Vietnam’s SI system has been formed and is gradually being completed in order to meet the overall objective of providing social security for the entire population and increasing in-depth coverage for employees. Nevertheless, the coverage of voluntary SI still has a number of limitations. According to data published by VSS, by the end of 2020, the number of voluntary SI participants had reached 1,031,000 people, very little compared to the 35 million informal employees currently eligible for voluntary SI in accordance with the law.
This study aims to assess the achievements as well as the difficulties and challenges in expanding the coverage of SI in general, and voluntary SI for informal laborers in particular, in Vietnam. Some policy solutions proposed are derived from the research to develop the Vietnamese SI system and ensure social security for informal employee. From the results of the literature review and descriptive statistical analysis using data from the Labor Force Survey over the years, the report has some key findings as follows:
• Both mandatory and voluntary SI need to be more flexible (eliminating or simplifying regulations) in terms of the required minimum years of contribution to receive a monthly retirement payment.
• Increased promotion to raise awareness and special programs for rural or ethnic workers are also needed.
• Longer and more frequent promotion materials should be shown across media channels for easier access.