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Nearly 2 billion USD spent on unemployment insurance in 2 years

by VNA06 June 2022 Last updated at 11:22 AM

Illustrative photo (Source: VNA)
Illustrative photo (Source: VNA)

The Vietnam Social Security has used more than 45.444 trillion VND (1.96 billion USD) from the unemployment insurance fund to pay for employees and employers over the past two years.

The Vietnam Social Security (VSS) has used more than 45.444 trillion VND (1.96 billion USD) from the unemployment insurance fund to pay for employees and employers over the past two years, given serious COVID-19 -induced difficulties facing production and business activities.

In the context of the pandemic during the period, the Prime Minister issued a series of polices on social and unemployment insurance in support of employees and employers.

A highlight among them was the support package worth over 30 trillion VND from the unemployment insurance fund under the Government’s Resolution No. 116, the largest direct cash aid ever. In 2020-2021 and the first five months of 2022, the VSS has spared no efforts to quickly and effectively deliver the aid packages to its beneficiaries.

The VSS said it allowed 2,760 units with 374,126 employees to suspend their payment of the retirement and survivorship fund, which was valued at 1.913 trillion VND. As of May 27, the VSS also paid 23.5 billion VND on funding to support training to maintain jobs for 5,038 employees of 36 units.

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