Development of social security in Vietnam up to 2020

Abstract

     This paper argues that participation diversification is very essential for the development of Vietnam social security system towards 2020. Labor in the informal sector and farmers. therefore. will have more opportunities to participate in this system. Voluntary social insurance participation fees should be calculated based on their current gross incomes instead of relying on the minimum salary as they are calculated today. The voluntary social insurance participants will be eligible for accident insurance. maternity insurance. particularly health insurance as they are out of working-age. The coverage of the social assistant system will be extended up to 2,5-2,6 percent of the whole population; cash assistance will account for about 20 percent and 25 percent of total household income in 2020, 2025 respectively. This article emphasizes that, in the coming years, managing social security system in Vietnam should be diversified and staff working in this field should be trained more in order to meet their job requirements. Finally. the increase in income will encourage more people to participate in this system.