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According to Vietnam Social Security’s statistics, as of May 2018, the number of compulsory social insurance participants was estimated at more than 13.82 million people, an increase of 3.25 million people from 2012 and accounting for 25.8 percent of the workforce.
The number of people opting for voluntary social insurance totaled 240,000 people while 11.7 million people participated in the unemployment insurance scheme with the annual increase of 700,000 people on average.
People receiving retirement pension and monthly social insurance allowances reached 3.1 million, up 18% compared to 2012.
A resolution released by the Communist Party of Vietnam targets that by 2021, about 35% of the workforce will be covered by social insurance, and about 28% will participate in unemployment insurance scheme. About 45% of the persons beyond the retirement age will receive retirement pensions, monthly social insurance and post-retirement benefits.
