Social insurance regimes are organized by the State and guaranteed to be implemented in accordance with the provisions of the legal system on social insurance to ensure the lives of participants.

Recently, the National Assembly assigned the Government to specifically stipulate procedures for resolving retirement and death benefits for employees in cases where businesses are no longer able to pay social insurance.

The Government will regulate subjects, conditions, levels of support, order and procedures for resolving retirement and death benefits for employees in case the employer is no longer able to pay social insurance.

The funding source is taken from the revenue from handling late payment and evasion of payment as prescribed in Clause 3, Article 122 of the Law on Social Insurance 2014 and 0.03% per day calculated on the amount of social insurance and unemployment insurance evasion, the amount days of avoiding payment to the Social Insurance Fund and Unemployment Insurance Fund.

This regulation is suitable to better protect the legal rights of employees, helping employees enjoy the prescribed benefits.