Vietnam’s unemployment insurance supports over 5 million workers

More than 5 million workers affected by the pandemic have received assistance from the unemployment insurance fund.
By: | November 5, 2021

The assistance was in the form of cash relief of about US$543 million, said the Vietnam Social Security (VSS),

According to the VSS, as of October 25 this year, the assistance has benefited more than 4.77 million people currently participating in unemployment insurance and over 383,000 others who have already stopped making contributions to the fund.

The cash relief disbursement is in line with the government and prime minister’s resolutions on assistance for workers and employers hit by the pandemic.

In addition, the VSS has confirmed more than 1.94 million workers will benefit from different support policies going forward, according to VNA.

Vietnam’s unemployment insurance policy came into force on January 1, 2009. It covers Vietnamese citizens with work contracts either with a definite term of between full 12 months and 36 months or an indefinite term.

READ: Workers in Vietnam see fall in wages in Q3’2021 due to COVID-19

To qualify for the benefits, the insured person must: have paid unemployment insurance premium for full 12 months or more within 24 months prior losing his/her job or terminating his/her labour contract, working contract; have registered with the Employment Service Centers after losing jobs or being terminated labour contract or working contract; and have not yet found a job after 15 days from the date of the registration.