Publication:
Expanding Coverage in Vietnam’s Voluntary Social Insurance Scheme: Insights and Recommendations

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dc.contributor.authorJain, Himanshi
dc.contributor.authorNguyen, Nga Thi
dc.contributor.authorYeachuri, Agastya
dc.contributor.authorHa, Pham Bao
dc.contributor.authorDe, Koustav
dc.date.accessioned2025-03-05T20:53:04Z
dc.date.available2025-03-05T20:53:04Z
dc.date.issued2025-03-05
dc.description.abstractVietnam has witnessed impressive economic growth in recent decades, but it continues to have a large share of its workers in the informal sector. The lack of a labor contract for workers in the informal economy excludes them from payroll financed mandatory social insurance (SI) coverage. Among lifecycle risks an individual faces, Vietnam has successfully extended health insurance coverage to those in the informal sector, but similar results have not been replicated for pensions and other short-term benefits. International experience on expanding pension coverage in voluntary schemes suggests that innovation in design, delivery, and incentives is still needed. Vietnam has set a bold target under Resolution 28, of attaining contributor coverage of 60 percent of the labor force and beneficiary coverage of 60 percent of older adults by 2030. The voluntary SI scheme (VSIF) introduced in the 2006 SI Law and implemented from January 1st, 2008, is targeted towards Vietnamese citizens aged 15 years or older who are not eligible to participate in compulsory SI. Expanding coverage in the voluntary scheme will require a multi-stakeholder strategy encompassing the effective use of fiscal incentives, innovation in program design, and strengthening administration as well as service delivery aspects. Section 1 of this report includes an overview of the voluntary pension scheme including institutional arrangements and recent legislative and administrative changes. Section 2 covers the results of the delivery chain assessment while section 3 includes findings of the voluntary scheme desirability survey (VSDS) of 900 individuals across three provinces carried out to understand respondents’ awareness and perception of the scheme and their preferences for alternate design options in the VSIF. Section 4 concludes with recommendations for improvement to design, delivery, and incentives in the scheme with the aim of informing the 2024 SI law revision and aiding the coverage expansion efforts.en
dc.identifierhttp://documents.worldbank.org/curated/en/099022425053098728
dc.identifier.doi10.1596/42915
dc.identifier.urihttps://hdl.handle.net/10986/42915
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectECONOMIC GROWTH
dc.subjectDECENT WORK
dc.subjectSOCIAL INSURANCE COVERAGE
dc.subjectHEALTH INSURANCE COVERAGE
dc.titleExpanding Coverage in Vietnam’s Voluntary Social Insurance Schemeen
dc.title.subtitleInsights and Recommendationsen
dc.typeWorking Paper
dspace.entity.typePublication
okr.date.disclosure2025-03-05
okr.date.doiregistration2025-04-14T12:00:34.288225Z
okr.date.lastmodified2025-02-27T23:05:23Zen
okr.doctypePublications & Research::Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099022425053098728
okr.guid099022425053098728
okr.identifier.docmidP500753-2411ffae-c9b7-47c6-b838-bcf5bc3d6230
okr.identifier.externaldocumentum34459226
okr.identifier.internaldocumentum34459226
okr.identifier.report197515
okr.import.id6798
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttps://documents.worldbank.org/curated/en/099022425053098728/pdf/P500753-2411ffae-c9b7-47c6-b838-bcf5bc3d6230.pdfen
okr.region.administrativeEast Asia And Pacific
okr.region.countryViet Nam
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicHealth, Nutrition and Population::Health Insurance
okr.topicSocial Protections and Labor::Wages, Compensation & Benefits
okr.unitSocial Protection & Labor EAP (HEASP)
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