Workers in HCM City to benefit from unemployment insurance allowances

About three million workers in Ho Chi Minh City stand to gain from the unemployment insurance fund with total allowances of about VND6 trillion.
By: | October 6, 2021

They include staff of 84,000 businesses and those with unemployment insurance premium payment period reserved, said Phan Van Men, director of the city’s Social Insurance agency.

Due to the pandemic, HCM City has the highest number of unemployed workers and employees on unpaid leave in Vietnam, he added.

To further support businesses, the city is reducing employees’ unemployment insurance premium from 1% of their wage funds to 0% and implementing a VND1.9-trillion (US$83.56-million) package to help pandemic-hit enterprises.

On October 1, the government issued regulations to implement support policies for employees and employers impacted by the COVID-19 pandemic, using the unemployment insurance fund.

Accordingly, different levels of allowances from VND1.8 million (US$79) to VND3.3 million (US$144.8) will be given to each worker depending on the length of time they have paid unemployment premiums.

On September 30, the National Assembly also issued a resolution on the provision of allowances to employees and employers affected by COVID-19 using the unemployment insurance fund.

READ: Vietnam steps up urban employment drive

Under the resolution, about VND30 trillion (US$1.31 billion) from the fund will be used to support worker covered by unemployment insurance as of September 30, 2021, excluding employees in state agencies, socio-political organisations, people’s armed forces and public non-business agencies who are paid by the State budget, according to VNA.