RESOLUTION

ON THE IMPLEMENTATION OF THE POLICY ON LUMP-SUM PAYMENT OF SOCIAL INSURANCE BENEFITS TO EMPLOYEES

THE NATIONAL ASSEMBLY OF
THE SOCIALIST REPUBLIC OF VIETNAM

Pursuant to the Constitution of the Socialist Republic of Vietnam;

After considering the Government’s Report No. 226/BC-CP of May 19, 2015, on the provision of Article 60 of the 2014 Law on Social Insurance regarding lump-sum payment of social insurance benefits, the National Assembly’s Committee for Social Affairs’ Report No. 3894/BC-UBVDXH13 of May 20, 2015, and opinions of National Assembly deputies,

RESOLVES:

Article 1

1. Employees are entitled to have their period of social insurance premium payment reserved to be eligible for pension in order to ensure their livelihood after retirement in accordance with the 2014 Law on Social Insurance.

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2. The lump-sum social insurance benefits for persons participating in compulsory social insurance shall be calculated based on the number of years of social insurance premium payment with each year equaling:

a/ 1.5 times the average monthly salary on which social insurance premiums are based, for the period prior to 2014;

b/ 2 times the average monthly salary on which social insurance premiums are based, for the period from 2014 onward.

3. The lump-sum social insurance benefits for persons participating in voluntary social insurance shall be calculated based on the number of years of social insurance premium payment with each year equaling:

a/ 1.5 times the average monthly income on which social insurance premiums are based, for the period prior to 2014;

b/ 2 times the average monthly income on which social insurance premiums are based, for the period from 2014 onward.

Article 2

To assign the Government:

1. To organize public information about and dissemination of the Law on Social Insurance toward ensuring long-term social security for employees and implementing the policy on voluntary social insurance with the State’s support;

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3. To organize the implementation of Articles 1 and 2 of this Resolution; when necessary, to propose the National Assembly to consider and decide to revise the Law on Social Insurance.

Article 3

1. The Standing Committee of the National Assembly, the Committee for Social Affairs, the Ethnic Council, other Committees of the National Assembly, delegations of National Assembly deputies, National Assembly deputies, and People’s Councils and deputies to People’s Councils at all levels shall, within the ambit of their responsibilities, oversee the implementation of this Resolution.

2. The Central Committee of the Vietnam Fatherland Front, trade unions, the Front’s member organizations and employers’ representative organizations shall conduct public information about, and mobilize for the implementation of, the Law on Social Insurance and oversee the implementation of this Resolution.

Article 4

This Resolution takes effect on January 1, 2016.

This Resolution was adopted on June 22, 2015, by the XIII^th National Assembly of the Socialist Republic of Vietnam at its 9^th session.-

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Nghị quyết 93/2015/QH13 thực hiện chính sách hưởng bảo hiểm xã hội một lần đối với người lao động do Quốc hội ban hành