According to Vietnam Social Security, continuing to implement the policy of expanding the direct transfer of monthly pension and social insurance allowance payments by social security agencies through personal accounts for beneficiaries, Vietnam Social Security guides social security agencies of provinces and cities on monthly pension and social insurance allowance payments through personal accounts for beneficiaries in the payment period from November 2024 as follows:
Implement the implementation of the Social Insurance agency directly transferring monthly pension and social insurance allowance payments via personal accounts to beneficiaries from November 2024 nationwide according to the payment schedule: From the 1st, 2nd, 3rd of each month. In case the above days coincide with holidays, the payment schedule will start from the first working day after the holiday.
Social insurance agencies of provinces and cities must proactively review and compare personal account information of beneficiaries and electronic payment orders with bank branches. At the same time, complete the creation, control and approval of electronic payment orders before the 1st of the payment month.
For some provincial and municipal Social Insurance agencies, the rate of people receiving monthly pensions and social insurance benefits through personal accounts is still low, as directed by the General Director in Conclusion Notice No. 3560/TB-BHXH dated October 8, 2024. The directors of the units must be more drastic and take responsibility for the rate of beneficiaries receiving social insurance benefits and unemployment benefits through non-cash payment methods in urban areas to reach at least 74% (equal to the national average in June 2024).
According to the guidance of Vietnam Social Security, 25 provinces and cities pay pensions and social insurance benefits through personal accounts to beneficiaries on the 1st of every month; 21 provinces and cities pay on the 2nd of every month; 16 provinces and cities pay on the 3rd of every month.
Speaking to Lao Dong Newspaper reporters, Mr. Phan Van Men - Director of Hanoi Social Insurance - said that the unit paid pensions and social insurance benefits to people in the capital on November 4.
Hanoi Social Insurance has prepared more than 4,025 billion VND to pay pensions and social insurance benefits to over 594,000 people. Of which, 98.8% of the total number of recipients will be paid by transfer to personal accounts, the remaining 8,000 people will receive cash...
“The new point of the pension and social insurance allowance payment in November 2024 is that the Hanoi Social Insurance Agency will directly pay the beneficiaries through their personal accounts - without going through an intermediary as before. For the number of pension and social insurance allowance recipients who are currently receiving their pension in cash, the Social Insurance Agency will still coordinate with the Post Office to pay within the period from November 4. Compared to the form of receiving money directly, receiving money through a bank account brings many advantages and conveniences to the people as well as the Social Insurance Agency, which is to reduce the amount of cash transactions in accordance with the Government's policy," said Mr. Phan Van Men.
The leader of Hanoi Social Insurance added that starting from December 2024, the unit will pay pensions and social insurance benefits through personal accounts to beneficiaries on the 2nd of every month. In case the 2nd falls on a day off or holiday, the payment schedule will start from the first working day after the day off or holiday. For those who receive pensions and social insurance benefits in cash, the Social Insurance agency will coordinate with the Post Office to pay after the payment date through personal accounts.
