Vietnamese law on pension insurance and some recommendations for improvement

Abstract

After nearly 10 years of implementation, the 2014 Social Insurance Law is in the process of being revised. With an increasing number of workers requesting one-time social insurance and leaving the social insurance system, one of the key contents of this revision that the State, society and workers pay special attention to is pension insurance. One-time social insurance not only causes workers to deprive themselves of the right to participate and enjoy full social insurance benefits, especially long-term benefits such as pension and death benefits, leading to risks for the workers themselves in the future but also creates great challenges to the goal of expanding social insurance and ensuring the country's social security as stated in Resolution No. 28/NQ-TW. This article will analyse the legal provisions, actual practices, and some main problems in implementing the law on compulsory pension insurance. On that basis, it will also propose recommendations to amend the 2014 Social Insurance Law as a contribution to completing the provisions on pension insurance in the draft of the revised Social Insurance Law.