The future of social insurance in Viet Nam: Policy options and recommendations

Viet Nam has made significant strides in expanding and improving its social insurance system. Coverage has grown from 23% of the working labour force in 2015 to 38% in 2022, with benefits that are both comprehensive and adequate for many participants. The Government has shown strong commitment to reform, guided by Resolution 28-NQ/TW, which outlines an ambitious agenda toward universal social insurance.

This report summarizes key recommendations from the ILO prepared in support of the New Law on Social Insurance, promulgated on 29 June, 2024, and effective from 1 July 2025. It focuses on four priority areas: expanding coverage, regulating lump-sum withdrawals, introducing child benefits, and developing a multi-tiered pension system. Each section highlights current challenges and strategic solutions, aiming to inform future policy discussions and reforms.