World Bank2017-06-152017-06-152012-06https://hdl.handle.net/10986/27225With declining fertility and rising life expectancy, the Vietnamese population is expected to age rapidly, making the development of a modern social security system a pressing priority for Vietnam. The current system faces a number of major challenges, including low coverage rates in both the formal and informal sectors, inequities between different participant groups, lack of financial sustainability, and weak capacity for management and implementation of social insurance programs. Reforms are needed urgently to expand coverage, promote fairness, improve financial sustainability, and modernize the social security administration in order to help ensure income security for Vietnam's aging population in the coming decades. This note aims to contribute to the policy discussions around possible revisions to the social insurance code foreseen for 2013 by reviewing some of these challenges and possible reform options.en-USCC BY 3.0 IGOACCOUNTINGADVERSE EFFECTSAGING POPULATIONAMOUNT OF CAPITALBENEFICIARIESBENEFICIARYBENEFIT PAYMENTSCASH FLOWCOMMERCIAL BANKCOMMERCIAL BANKSCOMMUNICATION TECHNOLOGYCOMPENSATIONCONFLICT OF INTERESTCONFLICT OF INTERESTSCONFLICTS OF INTERESTCONNECTIVITYCONSUMER PRICE INDEXCONTRIBUTION COLLECTIONCONTRIBUTION PAYMENTSCONTRIBUTION RATECONTRIBUTION RATESCONTRIBUTION RECORDSDEBTDEFICITSDEFINED BENEFITDEMOGRAPHICDEMOGRAPHIC CHANGESDEPENDENCY RATIODISABILITYDISABILITY PENSIONDISABILITY PENSIONSDIVISION OF LABOREARLY RETIREMENTELDERLYEMPLOYEEEMPLOYMENT TRENDSEQUITIESFAMILIESFEMALEFEMALESFERTILITYFINANCESFINANCIAL MANAGEMENTFINANCIAL RETURNSFINANCIAL SECTORFINANCIAL SUSTAINABILITYFINANCIAL SYSTEMFINANCING ARRANGEMENTSFIXED INCOMEFIXED INCOME SECURITIESFOREIGN DIRECT INVESTMENTFUND MANAGEMENTFUTURE PENSIONFUTURE PENSIONSGENDERGENDER DIFFERENCESGENDER EQUALITYGENDER EQUITYGLOBAL ECONOMYGOOD GOVERNANCEGOVERNMENT FUNDINGGOVERNMENT GUARANTEEGROWTH RATEGROWTH RATESHARMONIZATIONHEALTH CAREHUMAN RESOURCESINCOME SECURITYINCOME SHOCKSINDIVIDUAL ACCOUNTSINFLATIONINFORMAL SECTORINFORMAL SECTORSINFORMATION FLOWINFORMATION MANAGEMENTINFORMATION SYSTEMSINFORMATION TECHNOLOGYINSTITUTIONAL CAPACITYINSURANCE POLICIESINTEREST RATEINTEREST RATESINTERNATIONAL BEST PRACTICESINTERNATIONAL STANDARDSINVESTINGINVESTMENT DECISIONSINVESTMENT HORIZONINVESTMENT MANAGEMENTINVESTMENT OBJECTIVESINVESTMENT PERFORMANCEINVESTMENT POLICYINVESTMENT PORTFOLIOINVESTMENT PROCESSINVESTMENT RETURNSINVESTMENT STRATEGIESINVESTMENT STRATEGYISSUANCEJOB CREATIONLABOR FORCELABOR MARKETLABOR MOBILITYLABORERSLEGAL OBLIGATIONLEVYLIABILITYLIFE EXPECTANCIESLIFE EXPECTANCYMANDATORY SCHEMEMANDATORY SYSTEMMARKET BENCHMARKMARKET VALUEMARKETABLE BONDSMATURITYMIDDLE-INCOME COUNTRYMINIMUM WAGEMINIMUM WAGESNET WAGESOCCUPATIONSOLD-AGE PENSIONOLDER PEOPLEOPERATIONAL EFFICIENCYPAY-AS-YOU-GO SYSTEMPENSIONPENSION AGEPENSION AT RETIREMENTPENSION BENEFITPENSION BENEFITSPENSION CONTRIBUTIONPENSION COVERAGEPENSION ENTITLEMENTPENSION EXPENDITUREPENSION EXPENDITURESPENSION FORMULAPENSION FORMULASPENSION FUNDPENSION FUND INVESTMENTPENSION FUND INVESTMENTSPENSION FUNDSPENSION INCOMEPENSION POLICIESPENSION POLICYPENSION REFORMSPENSION RESERVEPENSION RIGHTSPENSION SCHEMEPENSION SCHEMESPENSION SPENDINGPENSION SYSTEMPENSION SYSTEMSPENSIONERSPENSIONSPERSONAL IDENTIFICATIONPORTFOLIOPOVERTY ALLEVIATIONPRIVATE SECTOR DEVELOPMENTRAPID ECONOMIC GROWTHRAPID EXPANSIONRATE OF RETURNSRATES OF RETURNREGULATORSREGULATORY FRAMEWORKREMOTE AREASREPLACEMENT RATERESERVE FUNDRESERVESRETIREERETIREESRETIREMENTRETIREMENT AGERETIREMENT AGESRETIREMENT BEHAVIORSRETIREMENT OPTIONRETURNRISK MANAGEMENTSAVINGSSAVINGS ACCOUNTSSELFEMPLOYMENTSERVANTSSMALL BUSINESSSMALL BUSINESSESSOCIAL ASSISTANCESOCIAL CONTRIBUTIONSSOCIAL INSURANCESOCIAL INSURANCE CONTRIBUTIONSOCIAL INSURANCE PROGRAMSSOCIAL INSURANCE SYSTEMSOCIAL PENSIONSOCIAL PENSIONSSOCIAL PROTECTIONSOCIAL SECURITYSOCIAL SECURITY AGENCYSOCIAL SECURITY REFORMSSOCIAL SECURITY SYSTEMSOCIAL SUPPORTSURVIVOR PENSIONSTAXTELECOMMUNICATIONSTRANSPARENCYUNEMPLOYMENTVOLUNTARY PENSIONVOLUNTARY PENSION FUNDWAGE GROWTHWILLWORKERS PREFERENCEYOUNG WORKERSYOUNGER WORKERSReportWorld Bank10.1596/27225