This Decree stipulates supplementary pension insurance according to the provisions of Clause 3, Article 127 of the Law on Social Insurance, including: participating in supplementary pension insurance, establishing, managing and investing in supplementary pension insurance funds; enterprises managing supplementary pension insurance funds; responsibilities of relevant agencies and organizations.
The Law on Social Insurance stipulates: Supplementary pension insurance is a type of voluntary insurance according to market principles to supplement the pension regime in compulsory social insurance, with a mechanism to create a fund from contributions from employers or employers and employees.
Contributions to the supplementary pension insurance fund are managed according to each individual pension account.
The level of supplementary pension insurance payment is determined based on the balance of the personal pension account at the time of payment, accumulated through investment activities of the supplementary pension insurance fund according to market principles.
Regarding regulations on participating in supplementary pension insurance, the Decree stipulates:
Subjects participating in supplementary pension insurance are employers and employees who have participated in compulsory social insurance as prescribed in Article 2 of the Law on Social Insurance.
These subjects are allowed to voluntarily participate in supplementary pension insurance implemented by pension fund management enterprises through employers.
The Decree stipulates that participation in supplementary pension insurance is not a mandatory condition for recruitment, signing, and renewal of labor contracts;
Employers are not allowed to discriminate or hinder the legitimate rights and interests of employees through participating in supplementary pension insurance.
Employers are not allowed to associate participation in supplementary pension insurance with the policy of rewarding, evaluating emulation and welfare of enterprises for employees.
The level of supplementary pension insurance contribution is agreed upon by employers and employees on a voluntary basis.
