Big outstanding results
The unemployment insurance (UI) policy has been implemented since 2009 with four main regimes: Unemployment benefits, job counseling, vocational training support and health insurance.
The fund is formed from contributions from employees, employers, the State budget and other legal sources. The participating group is formal regional workers, paying according to the principle of having contributions and benefits.
By the end of 2024, the Unemployment Insurance Fund had a balance of more than 64,300 billion VND, an average increase of 3% for the period 2022-2024. There are about 16 million workers participating in unemployment insurance and it is estimated to increase to 18.8 million people by 2027.
According to the 2025 Law on Employment, effective from January 1, 2026, many changes related to unemployment insurance will officially take effect.
The new policy adds many groups to the list of participating in unemployment insurance to synchronize with the revised Law on Social Insurance. Accordingly, the participants will be expanded: Labor contracts with a term of 1 month or more (instead of 3 months as before) and salary management positions are also required to participate in unemployment insurance.
Specifically, employees who have signed a fixed-term contract for one month or more instead of three months as at present, including cases where the two parties agree with another name but the content of the job statement includes salary, wages and management, operation, and supervision of one party.
The expanded scope also applies to part-time employees with a monthly salary equal to or higher than the lowest salary used as the basis for compulsory social insurance contributions; business management, controllers, representatives of the capital of enterprises according to the provisions of law; members of the Board of Directors, general directors, directors, members of the Control Board or controllers and other management positions elected by cooperatives and cooperative unions with salary allowances.
Adjust the maximum allowance: The maximum monthly unemployment benefit will be unified based on 5 times the regional minimum wage ( Announced by the Government) instead of regional differentiation as before.
Shorten the time to receive benefits: The time to receive unemployment benefits is the 11th working day from the date of submitting a complete application, reduced by 5 days compared to the current regulations, which is the 16th working day.
Must spend for workers
Speaking with Lao Dong, Mr. Bui Sy Loi - former Deputy Chairman of the National Assembly's Committee on Social Affairs (now the Social Committee) - emphasized that he supports raising the unemployment benefit level because the Unemployment Insurance Fund is a short-term fund, basically must be paid to the full, paid for the purpose of serving and supporting workers.
"I consider the Unemployment Insurance Fund a support for both businesses and workers. Therefore, there should be 2 options: 1 is to increase support for workers to help them ease their difficulties - this is the most optimal, humane and practical option, with a direct impact, increasing the confidence of workers so that they can participate in the Fund. Second, businesses also participate in paying a portion of unemployment insurance, they must be supported with vocational training to overcome and compensate for job losses and human resource shortages. Currently, both supporting businesses and employees, the Fund can do very little, or to be more precise, if it does, it is not commensurate with the potential that the Fund has", Mr. Bui Sy Loi stated his opinion.
Mr. Loi cited that currently, the fund is abundant, the management unit can think and build a support package for workers like the COVID-19 pandemic has done. Even with localities suffering from severe consequences of storms and floods, both businesses and workers are in difficulty, and can be completely supported from the surplus of the Unemployment Insurance Fund.
" Managers have to think about that problem, it is not right to just sit and take care of it to manage it tightly. What is the purpose of workers participating in the Fund? paid in the hope that when there is a fire, flood or unfortunately the factory burns, I can be supported," said Mr. Loi.
Regarding the level of benefits for workers, Mr. Loi said that the maximum monthly unemployment benefit level is based on 5 times the regional minimum wage that is not affordable and rigid. There is every basis and it can be adjusted. We can take another mark, another facility, and recalculate how to make workers live enough when they lose their jobs or are in trouble.
