On April 1, the Social Insurance Management Board held a regular meeting for the first quarter of 2025. Minister of Finance Nguyen Van Thang - Chairman of the Social Insurance Management Board - chaired the meeting.
At the meeting, representatives of Vietnam Social Insurance reported and members of the Social Insurance Management Council discussed key issues, including payment of pensions, non-cash social insurance benefits and the authorization of collection and expenditure of social insurance and health insurance; 2025 collection and expenditure estimates and the financial and state budget plan for 2025-2027; 2025 fund investment plan; depositing money with a term for the balance on the deposit account reflecting on receipts and expenditures; the level of expenditure for organizing unemployment insurance activities; expenditure on medical examination and health insurance from 2022 and earlier; financial settlement in 2023.
Speaking at the meeting, Minister Nguyen Van Thang agreed with the opinions of the Council members and requested the Council Office to absorb and synthesize them to send to members and relevant units for research and implementation.
Accordingly, regarding the financial settlement report, Minister Nguyen Van Thang agreed to the financial settlement report for 2023 of Vietnam Social Insurance. Accordingly, Vietnam Social Security is fully responsible for legal documents; comply with procedures, regulations, records, accuracy of information, data and reporting content.
Regarding the 2025 fund investment plan and term deposits, reflecting the revenues and expenditures, the Council agreed on the principle of investing in government bonds and deposits at commercial banks. In particular, the investment requirement must ensure the nature of long-term and short-term component funds, in accordance with the provisions of law.
The Council agreed to propose social insurance on the principle of investing in government bonds; assign Vietnam Social Insurance to base on the practical situation in the period of 2023-2024 and the market developments in 2025 to decide on specific investment to ensure a harmonious investment ratio, manage risks, comply with legal regulations, proactively develop a plan to deposit money at state-owned commercial banks; closely review and monitor the profits from investment activities, be responsible before the law in implementing investment and effectively manage risks according to regulations. Comply with investment goals according to the principle of: Safety; efficiency and ensuring proactiveness when needed, ensuring timely payment when needed.
The Council proposed that Vietnam Social Security develop a long-term investment strategy according to the Social Insurance Law 2024; including proposing investment ratios in government bonds in each period, submitting to competent authorities for consideration and decision. Vietnam Social Insurance implements depositing and management of deposit balances to ensure publicity, transparency, risk management, compliance with the provisions of the Social Insurance Law and corporate responsibility before the law.
Regarding maintaining the balance of deposit accounts reflecting revenue and expenditure, the minister suggested that it be implemented in accordance with the provisions of law, ensuring that the balance on deposit accounts is in accordance with spending requirements, resolving the regime, ensuring investment in social insurance, health insurance, unemployment insurance funds, effectively, avoiding waste.
Regarding the level of expenditure for organizing and operating social insurance, health insurance, and unemployment insurance in the 2025-2027 period, the Management Council agreed on the principle of developing the level of expenditure for organizing and operating in the 2025-2027 period, ensuring compliance with legal regulations, associated with organizing the arrangement of the apparatus in accordance with the Party's conclusions; striving to reduce the expenditure level, in the process of implementing Vietnam Social Insurance, continue to review and improve the efficiency of using funding sources to ensure savings and combat waste. Assign Vietnam Social Insurance to work with units of the Ministry of Finance, relevant ministries and branches to coordinate in reviewing, updating data, completing reports to the Ministry of Finance to submit to the Government according to regulations to ensure deadlines, and submit them to the National Assembly Standing Committee.
At the same time, Vietnam Social Security is required to continue to promote the payment of non-cash regimes, review regulations on revenue and expenditure to ensure timely payment and cost savings.
With the arrangement of the apparatus, the application of information technology and digital transformation is very important, so it is necessary to increase the application of information technology and digital transformation to ensure efficiency, faster, safer, and save costs for social insurance operations - Minister Nguyen Van Thang emphasized.
