Amendment of the Law on Social Insurance: New Regulations to Benefit Employees
Press conference to introduce the draft Law on Social Insurance featured representatives of many departments and ministries. (Photo: Giap Tong) Reducing the number of years of paying social insurance At the press conference, Nguyen Duy Cuong (Deputy Director of the Department of Social Insurance, Ministry of Labour, Invalids and Social Affairs) said, one of the important adjustments of the draft Law on Social Insurance (amended) is to reduce the time that one has to pay social insurance contributions to enjoy a pension from 20 years to 15 years. “This regulation looks to create opportunities for people from 45 years old to newly join social insurance or those who participate intermittently, leading to a fact that they have reached their retirement age yet still not having 20 years of payment of social insurance to also enjoy a monthly pension,” said Nguyen Duy Cuong. The revised content concretizes the implementation of Resolution No. 28-NQ/TW. Accordingly, “Review a...