collects contributions and pay social insurance benefits (in case of sickness and sick leaves, maternity and family planning related leaves, work injury and professional disease, survivorship and to people that reached pension ages). This paper investigates this issue by reviewing the characteristics of employment in Vietnam. It concludes that the risk that social coverage remains limited for many years is high and, presents accordingly some policy options to augment VSS's chances to reach universal coverage in the future.
- World Bank United States
FIRM DYNAMICS, MAXIMUM WAGE, BANK POLICY, INCOME SHOCK, CONTRIBUTION RATES, PENSION FUND, HEALTH INSURANCE, VOLUNTARY PENSION, CASUAL WORKERS, LABOR MARKET SEGMENTATION, PENSION BENEFITS, UNEMPLOYMENT, BENEFICIARIES, MANDATORY COVERAGE, VOLUNTARY PENSION FUND, WORKERS, INDIVIDUAL ACCOUNTS, INFORMAL SECTOR, JOBS, LABOUR MARKET, SELF-EMPLOYMENT INCOME, LOANS TO ENTERPRISES, SOCIAL INSURANCE PROGRAMS, CONTRIBUTION PERIOD, SOCIAL INSURANCE BENEFITS, GOVERNMENT FUNDS, SOCIAL SECURITY BENEFITS, LAW ENFORCEMENT, 330, SERVANTS, PENSIONS, BENEFICIARY, AGE GROUP, WORKER, UNEMPLOYED, PENSIONERS, INFORMAL ECONOMY, PREVIOUS STUDY, SOCIAL SECURITY SYSTEMS, WAGES, RETIREMENT, BASIC PENSION, SELF-EMPLOYMENT, LABOR MARKET, ELDERLY, SMALL BUSINESS, AGED WORKERS, PENSION BENEFIT, PENSION FORMULAS, APARTHEID, SOCIAL SECURITY, PENSION REFORM, PAY-AS-YOU-GO SYSTEM, MINIMUM WAGE, CONTRIBUTION RATE, GUARANTEED BENEFITS, LABOUR OFFICE, ECONOMIC DEVELOPMENT, RETURN, ANNUITIES, REPLACEMENT RATE, SELFEMPLOYMENT, SOCIAL SECURITY SYSTEM, SOCIAL CONTRIBUTIONS, SOCIAL POLICY, PENSION AGES, TOTAL WAGE, EMPLOYEE, LABOR INCOME, EMPLOYMENT STATUS, OLD-AGE PENSION, LABOUR, LABOR CONTRACT, PRIVATE ENTERPRISE, DEFINED BENEFIT, AVERAGE WAGE, LEGAL ENFORCEMENT, MICRO ENTERPRISES, PENSION AGE, TEMPORARY WORKERS, UNEMPLOYMENT RATE, WAGE EMPLOYMENT, SMALL ENTERPRISES, RETIREE, GOVERNMENT FINANCES, SELF EMPLOYED, MANDATORY SCHEME, RETIREMENT AGE, TURNOVER, LABOR CONTRACTS, PRIVATE SECTOR, BOND, LIFE INSURANCE, PENSION SYSTEMS, FINANCIAL INSTITUTION, PENSION INCOME, SOCIAL PROTECTION, YOUNG WORKERS, HOUSEHOLD INCOME, PENSION ENTITLEMENTS, PENSION SCHEMES, EXPENDITURES, DEVELOPING COUNTRIES, SOCIAL PENSIONS, DEVELOPMENT BANK, CAPITALIZATION, POVERTY ALLEVIATION, PUBLIC EMPLOYMENT, LEGAL FRAMEWORK, PENSION INCOMES, PENSION RIGHTS, LABOR FORCE, PENSION SYSTEM, SAVINGS, SOCIAL INSURANCE, VOLUNTARY PENSION SCHEME, RETIREES, MANDATORY SYSTEM, PENSION AT RETIREMENT, MONTHLY CONTRIBUTION, PRESENT VALUE, REPLACEMENT RATES, OLD-AGE INCOME
FIRM DYNAMICS, MAXIMUM WAGE, BANK POLICY, INCOME SHOCK, CONTRIBUTION RATES, PENSION FUND, HEALTH INSURANCE, VOLUNTARY PENSION, CASUAL WORKERS, LABOR MARKET SEGMENTATION, PENSION BENEFITS, UNEMPLOYMENT, BENEFICIARIES, MANDATORY COVERAGE, VOLUNTARY PENSION FUND, WORKERS, INDIVIDUAL ACCOUNTS, INFORMAL SECTOR, JOBS, LABOUR MARKET, SELF-EMPLOYMENT INCOME, LOANS TO ENTERPRISES, SOCIAL INSURANCE PROGRAMS, CONTRIBUTION PERIOD, SOCIAL INSURANCE BENEFITS, GOVERNMENT FUNDS, SOCIAL SECURITY BENEFITS, LAW ENFORCEMENT, 330, SERVANTS, PENSIONS, BENEFICIARY, AGE GROUP, WORKER, UNEMPLOYED, PENSIONERS, INFORMAL ECONOMY, PREVIOUS STUDY, SOCIAL SECURITY SYSTEMS, WAGES, RETIREMENT, BASIC PENSION, SELF-EMPLOYMENT, LABOR MARKET, ELDERLY, SMALL BUSINESS, AGED WORKERS, PENSION BENEFIT, PENSION FORMULAS, APARTHEID, SOCIAL SECURITY, PENSION REFORM, PAY-AS-YOU-GO SYSTEM, MINIMUM WAGE, CONTRIBUTION RATE, GUARANTEED BENEFITS, LABOUR OFFICE, ECONOMIC DEVELOPMENT, RETURN, ANNUITIES, REPLACEMENT RATE, SELFEMPLOYMENT, SOCIAL SECURITY SYSTEM, SOCIAL CONTRIBUTIONS, SOCIAL POLICY, PENSION AGES, TOTAL WAGE, EMPLOYEE, LABOR INCOME, EMPLOYMENT STATUS, OLD-AGE PENSION, LABOUR, LABOR CONTRACT, PRIVATE ENTERPRISE, DEFINED BENEFIT, AVERAGE WAGE, LEGAL ENFORCEMENT, MICRO ENTERPRISES, PENSION AGE, TEMPORARY WORKERS, UNEMPLOYMENT RATE, WAGE EMPLOYMENT, SMALL ENTERPRISES, RETIREE, GOVERNMENT FINANCES, SELF EMPLOYED, MANDATORY SCHEME, RETIREMENT AGE, TURNOVER, LABOR CONTRACTS, PRIVATE SECTOR, BOND, LIFE INSURANCE, PENSION SYSTEMS, FINANCIAL INSTITUTION, PENSION INCOME, SOCIAL PROTECTION, YOUNG WORKERS, HOUSEHOLD INCOME, PENSION ENTITLEMENTS, PENSION SCHEMES, EXPENDITURES, DEVELOPING COUNTRIES, SOCIAL PENSIONS, DEVELOPMENT BANK, CAPITALIZATION, POVERTY ALLEVIATION, PUBLIC EMPLOYMENT, LEGAL FRAMEWORK, PENSION INCOMES, PENSION RIGHTS, LABOR FORCE, PENSION SYSTEM, SAVINGS, SOCIAL INSURANCE, VOLUNTARY PENSION SCHEME, RETIREES, MANDATORY SYSTEM, PENSION AT RETIREMENT, MONTHLY CONTRIBUTION, PRESENT VALUE, REPLACEMENT RATES, OLD-AGE INCOME
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