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The draft Law on Social Insurance of Vietnam adds specific provisions on acts of evasion of payment of Vietnamese social insurance contributions. If approved, these provisions will be applied in practice, serving as a legal basis to sue the violating party for evading social insurance contributions. By the end of January 2023, Vietnam Social Security…
10
Apr
Apr
The Vietnam Social Security Fund (VSS) has the word ‘Fund’ in its name. Thereby, this fund can also be understood with the same nature as any other investment fund on the market, with only one difference that this fund is under the control of the Government and State of Vietnam, not the business sector, a…
11
Apr
Apr
Vietnam’s draft revised Law on Social Insurance adds regulations on social pension benefits for a part of senior citizens who do not have a pension as well as other benefits to maintain a minimum life. Clause 2, Article 3 of the Draft Law on Social Insurance stipulates that a social pension is a policy where…
12
Apr
Apr
The Vietnam Social Insurance Fund for many years often gives bad information about the possibility of debt default, fund failure, liquidity loss, etc., when the number of employees who decide to withdraw lump sum social insurance from the fund increases sharply. This information worsened the psychology of employees depositing money into the fund, raising the…
02
Apr
Apr
On March 31, 2023, British Prime Minister Rishi Sunak publicly announced that the UK had completed the negotiation agreement to join the CPTPP and thereby, will officially join the CPTPP in the foreseeable future. Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) CPTPP stands for Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which is a…
01
Apr
Apr
One of the notable points in the Draft Law on Social Insurance of Vietnam 2023 is the proposal to reduce the minimum number of years of paying social insurance contributions to be eligible to receive pensions in Vietnam. So, what are the specifics of this proposal? Clause 1, Article 71 of the Draft Law on…
06
Apr
Apr
In the Draft Law on Social Insurance of Vietnam in 2023, two options for lump sum social insurance withdrawal were proposed. Accordingly, there is a proposal that employees can only withdraw up to 50% of the time of paying social insurance contributions, which has aroused many objections in public opinion. The draft revised Law on…
31
Mar
Mar
When there have been a large number of negative public opinions from the people and businesses, employers and employees in Vietnam about the contents of the Draft Law on Vietnam Social Insurance, we also should take another look at the case from a different angle to explain why the State Management Agency, the Draft Drafting…
13
Apr
Apr
One of the main points in the draft amendments to the Law on Social Insurance by the Ministry of Labor, War Invalids and Social Affairs of Vietnam is the proposal to reduce the minimum number of years of paying social insurance premiums from 20 years to 15 years in order to allow employees to enjoy…
30
Mar
Mar
Are banks and credit institutions the same concept? In the following article, ASL LAW will introduce some basic differences in the definition between a bank and a credit institution in Vietnam. Definition Clauses 1 and 2, Article 4 of the Law on Credit Institutions 2017 No. 17/2017/QH14 amending and supplementing a number of articles of…
